home equity loans in Madison Wisconsin at Dane County Credit Union

Home Equity Loans

Home Equity Special Offer

  • 1.74% APR* - 6 month introductory rate
  • No closing costs

Make your dreams reality with this great low cost home equity loan special. Hurry, it's only available for a limited time!

Apply for a Loan

* Membership open to everyone living or working in Dane, Columbia, Dodge, Jefferson, Rock, Green, Iowa, and Sauk counties in Wisconsin. APR is Annual Percentage Rate. Offer only available on new money loans to Dane County Credit Union. Normal credit granting standards apply. Home Equity line of credit rates are variable and subject to change quarterly, based on the prime rate as stated in The Wall Street Journal (4.00%APR as of 3/15/17). Special introductory offer is 2.25% less than current rates. Your actual rate will be based on your credit score. After the 6 month introductory rate period, your rate will be adjusted to match current rates. For 80% and lower loan to value (LTV) the rate will be as low as prime minus 1.00%, currently with a floor of 3.99%; up to 90% LTV, as low as prime rate, currently with a floor of 3.99%; up to 100% LTV, as low as prime plus 1.50%, currently at 5.50%. The APR is subject to change monthly but cannot exceed 14.99% during the life of the loan. Interest begins to accrue from date of advance. Minimum required monthly payment is interest only. Covered closing costs include $99 for properties in Dane County, WI and $149 outside Dane County. Appraisal fee is additional if required. Proof of homeowners insurance is required. No transaction or annual fees apply. Offer cannot be combined with any other offer and expires on June 15, 2017. $5 savings account is required. Credit union reserves the right to cancel offer at any time. Equal Housing Lender.

Home Equity Loans at DCCU

Need more cabinet space or a tub that doesn’t leak? How about a tropical vacation? One of your biggest assets - your home - could qualify you for a loan or credit line that gives you a possible tax advantage.* Ask us about borrowing up to 100% of the equity in your home.

*Consult your tax advisor for allowable limits.

Prior to applying for a home equity loan, please review the Home Equity Early Disclosure and the Federal Reserve Board publication: When Your Home Is On The Line.

Other attractive features of a home equity loan from DCCU:

  • Tax Advantage - Interest may be fully deductible. Check with your tax advisor for allowable limits.
  • Flexible Repayment Terms - Up to 15 year amortization schedule to fit your budget.
  • No Annual Fees
  • No Points
  • No Prepayment Penalty
  • Fast Turnaround and approval
  • Low closing costs

Home Equity Line of Credit

An Equity Express line of credit is an open-end home equity loan. As you pay down the balance owed, the remainder of the credit line becomes available to use again. You can have cash available whenever you need it without completing a loan application each time. The interest rate is subject to change quarterly and is based on the prime rate plus or minus a margin.

Second Mortgage Loan

A second mortgage is a closed end home equity loan. You will receive a check for the lump sum you borrow. The interest rate is fixed for three or more years.

Home Equity Checklist:

  • To apply for a home equity loan click Apply for a Loan at the left.
  • To further process your loan request, we will need the following documentation:
    • A recent property tax bill showing your property's fair market value.
    • A statement showing the balance on your first and/or other mortgages.
    • A copy of your homeowner's insurance policy.
    • The legal description of your property (typically found on your present mortgage or deed copy).
    • Copies of your most recent pay stub or, for self employment income, two years of tax returns.
  • Please note that home equity loan regulations require a 3 day right of rescission period (right to cancel) before funds can be disbursed.

Housing Services

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