
You may be able to refinance your home, get cash out at closing, and enjoy a lower rate.
Home Equity
Put the equity in your home to work for you. Whether you need money for home improvements, vacation, bill consolidation or any other good reason, we have the solution that's right for you!
Mortgage Department 866-300-8240
We have the money you need and the rate you want.
You'll love our no closing cost, tax-deductible lending solutions! (Consult your tax advisor)
| Home Equity Line of Credit | Home Equity Loan | |
| Ideal Use | Can be used any time for ongoing expenses. | Can be used for one-time major expenses. |
| Funds Distribution | Funds disbursed as needed using a home equity line check, or by transfer online |
Funds disbursed in one lump sum |
| Interest Rate | Variable interest rate | Fixed interest rate |
| Monthly Payment | Monthly payments depend on the current rate and unpaid balance | Fixed monthly payment amounts |
| Loan Amount | Up to 70% loan-to-value | Up to 80% loan-to-value |
| Closing Costs | $0* | $0* |
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Home Equity Loans
You'll love this low fixed rate and specified repayment term. This loan is great for a one-time purchase such as an addition to your home, vehicle purchase or debt consolidation.
- Fixed Interest Rate and Term
- No Closing Costs**
- Tax deductible (consult your tax advisor)
- Loans available up to 80% loan-to-value
- .25% APR discount for automatic repayment
- Maximum loan amount: $100,000
For more information, contact us at mortgagedcu@dom.com, or by phone at 866-300-8240.
Home Equity Line of Credit
This variable-rate line of credit is ideal for recurring purchases like continuing home improvements and tuition payments.
- Variable Interest Rate
- No Closing Costs**
- Tax deductible (consult your tax advisor)
- Write checks to access your line of credit
- Transfer from your line to your Dominion accounts using Online Banking
- Lines of credit available up to 70% loan-to-value
- .25% APR discount for automatic repayment
- Maximum line of credit $100,000
For more information, contact us at mortgagedcu@dom.com, or by phone at 866-300-8240.
*Only available in VA, NC, WV, MD, PA, and OH.
** Subject to loan-to-value and credit qualifications. Minimum loan amount is $15,000. Minimum line amount of $15,000 and minimum initial draw of $2,500 on line. Other restrictions may apply. If you close a home equity line or pay off a home equity loan within 36 months after getting it, you may be required to reimburse the credit union for closing costs. Title Insurance may be required. Only available in VA, NC, WV, MD, PA and OH.