More than a happy place. It’s a game plan.

Even the most carefully planned expenses can catch you off guard. Whether it’s a medical bill, rising tuition or a big-ticket purchase, your home can help you stay steady. With a fixed-rate home equity loan or variable-rate line of credit from Earthmover, your happy place becomes your financial game plan.

What's home equity?

It’s the difference between what you owe on your mortgage and what your home is worth. At Earthmover, we offer home equity loan options to tap into that value and cover life’s bigger expenses.

Home Equity Loans

Real comfort is knowing you’ve got options.

The ideal option when you know exactly how much you need to borrow. You’ll get a lump sum with no closing costs, paired with terms that work for you.

  • Fixed rates as low as 7.00% APR¹
  • No closing costs²
  • Borrow up to 85% LTV¹
  • Terms up to 15 years

Apply today See what you could borrow

Consolidate and save. A home equity loan lets you consolidate high-interest debt into a single, low-interest payment.
Fund anything you need. With a home equity loan, you can fund tuition costs, emergency bills and of course, home improvements.
Home Equity Line of Credit

Looking for flexibility?

Our home equity line of credit (HELOC) might be just what you need—with zero closing costs and the freedom to borrow when and how you want, up to your credit limit. It’s a great option if you’ve got ongoing expenses and want a little extra financial wiggle room.

  • Variable rates as low as 7.00% APR³
  • No closing costs²
  • Borrow up to 85% LTV³
  • Terms up to 15 years

Apply online

A home equity line of credit (HELOC) lets you borrow against your home's value, like a credit card, but typically with lower rates and your home as collateral.
Which is right for me?

Home Equity Loan vs. HELOC?

Both of these loans have one thing in common: they use the equity in your home to secure funds. What those funds are used for is up to you, but how they're paid back is a key difference between the two.

Home Equity Loan Home Equity Line of Credit
Adjustable interest rate
Fixed interest rate
Receive a lump sum
Draw money as you need it
Can use funds for anything you need them for
Check writing privileges
Home Equity Calculator

How much can I borrow?

Use the calculator to get an idea of how much you can borrow based on your ownership of your home. By entering some basic information, you can quickly estimate your maximum home equity loan amount.

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Maximum home equity loan amount

This calculator is for estimation and informational purposes only. Calculations are based on 85% loan-to-value. Price presented is not a final, binding notification of what your actual monthly payment will be. Whether you can qualify for a home equity loan depends on several factors, including your credit history and the amount of equity in your home. Speak to an Earthmover team member for more information.

Digging deeper: Home lending FAQs

How is the interest rate on a home equity loan determined? Home equity loans come with a fixed interest rate, which means your rate (and monthly payment) stays the same for the life of the loan. The rate you’re offered depends on factors like your credit score, loan term, and how much equity you have in your home.
Can I pay off a home equity loan early without penalties? You sure can! At Earthmover, there are no penalties for paying your loan off early. There is a fee reimbursement up to $300.00 required for home equity lines of credit closed within 24 months.
Can my HELOC rate change over time? Yes. HELOCs have variable interest rates, which means your rate can go up or down based on market conditions. That means your monthly payments could change over time, especially during the repayment period. At Earthmover, the rate of interest adjusts three times per year (2/15, 6/15, and 10/15). The interest rate is indexed off the Wall Street Journal Prime rate, and the index varies based on the amount of your credit limit.
How do home equity loans and HELOCs affect my home's equity? Both products use your home as collateral, which means you’re borrowing against your equity. As you repay the loan or line of credit, your equity builds back up. But if home values drop, or you borrow too much, you could end up owing more than your home is worth—so it’s important to borrow responsibly.
Can I switch between a home equity loan and a HELOC later on? You can’t convert one directly into the other, but you can refinance a HELOC into a fixed-rate loan—or take out a HELOC after having a home equity loan. It depends on your financial needs and how much equity you still have available.

More ways Earthmover Credit Union can help.

Always at your side

We’re here to help you remain financially stable through uncertain economic times and come out on the other side even stronger. From saving money for a new car to putting away funds for a relaxing retirement—and everything in between—we have the savings accounts you need to feel secure for what lies ahead.

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Working to keep more money in your pocket

Since 2011 we've saved members $51,661,024 by refinancing their loans from other financial institutions. If you have a high-rate loan on your vehicle, your RV, your boat, your mortgage and/or your credit card, come talk with us and let’s work to keep more money in your pocket.

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Saving comes naturally.

Need another reason to become an Earthmover? How about 7.6 million ones? Last year alone, Earthmover was able to collectively save our members $7.6 million compared to customers at larger banks with similar loans and accounts.

At this credit union, you are so much more than just a profit center disguised as an account number. Sure, you’re a member—and a valued one at that. But you’re also an owner with a say in how we move forward.

We invite you to finally just say "no" to those big-box banks with their high rates on loans, low yields on savings and expensive (often hidden) fees.

Aim to save