Get the Most Out of Your Home
We offer a closed-end, fixed-rate Second Mortgage Loan (better known as a Home Equity Loan) to members on a primary residence with terms up to 15 years. The home must be an existing single-family block or frame residence located in Alabama, Florida, Georgia, North Carolina, South Carolina, Tennessee, and Virginia. Second Mortgage Loans are not available on vacation homes, rental properties, mobile homes, or condominiums.
Financing is available for up to 90% (100% if PEFCU holds the first mortgage loan) of the current appraised value minus the existing first mortgage loan balance. The minimum loan amount is $10,000.
The loan proceeds can be used for any worthwhile purpose; i.e., home improvement, debt consolidation, investment, etc.
Shop For Your Home With Confidence
Whether it's your first time purchasing or you're looking for a refresher, we are here to help. We've created this checklist specifically for you to ensure the whole home buying process goes smoothly.
We do not offer a Home Equity Line of Credit (HELOC).