Home Equity Loans

Home Equity Line of Credit*

Any of these projects on your list?

• Finish basement
• Add an extra room
• New roof
• Major remodeling
• Consolidate higher-interest rate debt
• College tuition

If you're a homeowner, a Home Equity Line of Credit is one of the best ways to borrow because the interest may be tax deductible.* A Home Equity Line of Credit is a revolving credit line that allows you to borrow 80% to 95% of your home's value. Just use the amount you need, when you need it!

• No annual fee
• Prime plus 0% (80% LTV); prime plus 1.75% (over 80% and up to 95% LTV)
• Interest may be tax deductible

Accessibility. Access your line of credit through CATS Line, CATS online, or with specially issued Home Equity Line of Credit checks.

Divine Home Equity Line of Credit

Perfect for members with $25,000 of equity in their homes, at 80% LTV or less.

• No annual fee
• Prime minus.50%
• Minimum initial draw is $10,000
• Closing costs range from $200-$500

Second Mortgage Loans*

Although similar to home equity lines, second mortgages feature a fixed rate for a fixed period of time. A second mortgage is often used for a large purchase or debt consolidation.

• Competitive fixed rate of interest
• Terms range from 5 to 15 years
• Qualified members can borrow up to 95% of the home's loan to value
• Interest rate is determined by the amount of equity and the term

*Consult your tax advisor regarding deductibility. Property must be primary residence in the state of Ohio. Equity Rate is subject to quarterly adjustment.