Home Equity Loans
& Lines of Credit

HOME EQUITY LOANS

If you’re looking to finance a major expense, a Home Equity Loan may be right for you. Whether you’re planning a grand vacation, funding college tuition, or starting a home improvement project, a Home Equity Loan lets you borrow using the equity in your home as collateral with a fixed interest rate.

• Finance up to 80% of the value of your home
• NO CLOSING COSTS
• Flexible terms with predictable payments—set up automatic payments for YOUR schedule. Choose from weekly, biweekly, monthly, or semi-monthly payment withdrawals
• Competitive interest rates – plus earn a rate discount when you set up automatic payments with your CME Credit Union Account*

*advertised rates are based on autopay discount of .50%

HELLOC vs. Home Equity

HELOC

HOME EQUITY

Fixed-interest rate

   X

Variable-interest rate

X

Lump-sum disbursement

X

Withdraw funds as needed

X

Pay based on amount

X

No closing Costs

X

             X

Use home as collateral

X

             X

HOME EQUITY LINES OF CREDIT

Considering a home renovation or planning for a major expense? A Home Equity Line of Credit may help.

You decide when and how much to withdraw from your line of credit and only make a payment on what you withdraw. Get ongoing access to funds with a Home Equity Line of Credit. You can use it to pay for renovation, tuition, consolidate higher interest rate debt, or finance just about anything else that’s on your priority list. Applying for a Home Equity Line of Credit is simple and budget-friendly.

Features:

• Finance up to 80% of the value of your home
• Competitive interest rates*
• NO CLOSING COSTS
• Use and reuse your line as you re-pay
• Access your available funds easily by transferring to your CME Credit Union account online or withdraw funds with a check

*advertised rates are based on autopay discount of .50%

To apply for a loan — stop in or log-on to your Online Banking Account to submit an application.

Questions? Call us at 401.463.3010 or visit us at 1615 Pontiac Ave. Cranston, RI 02920

CONTACT US

401.463.3010

1615 Pontiac Ave, Cranston, RI 02920-4491

M-F: 10am-4.30pm, S-S: Closed

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Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.  NMLS ID 699359