Tapping into your home’s equity is a smart, affordable way to finance what matters most.
Choose a fixed-rate Home Equity Loan for a lump-sum payout or a flexible Home Equity Line of Credit (HELOC) that lets you borrow as you need.
Lower Interest Rates
Access the funds you need with some of Maine’s most competitive rates.
Flexible Use of Funds
Use your loan or line of credit for nearly any purpose—from renovations to education or debt consolidation.
We Pay Your Closing Costs*
We’re committed to keeping your borrowing costs as low as possible.
Let your existing home equity help pay for the next stage of your journey. Use it to fund home improvements, college tuition, a dream wedding, or a once-in-a-lifetime trip.
Features:
Invest in the things that matter to you. With great rates and predictable payments, it’s the sensible way to manage life’s major expenses.
Build the life you want with the convenience and affordability of a Home Equity Line of Credit. Get the on-hand credit you need to cover ongoing costs from a DIY project or business startup, or tap it for extra funds to deal with life’s surprises.
Features:
Stay flexible. A HELOC loan can help you handle irregular or unexpected costs better without breaking the bank.
*Loan must remain open for three years. Estimated closing costs $600. Membership eligibility is required, including $5 minimum share account balance. Additional disclosures will be sent to you upon application submission. Property insurance required. Flood insurance required where applicable. All loans are subject to credit approval.
★★★★★
“Love, love, love being a part of Oxford Federal Credit Union! I wouldn’t have my money anywhere else!! Thanks for all you do!”
- Debi V., Mexico, ME
A HELOC (Home Equity Line of Credit) is a revolving line of credit that lets you borrow against your home’s equity as needed, similar to a credit card. A Home Equity Loan provides a lump sum loan amount upfront with a fixed interest rate and fixed monthly payments. HELOCs usually have variable interest rates, so annual percentage rate (APR) payments can change over time. With a HELOC, you can borrow, repay, and borrow again during the draw period, but with a home equity loan, you receive the full amount at once.
Home Equity Loans are ideal for one-time major expenses, while HELOCs offer flexible access to funds for ongoing or unexpected costs.
Planning smaller updates or quick renovations? Our Home Improvement Loans offer easy access to credit, without using your home as collateral.
No matter whether you want to consolidate debt, cover unexpected expenses, or make a major purchase, our personal loans can help you get the funds you need quickly.
Tap into the cash you need to fund each stage of construction of your new home. Make interest-only payments while you build and roll the balance into your long-term mortgage.