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Home » Personal Banking » Loans » Home Equity Loans & Lines
Home Equity Loans is rated 4.8 out of 5 by 6.
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Local Service. Affordable Payments. Endless Possibilities.

Use the equity in your home to get the cash you need, when you need it. With our great rates, flexible terms and affordable monthly payments, it’s easy to tap into your home’s equity. We offer Home Equity Loan and Line of Credit options.

Features
  • Apply online in as little as 20 minutes
  • Competitive rates and affordable payments
  • Local underwriting for fast approval
  • Easy, online payments in Online Banking

When you're ready to access your home's equity, we're here to help!

Home Equity Loan (Second Trust)

Get the money you need in a convenient, single payout to cover debt consolidation, home improvements, medical expenses or most any other purpose.

Features:
  • Loans up to $250,000 (up to 100% current home LTV*)
  • Fixed terms of 3-, 5-, 7- or 10 years with an amortization of 240 months
  • Fixed terms of 5/10/15 years
  • No annual fees
  • Fixed-rate monthly payments
  • No early payment penalties
  • Local servicing
  • Interest may be tax-deductible**.
Ask a Question about our Equity Loans

Home Equity Line of Credit (HELOC)

The convenience of anytime access and continuing source of funds can be used for debt consolidation, home improvements, education costs, wedding expenses, vacation plans and most any other purpose.

Features:
  • Borrow up to $250,000 (up to 90% current home LTV*)
  • 10-year draw period
  • Revolving credit line available (up to 20-year repayment)
  • Minimum monthly payment based on interest due for current balance
  • No pre-payment penalties
  • No annual fees
  • Convenient access to your money—Online Banking, by phone, check or at any branch
  • Local servicing
  • Interest may be tax-deductible**.
Ask a Question about our Home Equity Line of Credit
Features Fixed Equity Loan Home Equity Loan Home Equity
Line of Credit
Fixed Terms 5, 10, 15 year 3/20, 5/20, 7/20, 10/20 year 10 year draw
Minimum Loan Amount $10,000 $10,000 $5,000
Maximum Loan Amount $250,000 $250,000 $250,000
Maximum Loan-to-Value 100% 100% 90%
Maximum Terms (minimum loan amount may apply) up to 180 months up to 120 months 360 months
Amortization 60/120/180 months 240 months 240 months
Lien Position 2nd 2nd 2nd
Closed-end terms Yes Yes No
Revolving Loan Terms No No Yes
Optional Payment Protection Available (LoanShield) Yes Yes Yes
Online Banking FREE FREE FREE
Online payment options FREE FREE FREE

With Apple Financial Services LLC, a wholly-owned subsidiary of Apple FCU, you’ll enjoy one-on-one attention from an insurance agent who will take the time to find the coverage you need at a price you can afford.

Enjoy peace-of-mind knowing that your home and belongings are protected with an affordable policy and coverage options that fit your lifestyle. Our award-winning agents make shopping for insurance with national carriers easy.

Call us at 703-788-4817 to schedule an appointment or get your no cost, no obligation online insurance quote today.

*Property values are based on the lesser of the current appraised value or a Freddie Mac Home Value Explorer (HVE®) with a condition report. Independent appraisals not accepted. **Consult your tax advisor regarding tax-deductible interest.

The HMDA data about our residential mortgage lending are available for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, and income of applicants and borrowers; and information about loan approvals and denials. Inquire at 703-788-4800 or 800-666-7996 regarding the locations where HMDA data may be inspected.

Rated 5 out of 5 by from Easiest home loan application process Of all the confusion that could've occurred, we had a very simple, straightforward experience with applying for and obtaining our home equity loan. Applying online was fast, easy and convenient. The information about next steps and what to expect and when to expect it came quickly and were very clear. We had a quick, convenient and painless closing and the funds were put in our account directly. Everyone was friendly and professional. Thank you Apple FCU for helping us achieve our goal of making our home a better one.
Date published: 2015-05-22
Rated 4 out of 5 by from Loan in a minute I was able to borrow money in less than 48 hours. I was impressed with how fast (and easy) it was to get the loan.
Date published: 2015-07-22
Rated 5 out of 5 by from Easy and convenient There is no better option. Easy and convenient. Best customer service
Date published: 2015-08-13
Rated 5 out of 5 by from BEST HELOC My husband and I applied for HELOC through Apple FCU and it was the best decision we ever made. Our loan officer and processor were GREAT. Very knowledgeable and quick to respond to emails or phone calls . They stated the process time would be 3-4 weeks from start to finish but our process from start to finish took less than two weeks. Thank you Darcie & Marco for everything!!!!!!!!!!!!!
Date published: 2016-06-16
Rated 5 out of 5 by from Outstanding Home Equity Loan From my very first contact with a loan officer, all the way through to finalizing the loan, the entire process was smooth and uncomplicated, mostly because every AFCU person I dealt with was very professional and extremely helpful. It was quite a calming experience in such a vital financial transaction.
Date published: 2015-08-13
Rated 5 out of 5 by from Great Products Everything was easy and fast, great job! I would use Apple again if needed
Date published: 2016-05-05
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I live in NJ, can I apply for a home equity loan

Asked by: cparreno
Apple FCU can finance equities for property within Virginia, Maryland, West Virginia, North Carolina and the District of Columbia.
Answered by: AppleFCU
Date published: 2017-06-12

Could I get a loan with recent credit card charge offs that have been settled and paid?

