Home Equity Options

Pay for major expenses with a home equity loan or line of credit.

Access up to 100% of your home's equity

  • Competitive rates help you get the most out of your equity
  • Use money for major home improvements, college expenses or to consolidate high-interest debt
  • Interest might be tax-deductible; consult your tax advisor for full details
  • Both the Home Equity Loan and Home Equity Line of Credit are eligible for an annual Loyalty Bonus payout
  • id AllySM : Our identity theft recovery program is included free with this product

Choose the product that works for you

Home Equity Options Benefits

Home Equity Line of Credit1

Turn the value of your home into a smart financing option.

  • 100% financing option available
  • Access money when you need it
  • Interest-only option available
  • No annual fees, minimum draw fees or prepayment penalties

Home Equity Loan2

Opt for stability and one low payment.

  • 100% financing option available
  • Fixed monthly payment
  • Flexible repayment terms, from 5 to 20 years
  • No annual fees, minimum draw fees or prepayment penalties

Resource Center

How to Build Credit and Why it's Important

When's the last time you checked your credit report? Errors on your credit report can lower your credit score - and you may not even be aware of them. The FTC says one in four people found an error on their credit report that could affect their credit score.

Managing Your Loans: Debt Consolidation

If you have a lot of debt, you're not alone. Today, more and more Americans are burdened with credit card and loan payments. So whether you are trying to improve your money management, having difficulty making ends meet, want to lower your monthly loan payments, or just can't seem to keep up with all of your credit card bills, you may be looking for a way to make debt repayment easier.

Lunch Tracker - Visa

The LunchTracker app from Visa helps you mange your spending and start saving money.

Making a budget is now made easier with the LunchTracker app from Visa. Regardless if you pack, eat at home or out at a restaurant, this app allows you to track how much you are spending when you have lunch. Because regardless of how you enjoy your lunch, these charges all add up. Keeping track of this daily expense can help you set spending goals and start saving.

Download mobile apps:
  • Download on the App Store
  • Get it on Google Play

Coastal Digital Banking - Coastal Credit Union

Coastal has upgraded our online banking and mobile banking platforms to a brand new unified system, which we are calling Digital Banking.

Access your Coastal Federal Credit Union accounts, quickly and conveniently, wherever you are with COASTAL Digital Banking! COASTAL Digital Banking allows you to check balances, make transfers, pay bills, and more!

Download mobile apps:
  • Download on the App Store
  • Get it on Google Play

I was able to buy my first home on my own without using all of my savings.
Margaret H.

1 - APR = Annual Percentage Rate. The APR for a Coastal Federal Credit Union Home Equity Line of Credit is variable and based on Prime Rate as published in the Wall Street Journal, ten days before the end of the prior month (called the "Index"), plus a margin. The index as of October 31, 2019 is 4.75%.  As of November 15, 2019, margins range from -0.76% with Relationship Pricing to +5.49% without any discounts. Your margin will be determined by several factors including but not limited to your credit qualifications, combined loan-to-value, and loan amount. Corresponding variable APRs range from 4.24% to 10.24% for Primary residences. The maximum APR for a home equity line of credit is 15%.

2 - APR = Annual Percentage Rate. The APR for a Coastal Federal Credit Union Home Equity Loan is fixed and is based on Coastal Federal Credit Union's Qualified Loan Program and include the Relationship Pricing discount. The minimum APR for a Home Equity loan is 4.95% with relationship pricing. The maximum APR for a Home Equity loan is with no discounts is 9.95%. Your rate may vary and is determined by your credit qualifications, amount financed, collateral, loan terms and combined loan-to-value. Please stop by your local branch or call our 24-hour call center at 800-868-4262 for more information. A payment example of a Home Equity Loan: As of June 1, 2019, an amount financed of $50,000 at a term of 180 months at 80% combined loan-to-value with an APR of 6.15% would result in 180 equal monthly payments of $425.99.

1, 2 - All loans are subject to approval. Rates are subject to change daily. Lending area located in North Carolina, Virginia, and South Carolina. Coastal membership must be established prior to scheduled closing. No refinances of purchase money seconds within 12 months of the closing date. Property insurance is required. Flood Insurance may be required. The minimum loan amount for a Home Equity Line of Credit or Home Equity Loan is $5,000. All lending services are subject to credit approval. Contact a Coastal representative for specific rates and terms. Certain restrictions may apply. To qualify for Relationship Pricing the borrower must have a Coastal first mortgage or close this loan simultaneously with a new Coastal first mortgage. If your loan requires a full appraisal, title insurance, or attorney fees they must be paid at the borrower's expense. To learn about what closing costs may apply to you, please stop by your local branch or call our 24-hour call center at 800-868-4262. 

Home Equity Early Disclosure (pdf)

Interest Only Home Equity Early Disclosure (pdf)

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