Why borrow against your home? The interest paid on equity loans may be tax-deductible, so borrow for buying a car, making home improvements or repairs, putting in a pool, financing an education, or consolidating bills.

 

How Much Can You Borrow?

		Example
appraised market value	A	$100,000
loan-to-value maximum (80%)	B	x 0.80
maximum loan amount	A x B = C	= $80,000
outstanding mortgage balance	D	- $70,000
equity you can borrow	C - D	= $10,000

 

 

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Home Equity Loans

 Our equity loans offer

• loan amounts from $5,000 to $250,000 (higher loan amounts may be available upon request)
• no annual fees
• no prepayment penalties
• competitive rates
• a variety of terms

 

Home Equity Loans

• borrow up to 80% of the market value of your primary residence
• fixed rates for 5, 10, or 15 years
• get the security of a fixed term and predictable monthly payment amount
• put your loan payments on automatic pilot with Payroll Deduction or recurring electronic transfers, or make payments any time using Online Banking onor by calling Express Teller at 813.935.1738, or by sailing in to any Bay Gulf location 

 

 

Bay Gulf Credit Union grants loans in accordance with all applicable federal and state regulations, including the Equal Credit Opportunity Act and Fair Credit Reporting Act, and Board-approved loan policies. All rates, terms, and conditions are subject to change at any time.

 

Loans granted to members for any purpose, including those for the purpose of purchasing, improving, or repairing a dwelling, are considered without regard to race, religion, color, sex, or national origin.

 

Bay Gulf equity loans are available for properties located in the State of Florida only.