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Is a Home Equity Loan Tax Deductible?

April 26, 2017Banks credit deductible ECU financial institutions home equity loan tax unions

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Is a Home Equity Loan Tax Deductible?

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Yes! In most cases interest paid on Home Equity Loans is still 100% tax deductible. (Consult your tax advisor for details) Home Equity Rates Click Here To Apply Online APR = Annual Percentage Rate. *Your rate will be based on the number of years your loan is financed, your individual credit history under our personal credit program, and other factors. Payment example: A $15,000 fixed rate home equity loan with an APR of 5.99% and a 60 month term would result in a monthly payment of $289.98. **Home equity lines of credit are a variable rate, based on an index using the Wall Street Journal Prime Rate and is determined by credit line. Prime Rate is currently 4.50% APR effective 10/10/08. The lowest 80% loan to value variable rate possible is 4.250% APR and the highest rate is 18.00% APR. The rate adjusts 3 times per year.