Asked by: JK1960
Due to the varying conditions of underwriting, we can't say whether you would or not. Overall, we look for good/excellent credit, credit on the mend or credit being built. We look at repayment history, capacity and desire to repay, and length and types of credit history. In short, we look at the entire picture and we look at each borrower individually. We would invite you to apply 24/7 at https://loanapp.applefcu.org/.
Answered by: AppleFCU
Date published: 2017-06-06

Location: Loudoun County Home Value: $710,000 Outstanding balance: $490,000 Credit History: Excellent 1. What would be the maximum amount that I could borrow? 2. I need the funding in September of this year. When at the earliest should I apply?

Asked by: Sathya
You can finance up to $250,000 (up to 100% LTV*) with an Apple FCU Home Equity Loan, based on a complete application/credit review. Our current processing time is about 4-6 weeks, so apply mid-July-early August if you're aiming for the start of September. That timing may vary. Note that now through June 30, if you open a Home Equity Line of Credit, your approved rate will be locked until 2018; rates start as low as 2.99% APR*. The timing is similar, and you wouldn't have to take any advance on the funds until you were ready. To learn more, visit https://www.applefcu.org/AppleWeb/Promotions#heloc. To speak with a loan specialist to see which may be better for you, call 703-788-4800, option 4.
Answered by: AppleFCU
Date published: 2017-06-01

Hello, I am interested in paying off a second mortgage (HELOC) at another bank with a Home Equity Loan from Apple. Is this possible? Thank you

Asked by: BP VA
Yes, it's something that can be done. To begin the application process to see how we can help, visit https://www.applefcu.org/Loans/MortgageBot.
Answered by: AppleFCU
Date published: 2017-05-30

What is the max DTI that you will lend at?

Asked by: Kevin7171
Typically it's 45%, but that's not the only underwriting factor. We'd welcome your application at https://www.applefcu.org/Loans/MortgageBot to see how we may be of assistance. Plus, if you apply before June 30, 2017 for our Equity Line of Credit, your rate will be locked until 2018.* For promotion details, visit https://www.applefcu.org/AppleWeb/Promotions#heloc.
Answered by: AppleFCU
Date published: 2017-05-25

Hi, I am looking into home equity loans or line of credit. . I'm wanting to consolidate some debt and make some home improvements. I purchased my house in June of 2016, do i have to wait until the exact date i purchased my house to apply for the loan

Asked by: felicia
You are currently eligible for a Home Equity Line of Credit or an Equity Loan. If you're ready to apply, visit https://loanapp.applefcu.org/. Should you have additional questions, it's best to speak with a loan officer directly so they can provide details specific to your request. Feel free to give us a call at 703-788-4800 or visit any Apple FCU branch.
Answered by: Apple FCU
Date published: 2017-05-15

what is the difference between an equity loan and a equity line of credit ?

Asked by: JesseS
At its most basic, a line of credit (LOC) is an open-end, revolving loan. Let's say for example, you'd get approved for $30,000. You could draw and pay-down on that limit repeatedly. This could be used if you've got a number of home improvements to complete, are preparing for a wedding where you'll need to pay multiple vendors, etc. A loan on the other hand would disburse that $30,000 to you in one lump sum, with a set repayment term. In terms of your credit report, it's categorized as an installment loan. These are great if you're doing debt consolidation, or for a one-time purchase, like a deck. Rates for an LOC are variable and your payments fluctuate based on your balance. With the Loan however, the rate is fixed at the time of closing, so you have equal payments for the duration of the payback period. Should you have additional questions, it's best to speak with an equity specialist directly since they may be more specific to you. Feel free to just give us a call at 703-788-4800, option 4.
Answered by: AppleFCU
Date published: 2017-05-09

I would like to begin the process to apply for a home equity loan.

Asked by: Anonymous
To apply for a Apple FCU Home Equity Loan, visit https://www.applefcu.org/Loans/MortgageBot. The online application should take you about 15 minutes to complete, and then an equity specialist will be in touch after its reviewed. We look forward to serving you!
Answered by: AppleFCU
Date published: 2017-05-09
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