Home Equity Loan 

Your home is more than a place to live. It's an investment that grows in value over time. Lake Trust Credit Union offers an easy, affordable way to borrow against that value for things you need, such as home improvements and additions, college tuition, new or used vehicles, bill consolidation, or vacations.

With a Lake Trust Michigan Home Equity Loan, closing costs vary depending on your situation. Your interest may be tax deductible. Check with a tax advisor for your particular circumstances.

Michigan Home Equity Loan Options

Fixed Rate Home Equity Loan

Low interest rates and flexible terms make this a good way to borrow. With this loan, your home is collateral, and your loan repayment is predictable:

• Equal payments over a fixed period of time
• Can qualify for up to 80% of equity (To calculate this amount, take 80% of the verifiable value of your home and subtract what you currently owe on your home. What is left is equity. Certain restrictions may apply.)

Home Equity Line of Credit (HELOC) with Variable Rate

HELOC is a form of revolving credit. Your home serves as collateral, and you're approved for a maximum amount of credit – that's called your credit limit. HELOC benefits include:

• Low, variable interest rate
• Five year draw period (that can be extended)
• Payment is 2% of the outstanding principal balance ($100 minimum)

You can access funds through HELOC checks, Internet Banking, Phone Banking, calling the Member Contact Center, or visiting any branch.

°APR=Annual Percentage Rate. Discount applies to qualified borrowers only. Contact Credit Union for full details.

Consult a tax advisor regarding your deductibility of interest. Rates based on credit history, term, security, and amount borrowed. Home serves as collateral. Five year draw on HELOCs that can be extended upon review. Payment is 2% of the outstanding principal balance with a minimum of $100.