Home Equity Fixed-Rate Loan

Use the equity in your home — the difference between the market value and any outstanding amount you owe — for a one-time expense. For DC Teachers members in Maryland, DC and Virginia with a mortgage in the 1st position, you can borrow up to $800, 000 of your home’s equity for terms up to 30 years. The loan is disbursed in one lump sum. There are no prepayment penalties if you pay the loan off early.

Equity Line of Credit

A line of credit gives you a replenishing cash reserve of up to 80% of your home’s equity up to $100,000. This is a great option for long-term projects or back-up funds as needed. Terms up to 20 years are available, but you can pay off your loan early without any prepayment penalties. Make an appointment to visit our Main Office to talk more about the differences between these two types of loans and to apply for the one that best suits you.

If you currently have your dream home and renovations are needed, have you considered taking advantage of our current low rates? DCTFCUs’ refinance rates are as low as 2.99% APR%*.

*APR = Annual Percentage Rate. Rates are based on credit worthiness. Not all applicants will qualify for the lowest advertised rate.