L&N Home Equity Loan
Rates as Low as 6.500%*
Unlock the value of your home with L&N Federal Credit Union’s Home Equity solutions—designed to give you affordable access to funds for what matters most.
Use your home equity for home improvements, debt consolidation, vehicle purchases, education expenses, vacations, and more.
Adjustable Interest-Only HELOC
An Adjustable Interest‑Only Home Equity Line of Credit gives you flexible access to your home’s equity with lower initial payments. During the draw period, you pay interest only on the amount you use—helping manage cash flow while keeping funds available for ongoing needs.
- Payments: Interest only payments during the draw period. After the draw period, payments will increase and include both principal and interest.
- Timeline: 10‑year draw period followed by a 20‑year repayment period (30 years total)
- Rates: Competitive adjustable interest rates
- Access: Use funds via online banking, or branch deposit
- Value: Up to 90% loan‑to‑value if L&N holds the first mortgage
- Costs: Closing costs vary; ask for details.
Fixed Rate HELOC
A Fixed‑Rate HELOC offers predictable monthly payments and long‑term stability. With a fixed principal and interest payment, you’ll know exactly what to expect throughout repayment—making budgeting simple and straightforward.
- Payments: Fixed principal and interest
- Timeline: 5‑year draw period followed by a 15‑year repayment period (20 years total)
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Rates: Option to lock balances into a fixed rate
- Access: Use funds via online banking, or branch deposit
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Value: Up to 90% loan‑to‑value if L&N holds the first mortgage
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Costs: Closing costs vary; ask for details.
This option works well for borrowers who value stability and want a clear payoff schedule with no rate changes over time.
Active duty military, military veterans and first-responders will have underwriting and processing fees waived!***
For more information on our Home Equity Line of Credit programs, contact our Real Estate Department at (800) 292-2905 or (502) 368-5858. Or, contact us by filling out our Contact Us form.
*Variable Annual Percentage Rates (“APR”) for an Adjustable Interest-Only HELOC start at the advertised rate for applicants with a 720+ credit score, maximum 90% CLTV, and an existing first mortgage held by L&N Federal Credit Union. APR is based on the Wall Street Journal Prime Rate (“Prime”) plus a margin, and may increase after account opening, which may cause your payments to increase. Rates adjust when the Prime Rate changes. APR available for loans up to 90% loan-to-value (LTV) if L&N holds the first mortgage, or 80% LTV if L&N does not hold the first mortgage. Applicants not meeting these criteria may receive higher rates or may not qualify. During the draw period, interest-only payments are required; after the draw period, payments will increase and include both principal and interest. Offer subject to change or discontinuation at any time.
*** Includes Army, Navy, Air Force, Marines, Coast Guard, Firefighters, Police and EMS. Must show valid I.D. New loans only. Offer subject to change at any time without notice. NMLS#531738