Home Loans
County Educators offers Home Equity Lines of Credit (HELOCs) and Second Mortgage Loans to suit your borrowing needs.
HELOCs allow you to access funds up to your approved line of credit for five years and are billed monthly like a credit card. After the five years are up, your line is closed, and you repay your remaining balance over ten years. The loan is an adjustable-rate loan based on your credit history and loan to value. Our lowest rate is the Wall Street Journal Prime rate minus 1 percentage point. We have options for qualified borrowers of up to 100% of the loan value when combined with your first mortgage balance.
Our Second Mortgage is a one-time loan with a fixed repayment term of up to 15 years. It is also an adjustable-rate loan and like our HELOC, the rate is based on your credit history and loan to value and is tied to the Wall Street Journal Prime Rate.