Homeowner Advantage Loan
Get settled, no equity needed.
Homeowner Advantage Loan 101
If you own your home but don’t have a ton of equity just yet, you can still borrow the money you need with a Homeowner Advantage loan — no collateral required. It's a Personal Loan designed to help you build the home of your dreams.
Nest or fly the coop.
As long as you have a good, solid credit history and a home in your name, you can make the most of our Homeowner Advantage Loan. Fund those big home repairs and upgrades, or maybe a scenic escape is what you need. Whether it’s for a vacation or renovation, how you spend the money is up to you. Borrow as much as $40,000 or as little as $5,000 and set your payment term for any length of time, up to 10 years.
Homeowners Advantage Loan Rates
| Type | Term | APR* |
|---|---|---|
Type:
Homeowners Advantage Loan
| Term:
up to 120 months
| APR*:
12.49 to 17.99%
|
*APR = Annual Percentage Rate. The APR you receive for advances will be within the range disclosed above and is based on the member's credit history. Not all members will qualify for the best or lowest rate and the credit union will evaluate your credit history at the time of every advance. No Equity Required. All loans are subject to approval. Rates, terms, and conditions are subject to change.
Homeowners Advantage Loan Payment Example: For a $20,000 loan for a term of 5 years with a 16.99% APR, the monthly payment will be $497.32.
Homeowner Advantage Loan Benefits
Choosing to make automatic payments could save you some cash, and so could the equity on your home.
Applying for a loan shouldn’t cost you anything. So with us, it doesn’t (high five).
On the couch or on the go, keep your money close with our Mobile App and Online Banking.
Credit Unions around the world work together to make sure our members can use branches and ATMs everywhere — surcharge-free. Nice, right? Download our CO-OP app and plot your next getaway.
Our skilled experts are easy to reach and happy to help. For members and non-members alike, meetings and consultations are always free, so make the most of your money, on us.
With us, your money is always protected and insured by the National Credit Union Administration. You’re covered on all deposits up to $250,000, so save away.
Or even a lot. Either way, we’re here. Call, text, or chat with our experts anytime you need a friend who knows all things Fortera.
Extra payments on loans are accepted anytime.
From loan origination fees. This loan has none.
Get Started
Make the most of where you’re living. Apply for your Homeowner Advantage loan today. With no application fee, what are you waiting for?
Helpful Resources
More tools and services to make your day a little easier.
Add Debt Protection to Your Loan
If your life takes an unexpected turn, your family’s finances can be strained. But with Member's Choice Borrower Security with Life Plus, your loan payments or balance may be canceled, up to the contract maximums, in case of involuntary unemployment, disability, or death. It’s just one more way you can look out for the people you love.
Take an important step toward financial security. Email us at loans@forteracu.com and ask about Member's Choice Borrower Security with Life Plus today.
Your purchase of Member's Choice Borrower Security with Life Plus is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions and exclusions may apply. Please contact your loan representative or refer to the Member Agreement for a full explanation of the terms of Member's Choice Borrower Security with Life Plus. You may cancel the protection at any time. If you cancel protection within 30 days, you will receive a full refund of any fee paid.
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Submit a Debt Protection Claim
Need to submit a claim? No problem, we've got you covered. You can submit a claim at myclaim.cunamutual.com. If you have any questions, please text us at 931.431.6800 or email us at info@forteracu.com and we will be happy to help.
Learn About Additional Insurance Coverage With TruStage
As a Fortera Credit Union member, you have access to additional insurance protection through our partner, TruStage. They provide Life, Auto, Home, and Accidental Death Coverage. You can get up to $1,000 of Accidental Death coverage for free by visiting trustage.com and claiming your offer.
If you have questions for our team about TruStage insurance, please text us at 931.431.6800 or email us at info@forteracu.com.
Document Checklist for Personal Loans
To verify your identity, we always ask that you come prepared with a government-issued ID. It is important that it is not expired. Examples of acceptable IDs include a State Driver's License or a U.S or Foreign Passport. If we have trouble validating your ID, we may ask for a secondary ID. If you have a question about whether or not an ID can be used, just text us at 931.431.6800.
In addition to identification, you will also need to bring:
- Income verification
Have questions? Just email us.
Need a hand?
Tag us in. Whether you are on your couch or halfway around the world, use Fortera Video Chat to get quick answers from a friendly face.
What is a Homeowner Advantage Loan?
This is a loan designed for members who own their home, but don’t have a ton of equity just yet. It allows members with great borrowing history to access the money they need with no collateral required.
Can I make additional payments on a Homeowner Advantage Loan?
Yes! You can make additional payments on this loan.
How much money can I borrow using a Homeowner Advantage Loan?
With the Homeowner Advantage Loan, you can borrow as little as $5,000 and as much as $40,000.
Can I set up automatic transfers in Online Banking to pay for my Homeowner Advantage Loan?
Yep! You can make payments toward this loan from Online Banking and you can make payments from a different bank account using our Make A Payment feature.
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