Turn Your Home’s Equity Into Cash
Using a home equity loan can allow you to use the old borrowing power you have from equity in your home.
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Home Equity
as low as
7.10
%
APR
The APR (Annual Percentage Rate) is effective as of 03/03/2025. Rates range from 7.10% to 12.50% APR with terms up to 20 years. The property must be owner-occupied; mobile and manufactured homes are not eligible. Upon submitting an application, you may qualify for a higher or lower loan amount and/or APR. The APR is determined by various factors within Arkansas Federal’s custom scoring model, including, but not limited to, credit score, credit history, income, and debt-to-income. You must have a minimum household annual income of $25,000, be over 18 years of age, and have a valid U.S. Social Security Number to be considered for an Arkansas Federal loan. Loan approval is subject to confirmation that your income, debt-to-income ratio, credit history, and application information meet all requirements. Home Equity Loans are available for up to 95% of your home’s value minus your mortgage balance. If a member closes their loan within the first 24 months, all associated processing costs (such as appraisal, flood certification, title search, etc.) will be added to the loan payoff amount. However, if the loan is closed after 24 months, these fees will not apply. Offer and rate advertised are subject to change without notice. Membership with Arkansas Federal is required.
%
APR
Your Home's Value = Cash
Turn your home’s equity into the cash you need—without changing your current mortgage. You can use your home equity loan to: consolidate debt, tackle home renovations, plan your dream wedding, or even take a much-needed vacation—no matter your dream, a home equity loan can fund it.
Use the funds for anything:
- Home Improvements
- Debt Consolidation
- Vacation
- A Dream Wedding
- Emergency Fund
- Or anything else
Why a Home Equity Loan?
No Change to Your Current Mortgage
Keep your current mortgage rate and term while accessing equity (a separate loan).
Get More From Your Home
Borrow up to 95% of your home’s value, compared to just 85% with many other lenders.Borrow up to 95% of your home’s value, minus your mortgage balance.
Save More With No Closing Costs
You won’t need to pay closing costs, which means a little extra cash back in your pocket.
More Great Benefits
Use the money for anything.
Use your money for just about anything—home improvements, debt consolidation, vacation, a dream wedding, emergency funds, or anything else.
Larger borrowing potential.
Depending on the amount of equity in your home, you might be able to obtain larger sums not possible through other types of loans, such as personal loans.
Same, consistent monthly payment.
Since your rate remains fixed, your monthly payment will also remain the same throughout the life of the loan.
Get one lump sum.
Once approved, you’ll enjoy one lump sum to repay monthly.
Lower rates.
With a home equity loan, you can enjoy a lower rate than most credit cards or personal loans.
No surprises.
With clear terms, a transparent process, and no hidden fees,1 you’ll always know exactly what to expect.
Questions? We have answers!
What is home equity?
“Home equity” may sound complicated, but it’s actually simple. Home equity is the value of your home minus what you still owe on your mortgage. So, if your home is worth $200,000, and you owe $150,000 on your mortgage, you have $50,000 in equity. The real question is—what could you do with your home’s equity?
What’s a Home Equity Loan?
A Home Equity Loan allows you to get a lump sum amount upfront to repay monthly with fixed, predictable payments.
How much can I borrow?
With Arkansas Federal, you can borrow up to 95% of your home’s value.Borrow up to 95% of your home’s value, minus your mortgage balance. For example, if your home is valued at $200,000, you could potentially borrow up to $190,000—assuming your mortgage is paid off. If you owe on your home, just subtract your remaining balance from that amount. For instance, if you owe $150,000 on your mortgage, you could apply for a home equity loan of up to $40,000, totaling $190,000—95% of your home’s value.
What about fees?
There’s no application fee – that’s a savings of $500! We also don’t charge an origination fee. It’s all part of our goal to save you money!
What happens to my mortgage?
Absolutely nothing. Your mortgage remains untouched. A home equity loan is separate from your mortgage, so you’ll keep your current mortgage rate and term.
Are there other options?
Our fixed-rate home equity loan is a great option if you want the stability of a monthly payment that will not change over the life of your loan. But we also offer variable rate Home Equity Lines of Credit (HELOCs) with more of a revolving credit line, similar to a credit card. If you’re not sure which one is right for you, give us a call at 800.456.3000, and we’ll go over your options.
