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Home Equity Loans (HELOC)

Open the Affordable Financing

A Home Equity Line of Credit provides you, the homeowner, with immediate access to the equity in your home.
A HELOC from Space Age gives you the ability to draw on your home’s equity whenever you want during a five year period of time.
  • You do not have to use your entire Home Equity Line of Credit at once.
  • The term on a Home Equity Line of Credit is 15 years, with a 5 year draw and a 10 year payback.
  • The interest on a Home Equity Line of Credit from Space Age is based on the Prime Rate, which is equal to the Prime Rate base on the Wall Street Journal*. SEE OUR RATES
  • Your Home Equity Line of Credit could be 100% tax deductible.**

*APR=Annual Percentage Rate. WAC=With Approved Credit. Interest on a Home Equity Line of Credit is calculated at a variable periodic rate based on the Wall Street Journal Prime Rate as of the last day of the prior month, and applied to the daily principle balance. The periodic rate may change on the first day of the month following a change in the Wall Street Journal Prime Rate. Contact the credit union for further details.

**Consult your tax-advisor.

Fund Your Remodel or Other Large Purchase with a Second Mortgage
A Second Mortgage from Space Age gets you a fixed rate loan secured by your home.
  • Take advantage of rates that are still low.
  • To see current rates CLICK HERE.
  • The interest paid on a Second Mortgage may be tax deductible.*

*Consult your tax-advisor.

Application Process
When applying, use the following list to ensure a smooth application process. You will need:
  • Application
  • Proof of Income
  • Current Balance on First Mortgage
  • Copy of Homeowners Insurance**
  • Tax Assessment / Appraisal***

Contact a Space Age Representative at 303-369-7666 for all Regulation Z required disclosures.

**Insurance coverage will need to be enough to cover both first and second mortgage balances and Space Age Federal Credit Union must be listed as lien holder.

***One of the two – depending on loan amount.