Let Your Home Give Something Back
We offer a closed end fixed rate Second Mortgage Loan or better known as a Home Equity Loan to members on their primary residence with terms up to 15 years. The home must be an existing single-family, block or frame, detached residence located in Florida or Georgia (loans are not available on vacation homes, rental properties, mobile homes, condominiums or townhouses).
Financing is available up to 90% of the current appraised value minus the existing first mortgage loan balance (100% if PEFCU currently holds the first mortgage loan). The minimum loan amount is $10,000.
The loan proceeeds can be used for any worthwhile purpose, such as, home improvement, debt consolidation, and/or investment.
We do not offer a Home Equity Line of Credit (HELOC).