PenFed Credit Union Home Equity Loans
in Home Equity Loans from PenFed Credit Union
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| APR (Fixed APR) | 5.34% - 18% |
| Loan Amount | $10,000 - $400,000 |
| Loan Term | 5 - 20 years |
PenFed Credit Union Home Equity Loans Review
Where does PenFed Credit Union Home Equity Loans do business?
PenFed Credit Union Home Equity Loans is based in Alexandria, VA. The company was founded in 1935 and offers home equity loans to borrowers in 50 states (and Washington, DC).
How much can you borrow with a PenFed Credit Union 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.
PenFed Credit Union Home Equity Loans allows borrowers to apply for home equity loans of up to $400,000. 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 PenFed Credit Union Home Equity Loans
This lender's maximum loan to value rate is 90%. That means the total debt secured by the property cannot exceed 90% 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 $70k.
What home equity loan rates does PenFed Credit Union Home Equity Loans offer?
PenFed Credit Union Home Equity Loans offers home equity loans with a fixed APR that ranges from 5.34% up to 18%.
Remember the APRs of home equity loans do not include points and financing charges, just the interest rate.
What is the estimated funding time for a home loan via PenFed Credit Union Home Equity Loans?
PenFed Credit Union Home Equity Loans will typically fund home equity loans within 3 and 11 days of approval.
What fees does PenFed Credit Union Home Equity Loans charge for a home equity loan?
PenFed Credit Union Home Equity Loans may charge a loan origination fee
What types of property can you use as security for a home equity loan with PenFed Credit Union Home Equity Loans?
Lenders often have restrictions on the type of properties they will accept as security for a home equity loan. PenFed Credit Union Home Equity Loans will consider loans secured by the following property types:
- Primary home.
- Secondary homes and vacation properties.
- Investment properties and house flipping projects.
Contact
- Headquarters
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2930 Eisenhower Avenue
Alexandria, VA 22314 USA - (800) 247-5626
- Visit Site
Other Services by PenFed Credit Union
Availability
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Washington, DC
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Feature Breakdown
| Minimum Age | 18 |
| Credit Score Range | 620 - 850 |
| Immigration Status Considered |
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| Employment Statuses Considered |
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| Intended Use |
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| Maximum LTV | 90% |
| Military Status |
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| Supported Income Types |
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| Joint Loan Applications Accepted |
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| Verification Documents Required |
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