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Home Equity Loans

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Tap into your home's value with one of our home equity offerings!

Make the most of your home's equity by taking advantage of the value you've been building. Our two home equity options are the perfect way to access potential sources of funding. Whether you have a lot of equity in your home or your home is paid off, our options can help you! Instead of interest rates solely dependent on your credit score, we take into account your home's value, your current outstanding mortgage and what lien position will be placed for this loan. With some of the lowest rates in Oakland and Livingston counties, our home equity offerings could be a great way to:

  • Consolidate debt
  • Remodel, repair or enlarge your home
  • Pay for a loved one’s education

Regardless of which home equity option you decide to go with, you'll enjoy low rates with no annual fees or application costs!

Home Equity Line of Credit

Variable Rates as Low as 1.99% APR

Not sure how much you’ll need or prefer to have a low-cost credit option available to you when you need it?  Our home equity line of credit is the option for you.

  • Access up to 80% of your home's equity based on the combined loan to value with a minimum of $5,000 and maximum of $250,000
  • Low, affordable monthly payments (Minimum monthly payment is interest only, any additional amount paid is applied to the principal balance)
  • Draw period of 10 years and repayment terms up to 15 years
  • Access your funds by check, phone or an advance in person at any LOC office
  • Lump sum payments can be made at any time with no pre-payment penalties
  • Quick turnaround and loan processing time

Fixed-Rate Home Equity Loans

Rates as Low as 2.65% APR

Use this option when you know exactly how much you need to borrow or have a specific purpose in mind for the funds.

  • Access funds up to 80% of your home's equity with a minimum of $5,000 and a maximum of $300,000
  • Closed-end, fixed-rate loan disbursed in one lump sum
  • Repayment terms of up to 7, 10, 15 or 20 years
  • Quick turnaround and loan processing time

*LOC covers all the costs, but if the applicant elects to have a full appraisal, it will be at the applicant's expense. The cost of the appraisal will be reimbursed when the loan is funded.


For rate options for second/vacation home, click here

Home Equity Line of Credit
Effective Date: Saturday, May 15th, 2021
10 Year Draw - 15 Year Repayment
Adjustable APR As Low AsLTV RequirementsMinimum or Maximum
1.99% 60% CLTV or 80% LTV First Lien $5,000 Min/$250,000 Max
1.99% 60.01%-80% CLTV $5,000 Min/$150,000 Max
APR = Annual Percentage Rate

Financing is only available on single unit, owner-occupied, primary residences.

*Introductory offer. Available for the first 12 billing cycles after the loan closes (not when the advance is made). After the introductory period, the loan reverts to the APR as stated in the HELOC agreement.

Rates are not risk-based, all members will get the same low rate based on loan to value of their home.

Home Equity Loans
Effective Date: Saturday, May 15th, 2021
TermRates as low asMaximum LTVLien Position
Up to 7 Years 2.65% 80% 1st
Up to 7 Years 3.24% 80% 2nd
10 Years 3.74% 80% 1st
10 Years 4.24% 80% 2nd
15 Years 3.99% 80% 1st
15 Years 4.49% 80% 2nd
20 Years 4.24% 80% 1st
20 Years 4.74% 80% 2nd

Rates are not risk-based; all members will get the same low rate based on the loan to value of their home and LOC's lien position.

Minimum amount to borrow is $5,000; maximum amount is $300,000.

Example: A loan amount of $75,000 with a rate as low as 2.99% for 60 months would have an approximate monthly payment of $1,350.01

APR = Annual Percentage Rate


Second / Vacation Home

Home Equity Loans - Second Home
Effective Date: Saturday, May 15th, 2021
TermRates As Low AsMinimum or MaximumMaximum LTV
Second / Vacation Home
Up to 10 Years 4.99% $5,000 Min/$35,000 Max 70%



Their Dreams. Our Ideas.

Adin from the Hartland branch walked me through the process I needed to go through for some upcoming home improvements and made it so easy. I love LOC and the community feel. From now on, it's the only place I'll go for banking.

Heather and LOC

More Stories
No equity and need money for a home improvement?

Our personal loan offers a fixed rate as low as 6.99% Fixed APR.

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