Loans

Home Equity

If you already own your home, you can make your equity work for you with a Home Equity Loan. Pay for education expenses, consolidate your bills, buy a new car or make improvements to your home - all by using your largest investment - your house!

Closed End Home Equity Loan* (Fixed Rate)

We lend up to 90% of the appraised market value of your home, minus what you owe on your First Mortgage. The minimum amount of a Home Equity Loan is $10,000. This loan provides you the full amount of funds in a lump sum disbursement. The rate remains the same throughout the duration of the loan. Rates are determined based on the term you choose, the equity you have available and your creditworthiness.

Terms available:

Home Equity Line of Credit - HELOC - Interest Only (Variable Rate)

Our Interest Only Home Equity Line of Credit gives you the flexibility to advance funds as you need them for up to 10 years. This is called the draw period. After the draw period ends, the repayment period will begin.

At the beginning of the repayment period, we will recalculate your monthly payment obligation to repay the outstanding balance at the current annual percentage rate within a payoff period of 240 monthly payments.

  • At any Clearview branch
  • Online Banking
  • Loan Draft Checks
  • TellerPhone
  • Overdraft Protection

Home Equity Line of Credit - HELOC (Variable Rate)

Our Home Equity Line of Credit allows you the convenience of advancing funds from your Line of Credit for up to 10 years. This is called the draw period. After the draw period ends, the repayment period will begin. During the draw period, each month your payment will be set to repay the outstanding balance at the current annual percentage rate, within a payoff period of 240 monthly payments. At the beginning of the repayment period, we will recalculate your monthly payment obligation to repay the outstanding balance at the current annual percentage rate, within a payoff period of 240 monthly payments.

Your payments and interest will be calculated only on the amount you use. The minimum loan amount is $10,000, with minimum withdrawals of $100. You have several ways to access this Line of Credit:

  • At any Clearview branch
  • Online Banking
  • Loan Draft Checks
  • TellerPhone
  • Overdraft Protection

Land Purchase Loan

We also offer Land Loans to purchase residential land or to secure a loan. You may borrow $10,000-$100,000 for up to 12 years with a 20% down payment. Closing costs vary from state-to-state. Excludes land zoned agricultural.

Borrower Security Program

Even if the unexpected happens, you can rest easy with our Borrower Security Program, a voluntary payment protection program which includes loss of life, disability and involuntary unemployment coverage. This protection program is available on our Home Equity Loans, at a minimal cost to you.

Closing Costs**

Save money when you close your mortgage at Clearview. We offer up to $500 in reimbursement on our fixed and variable rate Home Equity Loans and Lines of Credit.

* Home Equity Loans are available in all states except Alaska, Hawaii and Texas.

** Closing cost amount will be rebated after you:

  • Finance a minimum of $10,000 in a new Clearview Home Equity Loan or Clearview Home Equity Line of Credit or,
  • Borrow a minimum of an additional $10,000 on an existing Clearview Home Equity Loan or Clearview Line of Credit

If your Home Equity Loan or Home Equity Line of Credit is paid off within one year of origination, the rebate must be reimbursed to Clearview. Subject to change without notice.

Apply for a Home Equity Loan

Home Equity Loans and Home Equity Lines of Credit Application

Please click here to complete the application. When you complete the application you can mail or fax to the following:

Clearview Federal Credit Union
Attn: Real Estate Department
8805 University Boulevard
Moon Township, PA 15108

Fax Number: (412) 269-7829

Please call our LoanLine at 1-877-4LOAN40 (1-877-456-2640) with any questions.