Using the Equity in Your Home

Home Equity Plus

DCCU’s new Home Equity Plus is the smart way to use the equity in your home to pay for things you need like home improvement, education costs, debt consolidation, preparing for unexpected expenses, and more! It starts as a line of credit and allows you to conveniently convert up to 3 fixed loan segments for a 5 or 10-year term. The available limit on the line of credit returns to the original line of credit limit as monthly principal payments are applied. Home Equity Plus offers the flexibility you need because it’s a line of credit and a loan all in one!

Home Equity Plus offers:

• No closing costs¹
• Great low rates
• No annual fee
• A streamlined application process
• Easy access to funds with Online Banking and Mobile App
• Conveniently convert from a line of credit up to 3 fixed loans at any time²

An example of how Home Equity Plus works:

1. You apply and are approved for $35,000 Home Equity Line of Credit.
2. You decide to remodel your kitchen at an estimated cost of $15,000.
3. Pay for the renovations from the line of credit until the renovation is complete and the actual cost is known.
4. Once the project is complete, with Home Equity Plus you can use Online Banking or the Mobile App to convert the $15,000 to a 5 or 10 year fixed loan with scheduled monthly principal and interest payments.
5. You now have a $15,000 locked into a fixed rate, and the remaining $20,000 balance in your line of credit is available for future needs.
6. Make one monthly payment for both the fixed loan segment and any minimum payment due for the line of credit.
7. As monthly principal payments are made, the available limit on the line of credit returns to the original limit.

Interested in Home Equity Plus? Contact us today! We'll be happy to answer any questions you may have and walk you through the application process.

• Call 540-946-3200
• Visit one of our convenient locations