Home Equity Loan
A Cove Federal Credit Union Home Equity Loan is a Fixed Rate Loan that you can set for 5, 10, or even 15 years. Funds are disbursed in one lump sum and your monthly payment doesn’t change. These loans take the budgeting guesswork out by giving you one consistent monthly payment over the entire term of your loan.
Home Equity Line of Credit
A Cove Federal Credit Union Home Equity Line of Credit (HELOC) works a lot like a credit card. You apply just once and a credit line is established. Then, whenever you need some or all of the money up to that established line of credit, you just write yourself a check, access the funds from your Home Banking site(s) or drop into the office. The great thing about these loans is that you can continue to pay back and reuse the line of credit over a full 10 years.
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