Home Equity Loans

A home equity line of credit (HELOC) lets you access the equity built in your home when you need it, rather than all at once like with a traditional, fixed-rate loan. This gives you the flexibility to access funds on a need basis, and you can re-use without having to re-apply.

The cash is yours to use for any purpose, and interest may be tax-deductible.^* Ask your First Community loan specialists about this excellent financing option. 

We offer an Interest-Only Home Equity Loan for the absolute lowest monthly payment or a Fully Amortizing Home Equity Loan to help you reduce your principal balance each month.

• Turn home equity into funds for anything
• Low rates and flexible terms
• Fixed terms or open lines of credit available
• A variety of options available:
  • First Line Home Equity Loan
  • Interest-Only Home Equity Loan
  • Choice Equity Loan
• Refinance and save money
• Interest may be tax-deductible^*
• Competitive rates
• Flexible terms
• Affordable monthly payments
• Fast, easy process
• Local decisions made in the St. Louis area
• Prompt responses and personal service

Ready to Apply?

Apply online now! Or call us at (636) 728-3380 or 1-888-642-7969.

The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), requires credit union mortgage loan originators (MLO) and their employing institutions to register with the Nationwide Mortgage Licensing System and Registry (NMLS). Once registered, each MLO is provided a unique identifier from the NMLS. Below is a list of the MLO's employed by First Community Credit Union (NMLS ID # 684198). 

See MLO list here. For more information about the registry, please visit the NMLS website. 

Get a free annual credit report.

*Consult a tax advisor. 

**The First Line Home Equity has a five year draw period with a minimum payment of $100 or principal plus interest, whichever is greater. The amount advanced is amortized over 10 years. Payment due date must be the 15th or last day of the month. The rate is indexed quarterly to the Prime Rate as published in the Wall Street Journal, plus .74%. 90% maximum loan to value. The Annual Percentage Rate (APR) is subject to change after consummation. The maximum APR that can apply is 18.00%. Offer of no closing costs does not apply to refinances with First Community. Available to primary residences only in Missouri and Illinois.

***The First Line Interest-Only Home Equity Loan has a five-year draw period with a minimum payment due of monthly interest accrued. Minimum payments will not repay principal. After the draw period we will recalculate the payment based on the current balance, current interest rate and 120 month repayment. Payment due dates must be the 25th of each month. The rate is indexed quarterly to the Prime Rate as published in the Wall Street Journal, plus .74%. 90% maximum loan to value. The Annual Percentage Rate (APR) is subject to change after consummation. The maximum APR that can apply is 18.00%. Offer of no closing costs does not apply to refinances with First Community. Available to primary residences only in Missouri and Illinois.

Obtain a Fixed-Rate Second Mortgage when you want a fixed payment for the entire loan term.

Choice Equity Loan

Members with some equity in their home may qualify for the Choice Equity Loan. This option lets you borrow from $2,500 to $75,000, at a fixed rate, to finance your larger projects. 

Apply online now! Or call us at (636) 728-3380 or1-888-642-7969. 

*Choice Equity Loan features: maximum 90% LTV; take up to 15 years to repay, depending on the amount borrowed. Available to all primary residences in the United States. 

A home equity line of credit (HELOC) lets you access the equity built in your home when you need it, rather than all at once like with a traditional, fixed-rate loan. This gives you the flexibility to access funds on a need basis, and you can re-use without having to re-apply.

The cash is yours to use for any purpose, and interest may be tax-deductible.^* Ask your First Community loan specialists about this excellent financing option. 

We offer an Interest-Only Home Equity Loan for the absolute lowest monthly payment or a Fully Amortizing Home Equity Loan to help you reduce your principal balance each month.

First Line Home Equity Loan^**

Our First Line home equity loan is tied to prime rate and available to Missouri and Illinois residents. Take advantage of this open line-of-credit loan with no closing costs. The minimum credit line is only $5,000. Access your home equity line anytime and take up to 10 years to pay. Financing up to 90% LTV available.

Interest-Only Home Equity Loan^***

A home equity line of credit is great to have for whatever life throws at you. But, if you want the lowest possible monthly payment, a First Line Interest-Only Home Equity Line of Credit gives you even greater flexibility. Take advantage of these open line-of-credit loans with no closing costs and pay only the monthly accrued interest for the first five years with the option to pay as much principal as you would like. 

You can apply online, in person or by phone at (636) 728-3380 or 1-800-767-8880.

*Consult a tax advisor. 

**The First Line Home Equity has a five year draw period with a minimum payment of $100 or principal plus interest, whichever is greater. The amount advanced is amortized over 10 years. Payment due date must be the 15th or last day of the month. The rate is indexed quarterly to the Prime Rate as published in the Wall Street Journal, plus .74%. 90% maximum loan to value. The Annual Percentage Rate (APR) is subject to change after consummation. The maximum APR that can apply is 18.00%. Offer of no closing costs does not apply to refinances with First Community. Available to all primary residences in Missouri and Illinois.

***The First Line Interest-Only Home Equity Loan has a five-year draw period with a minimum payment due of monthly interest accrued. Minimum payments will not repay principal. After the draw period we will recalculate the payment based on the current balance, current interest rate and 120 month repayment. Payment due dates must be the 25th of each month. The rate is indexed quarterly to the Prime Rate as published in the Wall Street Journal, plus .74%. 90% maximum loan to value. The Annual Percentage Rate (APR) is subject to change after consummation. The maximum APR that can apply is 18.00%. Offer of no closing costs does not apply to refinances with First Community. Available to all primary residences in Missouri and Illinois.

Are you ready for a landscaping project or to build on a new room? Turn it into something beautiful and lasting with little equity in your home!

With our Home Improvement Home Equity, you'll enjoy these features:

• Low fixed rate
• 100% Loan to Value
• Closed-end loan
• Maximum loan amount is $25,000
• 120-month term

Please note that this product is for our Missouri and Illinois residents only.

*Home Improvement loan features: minimum loan amount is $2,500; maximum loan term up to 120 months; a portion of the loan proceeds must be used for home improvements.