Homeownership
Buying, owning and borrowing against a home — guides, podcasts and member stories.
New to homeownership?
Whether you are saving for a down payment, comparing your first mortgage or putting your equity to work, start with the guides below — then use the filters to narrow things down.
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Tap your equity. Keep your mortgage. With a Home Equity Line of Credit.
If you've been eyeing that kitchen remodel, bathroom refresh, or backyard project for a while now, you're not alone. Americans spent over $500 billion on home renovation in 2025.* The question isn't whether to do it. It's how to pay for it.
How your credit score keeps score
Are we alone in the universe? Is Bigfoot real? How is your credit score determined? These are the great mysteries of our time. And while we can’t help you with the first two, we can shed some light on your credit score. For better or worse, your score plays an important role in the mortgage process. The national average is 704, and the higher your score, the lower your interest rate. While a lower score can keep you from getting approved all together.
The Top 3 Ways to Use a HELOC in 2025
While many people immediately think of credit cards when it comes to borrowing money on an as-needed basis, a home equity line of credit (HELOC) is another, often-overlooked tool you can use to draw funds for countless purposes — at a lower interest rate than most credit cards.
More ways to make the most out of HELOC in 2022.
A home equity line of credit, or HELOC, has some unique advantages over loans. With ten years of interest-only revolving credit followed by a 15-year repayment period, it can be a great solution for some situations you may not have considered.
Now that you can leave home …you won’t want to.
With a home equity line of credit, you can turn your house into the home you’ve spent the last few months (or years) imagining.
Right now we could all use a little support - home equity line of credit
At LMCU, not even social distancing will stop us from having your back. Our home equity line of credit, starts at just 3.00% APR.* Borrow and spend money just like a credit card. Use the extra cash for any immediate needs, or pay off high-interest debt to strengthen your financial stability for the days ahead.
Special fall rate Home Equity loans
For a limited time, we’ve dropped our fixed home equity loan rate to 4.49% APR!* Use your home’s value to fund your home improvements to increase its value and enjoyment. Or even pay off student loan debt or high-interest credit cards.
Consolidate debt, pay for your student’s college or make home improvements with our Home Equity Loans
With a LMCU Home Equity loan,* you can trade high interest rates, such as on credit cards, for something that’s easier on your budget. We offer two types of loans depending on how you want to put the equity in your home to work.
Consolidate Debt or Renovate Your Home
Which option is right for you—Line of Credit or Fixed Loan? Home Equity Line of Credit (HELOC) Just like a credit card, you can buy the things you need now and pay off your balance over time— borrowing against the value of your home. As you repay your balance, the funds become available again.
