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Last Updated: 04/18/2025

Leominster CU Home Equity Loans

from Leominster Credit Union

Last Updated: 04/18/2025

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Highlights

Credit Score Range

N/A

Amount Range

$10,000 - $250,000

Maximum LTV

80%

Loan Term (Years)

Up to 20

Leominster CU Home Equity Loans Review

Leominster CU Home Equity Loans is offered by Leominster Credit Union (NMLS #517287), a credit union founded in 1954 and based in Leominster, MA. Leominster CU Home Equity Loans are available in 50 states and Washington, DC.

Key Takeaways

No primary residences considered. Leominster CU Home Equity Loans does not offer financing for primary homes.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
Maximum LTV. Leominster CU Home Equity Loans has a maximum loan to value ratio of 80%.
Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Leominster CU Home Equity Loans.

Leominster CU Home Equity Loans Pros & Cons

Pros

Cons

Available in all 50 states.

Charges an origination fee.
Charges prepayment fees.

Leominster CU Home Equity Loans FAQ

How much can you borrow with a Leominster CU Home Equity Loans home equity loan?

A home equity loan allows homeowners to borrow money using their home as collateral (similar to a mortgage). Loan amounts vary depending on the value of the home minus the balance of any mortgages or liens on the property.

Leominster CU Home Equity Loans allows borrowers to apply for home equity loans of up to $250,000. The actual maximum loan amount will vary depending on the value of the property, how much you owe on it, and your creditworthiness.

What are the home equity loan requirements of Leominster CU Home Equity Loans

This lender's maximum loan to value rate is 80%. That means the total debt secured by the property cannot exceed 80% of its value. Let's say you own a property with a current market value of $100k, but you still owe $20k on your mortgage. Your equity would be $80k. In this scenario, if you have good credit, you may qualify for a line of credit of up to $60k.

Generally, the APRs of home equity loans do not include points and financing charges, just the interest rate.

What fees does Leominster CU Home Equity Loans charge for a home equity loan?

Leominster CU Home Equity Loans may charge a loan origination fee

Is Leominster Credit Union a legit company?

Leominster Credit Union was founded in 1954, it is a well-established company that has been in business for 72 years.

Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Headquarters

20 Adams St

Leominster, MA 01453

(800) 649-4646

Visit Site

Email Support

Hours of Operation

Sunday

Closed

Monday

8:30AM - 5:00PM

Tuesday

8:30AM - 5:00PM

Wednesday

8:30AM - 5:00PM

Thursday

8:30AM - 6:00PM

Friday

8:30AM - 5:00PM

Saturday

8:30AM - 12:00PM

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SuperMoney Net Recommendation Score

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-1000+100

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