Being a homeowner unlocks new possibilities!
Achieva offers quick and convenient funding to help members achieve their financial goals by providing a source of funds for home improvements, debt consolidation, unexpected expenses and more. Our special offer of up to $1,000 towards closing costs* makes it even easier and more affordable to access the funds when you need them.
Use your home’s equity for what you need, when you need it
Home improvements and renovations
Roll up the costs of multiple renovations into one loan.
Early education or child care expenses
Cover your child care costs or any back-to-school expenses for yourself or your kids.
Debt consolidation
Pay off those high-interest debts and wrap up your bills into one easy, low-interest payment.
Rainy day / emergency fund
Life happens. When you’re faced with unexpected bills or ongoing illness, your home’s equity can give you extra support.
Home Equity Loan vs. HELOC: What’s the Difference?
Home Equity Lines of Credit (HELOCs) and Home Equity Loans are both based on a borrower’s equity in their home.
- Home Equity Lines of Credit (HELOCs) are revolving credit lines with adjustable interest rates.
- Home Equity Loans come with fixed payments and a fixed interest rate for the entire loan term.
Home Equity Line of Credit (HELOC)1
HELOC benefits include:
- Up to 90% loan-to-value for qualified borrowers
- Competitive rates
- No annual or transaction fees
- No application fee
- Adjustable rate
To apply for a home equity line of credit
Home Equity Loan (HE-Loan)2
Move multiple debts into one, and save money on interest! Known typically as a second mortgage, a home equity loan (HE-Loan) can simplify the way you pay your bills.HE-LOAN benefits include:
- Low, fixed rates
- Keeps your first mortgage in place
- Possible tax deductions
- Up to 90% loan-to-value for qualified borrowers2
- Competitive rates
- No annual or transaction fees
- No application fee
There are two easy ways to apply for HE loan
*Achieva Credit Union will pay up to $1,000 in closing costs (excluding full appraisal) on our fixed or variable-rate home equity product loans when you apply between February 1, 2025, and December 31, 2025. If the loan is paid in full or the line of credit is closed within 24 months of the first payment due date, then closing costs paid by Achieva Credit Union will be added to the loan’s payoff. You must be a member of Achieva Credit Union or meet membership eligibility requirements. Other restrictions apply. This offer cannot be combined with any other offers and may be canceled at any time.
1APR=Annual Percentage Rate. The variable APR for a Home Equity Line of Credit is the lowest available and is the introductory APR for the first 6 months. Your qualified APR for the initial 6 months and beyond is determined by various factors and will be disclosed to you at final approval. At this time the fixed margin may vary from -.25 to +4.375% over the variable index (Prime Rate as published in the Wall Street Journal on the 15th day of the prior month). After the initial 6 months, your qualified APR may adjust up or down based on the movement of the Index but never more frequently than every 6 months and is limited to a maximum of 1% for each occurrence. The APR will never be lower than 5.00% and can never increase more than 6% over your qualified APR (maximum 18%). Interest rate adjustments may result in an increase in your payment amount and loan term. Property insurance is required. Minimum loan amount is $10,000.
2APR=Annual Percentage Rate. As of 1/21/2025, rates on a 15-year, second position home equity loan of $50,000 are as low as 7.486% APR with a loan-to-value (LTV) ratio of 70% or less. Rates vary, are subject to change and are based on an evaluation of various factors which will be disclosed to you at final approval. Average closing costs for loan amounts of up to $50,000, range from $1360 to $3630. On a 15-year loan of $50,000 at 7.486% APR, the estimated monthly payment would be $456.43. Payment amount does not include taxes and insurance premiums; the actual payment obligation will be greater. Contact your tax advisor for tax implications. Property insurance is required. Minimum loan amount is $10,000. Other restrictions may apply. NMLS #402501.