Home Equity Lines-of-Credit

If you’re a homeowner looking to increase your tax deductions, you should consider applying for a Vantage Credit Union Home Equity Line-of-Credit. When you use your home equity line-of-credit to pay for large-ticket items such as a new vehicle, a new appliance, a vacation, or home improvements, it’s smart because your interest payments are usually tax deductible,* unlike a conventional loan. This enables you to purchase the things you need most and reduce your taxable income at the same time.

With our Home Equity Plan II, you can borrow up to 90% of your home’s value (minus your first mortgage balance). There are no closing costs (except home appraisals, when required), which provides substantial up-front savings.

Home Equity Line-of-Credit Document Checklist
A completed Vantage Credit Union Home Equity application requires:

• A copy of your First Deed of Trust
• Verification of your first mortgage balance
• A copy of your title insurance
• A copy of your current homeowners policy (including mandatory flood coverage if necessary)
• A copy of your Vantage-certified appraisal (if completed during previous 12 months)
• A copy of your current property tax assessment
• Your most recent paycheck stub if not on Direct Deposit/Net pay with us

How Much Can You Borrow?
The actual dollar amount you may qualify for depends on your individual financial situation. However, you can use the chart below as a guide to calculate the approximate amount of your available equity.

If you have any questions about our Home Equity Line-of-Credit, or to start the application process, apply online or call 314.298.0055 or 800.522.6009. Also, please read our disclosure for more details:

Home Equity Disclosure
When Your Home is On the Line Disclosure

_{* Consult your tax advisor for details about tax deductibility. Vantage Credit Union Home Equity Lines-of-Credit are valid on Missouri and Illinois property only. APR may vary. Maximum rate is 20.04%.}