A Home Equity Loan can be placed on a property where there is no existing mortgage or where the present mortgage will be paid off by the new mortgage from AFCU.

A closed end loan can be placed on a property where a first Trust (Mortgage) does or does not exist. The value of property must be adequate to support a combined First and Second Trust. The total amount of the liens may not exceed more than 100% of the current market value, as determined by a recent appraisal or tax assessment.

APPRAISED VALUE X 100%
EXISTING LIENS = MAX AFCU LOAN

A Home Equity Line of Credit is an open end line of credit that can be placed on a property where a First Trust (Mortgage) does or does not exist. The value of property must be adequate to support a combined First and Second Trust. The total amount of the liens may not exceed more than 100% of the current market value, as determined by a recent appraisal or tax assessment.

APPRAISED VALUE X 100%
EXISTING LIENS = MAX AFCU LOAN

The member may be required to pay the closing costs for attorney's fees, appraisal, state and county taxes, and other fees directly related to the processing and settlement of the loan request.

All properties eligible for AFCU loan programs must meet the following requirements:

1. Must be the primary residence of the member
2. The subject property must NOT fall into the following subcategories:
    Co-op's Time Shares, Condominium, Investment Property and/or Land Purchases.
3. Must be located within the following jurisdiction:

*District of Columbia

Note: Additional counties may be considered within 100 mile radius of the Washington DC metropolitan area.

Agriculture Federal Credit Union offers a variety of fixed and variable rate mortgage programs. Member should contact the Credit Union for a current quote of Home Equity Loan rate and programs. Loan applications will be accepted at the prevailing rate of interest the day the completed application is received by AFCU.

Please furnish copies of the following documentation along with your completed application:

1. Current Copy of Earning Statement or Paystub (if applicable).
2. Two years tax returns if self-employed, retired or using non W-2 income to qualify (if applicable).
3. Current Statement from existing 1st and/or 2nd Trust (Mortgage).
4. Tax Assessment
5. Copy of the Deed or Deed of Trust.
6. Current Hazard Insurance policy
7. There is a $300 refundable application fee. Fee will be refunded if loan is closed. Certain restrictions may apply.

To apply for the loan you want today, simply phone toll-free 888-451-LOAN, stop by any branch location, or use our Online Home Equity Loan Application and our Online Loan Calculator.