(PRWEB) October 15, 2013
If a home is in need of a major repair or a person needs to finance a lengthy home project, they should take advantage of Freedom Credit Union’s home equity loan. This October, Freedom Credit Union, greater Philadelphia’s low financing credit union, is announcing they will now be offering their Members a home equity loan to properly finance that big project. With a home equity loan in Bucks County, homeowners put the real property value of their home on the line with the possibility to deduct the interest with income taxes. Utilizing the Freedom Credit Union home equity loan program, homeowners can receive a loan as much as 80 percent of the property’s value.
A home equity loan is much like taking out a second home mortgage, with monthly payments that can last anywhere from a couple of months to 180 months. The amount of the loan and interest rate depends on the credit history of the interested party. There are two types of loans available from Freedom Credit Union. There is the straightforward regular home equity loan—a lump sum of a certain amount—or there is a home equity line of credit. A line of credit simply means the person can choose when to receive the loan and the value of the loan. It is available for any refinancing project or to cover children’s education on a yearly basis.
Freedom Credit Union offers exceptional service and sits down with Members for a one-on-one discussion to go over any loan options one may have. If interested in applying for a home equity loan or line of credit or to discuss what type of loan is right for a specific situation, please call 215-612-5900 or visit their website today.
About Freedom Credit Union:
Freedom Credit Union, chartered in 1934, is a community-based, full-service, not-for-profit financial institution that offers a banking alternative to consumers. Anyone who lives, works, worships, performs volunteer service, or attends school in Bucks, Chester, Delaware, Montgomery, or Philadelphia Counties is eligible to use its services. Freedom Credit Union has over $600 million in assets and more than 60,000 Members, operating branch offices in Abington, Lansdale, Philadelphia and Warminster, Pennsylvania. As a respected Philadelphia based financial institution, they proudly offer a wide variety of financial programs to meet Member needs.
For more information, please visit FreedomCU.org or call 215-612-5900 today.