BMI Federal Credit Union
Home Equity Loans & Lines of Credit | BMI FCU
Maximize Your Home's Potential with BMI Federal Credit Union
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Unlock your homes potential with our Home Equity Loans and Lines of Credit, designed to fit your unique financial needs, whether you're undertaking home improvements, consolidating debts, or financing a significant expenditure.
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Right now, earn a $200 cash bonus+ with a Home Equity Line of Credit from BMI FCU. Enter promo code HELOC25 when applying online or mention when applying in person.
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Home Equity Loan & Line of Credit Rates
Ohio Owner Occupied Properties Only
Home Equity Loans & Lines of Credit
| Product |
Rate |
APR1 as low as |
| Home Equity Line of Credit2 |
7.500% |
7.500% |
| Closed End Home Equity Loan3 |
8.500% |
8.500% |
Home Equity rates effective 2:00 pm on Thursday, January 2, 2025
1 APR = Annual Percentage Rate. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications and collateral conditions. All loans subject to approval.
2 Fees required to open line of credit will range from $250 to $750. This is a variable rate plan, APR may change quarterly based on the most recent Prime Rate published in the Wall Street Journal. The maximum annual percentage rate that can apply is 18.0% or the maximum permitted by law, whichever is less. However, under no circumstances will your annual percentage rate go below 3.0% at any time during the term of the plan. Must carry insurance on the property. Consult your tax advisor regarding the deductibility of interest and charges.
3 Must carry insurance on the property. Consult your tax advisor regarding the deductibility of interest and charges.
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Why Opt for BMI FCU's Home Equity Products?
- No Application Fees: Initiate your home equity journey worry-free with no upfront fees.
- Tailored Financial Solutions: Choose between a fixed-rate Home Equity Loan for predictable repayments or a flexible Line of Credit for accessible funds when you need them.
- Expert Financial Guidance: Our mortgage specialists are dedicated to finding the best solution for you, offering personalized advice tailored to your financial landscape.
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Explore Your Home Equity Options
Home Equity Line of Credit in Ohio
A Home Equity Line of Credit, or HELOC, provides flexible access to funds for ongoing projects or as a financial safety net.
- HELOC2 rates as low as 7.500% APR1
- Plus, no Application Fee
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Fixed Home Equity Loan in Ohio
A Closed Home Equity Loan provides the borrower one lump sum based on the equity in the home. Ideal for fixed, one-time expenses with the security of fixed repayments.
- Home Equity Loan3 Rates as low as 8.500% APR1
- Plus, no Application Fee
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Guidance Through Every Step
Leveraging your home's equity shouldn't be complicated. At BMI FCU, we simplify the process, providing the information and support you need to make informed decisions. Whether enhancing your home, covering educational costs, or consolidating debt, we're here to guide you towards the most beneficial equity solution for your situation.
Empower Your Financial Strategy with BMI FCU
Your home's equity is a powerful tool for achieving your financial goals. With BMI Federal Credit Union, you gain access to flexible options, insightful advice, and the support needed to make the most of this asset.
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A Personal Approach to Financial Solutions
Unlike other Financial Institutions, BMI FCU prioritizes your needs, offering personalized service that makes all the difference. Our non-commissioned advisors work for your benefit, ensuring you feel confident and supported in your financial choices.
Elevate Your Financial Well-being with Home Equity Solutions from BMI FCU
Ready to transform your home's equity into opportunities? With BMI FU, you're choosing a partner committed to your financial success. Explore our competitive rates, insightful guidance, and tailored home equity solutions today. Start your journey with BMI Federal Credit Union now.
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+Enter promo code HELOC25 when applying online or mention when applying in person. Applications must be received between February 1 and April 30, 2025, with loan disbursed by May 31, 2025. Cash bonus of $200 will be deposited into member's savings account within 10 business days after all qualifications have been met. Requirements for cash bonus: minimum credit limit of $5,000, minimum balance of $5,000 or greater within 90 days of loan disbursement, and automatic loan payment from a BMI FCU savings or checking account. Fees required to open line of credit will range from $250 to $750. This is a variable rate plan, Annual Percentage Rate (APR) may change quarterly based on the most recent Prime Rate published in the Wall Street Journal. The maximum annual percentage rate that can apply is 18.0% or the maximum permitted by law, whichever is less. However, under no circumstances will your annual percentage rate go below 3.0% at any time during the term of the plan. Rates effective as of January 2, 2025. Must carry insurance on the property. Owner occupied properties in Ohio only. Consult your tax advisor regarding the deductibility of interest and charges. Cash bonus may be considered income and reported on 1099 MISC or 1099 INT. Existing BMI FCU loans are not eligible for this offer. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications, and collateral conditions. All loans subject to approval. Membership eligibility and account requirements apply. BMI FCU is open to everyone who lives, works, worships, or attends school in Franklin, Licking, Fairfield, Pickaway, Madison, Union, Delaware, or Morrow County. Federally Insured by NCUA. Equal Housing Lender. NMLS ID 410831. BMI FCU may amend, suspend, or discontinue this offer at any time without notice. Offer ends April 30, 2025.
