Our most popular equity loan is the fixed rate Second Mortgage. The second mortgage allows you to borrow for a one time big expense. The amount financed is based on a loan-to-value ratio up to 80% with a fixed interest rate. Interest paid on second mortgages may be tax deductible (consult your tax advisor).

No closing cost on LCU's Second Mortgage!  (Closing costs subject to reimbursement if loan is satisfied/paid in less than 24 months.)  Settlement Cost Booklet.

To estimate your home’s equity use the following calculation:

• Appraised Value of Home
• Multiply by Percentage
• Equals the Percentage of Appraised Value
• Less Balance owed on First Mortgage
• Maximum you can Borrow 
  
  

  RATES:

             5.64%      60 - 84 months     80% and under LTV

5.99%      85 - 120 months   80% and under LTV

6.74%    121 - 180 month     80% and under LTV