*The rebate will be 1% of the total amount advanced during the first 30 days after the account is opened at Dupaco, with a maximum cash back of $300. Subject to loan approval. Total amount advanced during the first 30 days must be at least $5,000. Cash back will be paid within 45 days of account open date. Cash back may be reportable on IRS form 1099-MISC. Member is responsible for any and all taxes.
A Dupaco Home Equity Line of Credit gives you flexible, ongoing access to funds that you can use for home improvements, emergency expenses, large purchases, paying for school, consolidating other debt or however else you may choose!
- Borrow up to 100% of the equity your home ($5000 minimum)
- Closing costs will be paid by the credit union to a maximum of $350
- Dependable payment protection options
- No annual fees
Your home doesn’t even have to be mortgaged through Dupaco to qualify for our home equity line of credit. You’ll receive the same great Dupaco terms and rate no matter who your current lender is!
Understanding Home Equity
Equity is the difference between the appraised value of your home and what you owe on your mortgage. Equity is the part of your home’s value that belongs to you, not your lender. Borrowing against the equity in your home may net you tax advantages, too*!
Here’s how it works…
With a line of credit, you can borrow money when you need it but you only have to apply and receive approval one time. It works kind of like a credit card, but a home equity line of credit often offers access to larger dollar amounts at a lower rate.
- Apply only once
- Borrow what you need, when you need it (up to your approved limit)
- Pay interest only on the funds you use
- Funds become available again once you pay them off.
* Consult a tax adviser regarding the deductibility of interest.