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Home Equity Loans

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, currently as low as 5.50%APR*
  • 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, currently 5.25% 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.