Home Equity Loans

APPLY HERE

Home Equity Loan

Turn Equity into Opportunity When you need funds for a significant expense, a Home Equity Loan from LES People’s FCU can help you move forward with confidence.

Members across New York City and some close areas can use their home’s equity to consolidate higher-interest debt, tackle major projects, or cover unexpected costs—all with the security of a fixed-rate, lump-sum loan.

Requirements

  • ✔️ Receive 1 single lump sum
  • ✔️ Fixed rates as low as 5.99% APR*
  • ✔️ Flexible 10, 15 or 20 year terms
  • ✔️ Borrow up to 80% of the available equity in your home—up to $100,000
  • ✔️ Available on properties in NYC, and some selected areas outside NYC

To apply for our Home Equity Loan, please log in to your account. Not a member yet? Join LES People’s FCU today.

 

Home Equity Line of Credit Promotion

A Home Equity Line of Credit (HELOC) at LES People’s FCU is a variable-rate line of credit based on your home’s value, allowing you to borrow and repay funds as needed over a set period of time.

Requirements

  • ✔️ No annual fee
  • ✔️ No minimum credit score required
  • ✔️ Rate adjusts quarterly (not monthly)
  • ✔️ No initial withdrawal requirements
  • ✔️ No closing costs for loans under $50,000

Loan Details

  • ✔️ Loan limit up to $150,000
  • ✔️ 10-year draw period / 10-year repayment period
  • ✔️ Variable APR
  • ✔️ Rates never higher than 18% APR*
  • ✔️ Loan-to-Value (LTV) up to 70%

To apply for our HELOC, please log in to your account. Not a member yet? Join LES People’s FCU today.

 
 

Contact one of our Member Service Representatives if you have additional questions at (212) 529-8197 ext.0126 or by emailing lending@lespfcu.org.

 

APR* = Annual Percentage Rate. The APR* is variable based on the U.S. Prime Rate as published in the Wall Street Journal, plus a margin (if applicable). HELOCs are variable rate products and rates may not exceed the maximum legal limit for Federal credit unions (currently 18%). Rates and terms are subject to change without notice. All offers of credit are subject to credit approval requirements and applicants may be offered credit at higher rates and other terms. Loan to Value (LTV) and/or Combined LTV (CLTV) restrictions apply. Hazard insurance is required on all loans secured by real property (flood insurance may also be required where applicable). Rate shown is based on borrower’s primary residence, a maximum CLTV of 70%, no initial draw required. The maximum amount for HELOC is $150,000. Closing costs will be paid by LESFPCU for loan up to $50,000. Must qualify for membership at LESPFCU at or prior to HELOC account opening.