Put Your Home’s Equity to Work for You
Your home holds more than memories—it holds financial potential. Whether you’re renovating, consolidating debt, funding tuition, or making a major purchase, a Home Equity Loan or Line of Credit from Diamond Valley Federal Credit Union can help you move forward with confidence. With flexible options, competitive rates, and up to 100% of your home’s value available, DVFCU gives you the power to borrow smart—securely and affordably. Our trusted team is here to help you explore the right solution for your goals.
Home Equity Line of Credit
Home equity lines of credit are an excellent source of credit for homeowners that need to borrow money. Our home equity line of credit works similar to a credit card, allowing users to borrow up to an approved line of credit. Using the equity in your home can help meet your borrowing needs at a low rate.
Home Equity Line of Credit Features:
- Use it for ANYTHING!
- As low as 7.00% APR* variable rate
- Up to 100% of home value
Home Equity: Two Great Ways to Borrow
Whether you’re tackling a renovation, consolidating high-interest debt, or covering big expenses like college tuition, Diamond Valley Federal Credit Union offers flexible home equity options to fit your needs. Both our Home Equity Loan and Home Equity Line of Credit (HELOC) let you borrow against the value of your home—but they work in different ways.
Wondering which option makes the most sense for your goals? Here’s a side-by-side comparison to help you choose the best path forward.
Feature | Home Equity Loan | Home Equity Line of Credit (HELOC) |
Type of Funding | Lump-sum amount | Revolving line of credit |
Interest Rate | Fixed rate | Variable rate |
Loan-to-Value | Up to 90% of home value | Up to 100% of home value |
Repayment Structure | Fixed monthly payments | Flexible payments based on amount used |
Best For | One-time large expenses (renovations, debt) | Ongoing or unpredictable expenses |
Closing Costs | May apply | No closing costs |
Minimum Advance | N/A | $3,000 |
Flexibility | Less flexible—fixed term and amount | Highly flexible—borrow as needed |
Usage Examples | Home remodel, tuition, major purchase | Emergency funds, phased home projects, etc. |
*Rates subject to change without notice. Call our team at (812) 425-5152 for more information.
Home Equity Loans
A home equity loan, also secured by your home’s equity, allows you to borrow a fixed amount that you receive in one lump sum. The amount you will qualify for is calculated based on your home’s loan-to-value ratio, payment term, your income and your credit history.
Home Equity Loan Features:
- Use it for ANYTHING!
- Fixed Interest Rate as low as 7.32% APR
- Up to 90% of home value
Protect Your Loan—and Your Peace of Mind
When you borrow through a Home Equity Loan or Line of Credit, your home serves as collateral for the loan. That’s why Diamond Valley Federal Credit Union requires homeowners insurance to remain active and up to date for the life of the loan—it’s an essential safeguard that protects both you and the credit union from uninsured loss.
If insurance coverage lapses, we may place a collateral protection insurance policy on the loan, which adds cost to your monthly payments. It’s important to know that this coverage protects DVFCU—but does not cover you or your home—and is no substitute for traditional homeowner’s insurance.
To avoid the added expense and ensure uninterrupted protection, please keep your policy current and respond quickly to any notice from our Insurance Department requesting proof of coverage. Staying on top of your insurance is the easiest way to protect your home, your wallet, and your peace of mind.
Questions? Call our team at 812-425-5152—we’re here to help.
Looking for the Right Home Equity Line of Credit? Start Here.
With so many promotions and flashy offers out there, shopping for a Home Equity Line of Credit (HELOC) can feel overwhelming. At Diamond Valley Federal Credit Union, we keep it simple—and we keep it smart.
Here’s what sets our HELOC apart:
- No closing costs – What you borrow is what you use.
- Low variable interest rate – Based on the Prime Rate published monthly in The Wall Street Journal.
- Flexible minimum payment schedule – Helping you save month after month.
While other lenders try to lure you with gimmicks, DVFCU offers transparent terms, trusted service, and real value. It’s borrowing designed with your goals in mind.
Call 812-425-5152 to learn more about our low-cost home equity options—and let’s turn your home’s equity into opportunity.
Typical use of funds for each include:
- Consolidating debt
- Home improvements,
- Buying a new auto
- Paying for tuition.
Apply for your Home Equity Line of Credit or Home Equity Loan today. Call our Mortgage Department at 812-425-5152.
*APR = Annual Percentage Rate. The variable rate is based on the Prime rate as published in the Wall Street Journal and is dependent upon the equity in your home. Rate may change without notice. Maximum APR is 18%, Minimum APR is 4%. Qualified loan borrowers must meet membership qualifications and certain loan requirements. Borrower¹s primary residence only. Homeowner¹s insurance required. Title, appraisal, flood determination, and recording fees are required. Minimum advance is $3,000. Call for details.
Avoiding the Cost of Collateral Protection Insurance
As the lienholder on your vehicle and many others, we depend on comprehensive and collision insurance to protect our credit union from uninsured loss. The terms of your loan contract require this coverage for the life of the loan. Still, members sometimes allow their coverage to lapse.
When this happens, a collateral insurance policy is placed on the member’s loan with the cost added to the monthly payments. Collateral protection insurance protects the credit union, but does not cover the borrower, and is no substitute for traditional insurance.
You can avoid the added cost of collateral protection insurance by keeping your insurance policy up to date. Should you receive a notice from our insurance department asking for proof of insurance, we encourage you to respond quickly to avoid any inconvenience. For questions on collateral protection, please give us a call at 812-425-5152.
Shopping For the Right Home Equity Line of Credit
Shopping for a home equity loan may be confusing. There are many specials and offers designed to lure you to take out a home equity loan at various other financial institutions. What makes DVFCU’s Home Equity Line of Credit so different than the others? It’s simple.
- There are no closing costs for a DVFCU Home Equity Line of Credit.
- The DVFCU Home Equity Line of Credit comes with a very low variable interest rate. The interest rate is based on the Prime Rate as published on the first business day of each month in the Wall Street Journal.
- Diamond Valley FCU also offers a minimum payment schedule that can save you money each month.
Call 812-425-5152 to learn more about the low-cost home equity options available at your credit union.
