Home equity loans typically have fixed interest rates and are fully amortized, which means there are no “exotic” loan features such as interest only payments or negative amortization.
A home equity line of credit (HELOC) provides a line of credit and allows you to draw funds up to your maximum credit line as needed.
To estimate your home equity use our home equity loan calculator.
When considering home equity financing, it’s important to shop and compare your options.
We offer fixed rate and adjustable rate loans with terms to fit your needs. Before you start shopping for a new home, visit with one of Barksdale Federal's Home Lending Consultants (HLC) and get pre-qualified for your home loan.
You'll be able to shop for a new home in the price range that best fits your budget.
Conventional Loans are Fixed in 10, 15, 20, or 30-year terms with the interest rate remaining fixed for the life of the loan.Barksdale Federal Credit Union is your home loan headquarters.For qualified members, a Barksdale Federal home loan is fast, easy and convenient.A home equity loan is sometimes called a second mortgage.It works in the same way as your primary (also called your first) mortgage; it’s issued for a specific amount and repaid with fixed monthly payments.