Access Your Equity
Maximize the value you've built in your home with WyHy's equity solutions. Access cash from your home's equity for any purpose with our flexible options
Unlock the potential of your home's equity with our tailored solutions designed to suit your needs. Whether you're looking to refinance with our up to 20-year Home Loan option, access funds on demand through our Hybrid HELOC, or secure a lump sum with our Fixed-Term Second Mortgage, we've got you covered.
With competitive rates, convenient terms, and the ability to access up to 100% of your home's value, WyHy empowers you to leverage your home's equity for whatever life throws your way. Discover the possibilities and take control of your financial future today.
Maximize your financial potential with our range of equity solutions:
20 Year Home Loan
Replace your current mortgage to access equity while securing a fixed interest rate and a single monthly payment. Ideal for members with home equity seeking to consolidate their existing mortgage into one convenient payment.
- 15 - 20 year term
- No private mortgage insurance
- Loan to value up to 90% with an appraisal
- Loan to value up to 80% with potential appraisal waiver
- Competitive interest rates
- Option to finance in closing cost
- Servicing is maintained at WyHy with online loan payments made using WyHy Digital
Hybrid HELOC: Lock in Stability, Keep Your Flexibility
With WyHy's Hybrid HELOC, you can enjoy the power of a revolving line of credit while locking in up to three fixed rate segments for added stability. Perfect for home improvements, debt consolidation, or big projects, you get flexibility with the security of predictable, fixed rate payments on the portions you choose.
Key Features of WyHy's Hybrid HELOC:
- Locked in Fixed Rate on Three Segments: Secure predictable payments on up to three segments while keeping access to the revolving credit line.
- Up to 100% Loan-to-Value (LTV)
- Only Pay on What You Use: Interest applies only to the amount you've drawn.
- Keep Your Existing First Mortgage Rate: Maintain your original rate while accessing equity.
- Draw Period: Access funds as needed for up to 20 years.
- Repayment: 20-year term, with the last 10 years focused on repayment.
- Flexible Payment Options: Pay online, by phone, or in branch.
- No Closing Fees and No Early Payoff Penalties
For example, tackle a remodel with confidence- use the revolving line for ongoing expenses while locking in fixed-rate segments on major costs.
Achieve financial stability and flexibility with WyHy's Hybrid HELOC. Contact us today to get started!
Fixed Term Second Mortgage
Enjoy the stability of fixed rates and consistent monthly payments with a second mortgage from WyHy. Tap into the equity you've built in your home for various expenses like home improvements, weddings, or education, all at competitive loan rates.
If you own property in the state of Wyoming, enjoy all these Home Equity Loans benefits:
- Loan to Value: Up to 90% with potential appraisal waiver
- Lump Sum Disbursement: Get your cash in one lump sum at loan closing.
- Fixed Payments: Enjoy the same payments throughout the loan term.
- Flexible Repayment Terms: Choose from repayment terms ranging from 5 to 20 years, tailored to your credit score and loan amount.
- Competitive Interest Rates: Rates based on your credit score, loan-to-value ratio, and chosen term.
- Closing Fees: Varied fees based on loan amount and loan-to-value, covering appraisal, document preparation, and more.
- No Early Payoff Penalty: Enjoy the flexibility to pay off your loan early without penalties.
- Late Fees: The greater of 5% of the payment or $25 after 10 days.
- Interest: Accrual based on a monthly 360-day schedule.
- Convenient Payment Options: Make monthly payments in person, by mail, through auto or payroll deduction, or via Online Banking or telephone banking.
- Online Statements: Opt for eStatements via Online Banking for prompt access to your statements.
Ready to Get Started?
You've invested time and effort into building equity in your home, and now it's time to leverage it for your financial goals. Tap into your home's equity and access cash for any purpose you desire!
Must own property in the State of Wyoming to apply and be eligible for a WyHy HELOC.
*Rates are subject to change. Rates and maximum loan terms are dependent on credit qualifications and loan-to-value (LTV) percentage. Rates listed are the lowest available. The Index will be the Wall Street Journal Prime Rate. The Margin will be based on the borrower’s credit score and the LTV. Home Equity or real estate secured loans are limited to properties located in the State of Wyoming. Your actual rate is based on previous credit performance. Lowest rate shown is for well-qualified borrowers and includes automatic payment discount. The Floor Rate (or minimum rate) will be 9.000% and the maximum rate will be 18%. Changes to the interest rate will be effective monthly on the 1st day of the month. The Loan-to-Value (LTV) is based on market region. This HELOC program will have a Draw Period of 10 years with the following Repayment Terms: Loan is amortized for 240 months/20 years with the final 10 years strictly repayment of the loan balance. a Repayment Period of 10 years for an Amortization of 20 years. The Draw Period is the time in which the borrower can take advances on their Line of Credit. During the Repayment Period the borrower cannot take advances on their Line of Credit. The minimum monthly payment will be established at the time of each advance (other than credit insurance premiums) to the amount necessary to fully amortize the account balance no later than the agreement maturity date. A late fee will be assessed if the payment if more than 10 days late. The late fee will be the greater of 5% of the payment or $25.
¹Hybrid Home Equity Line of Credit (HELOC) allows a member to create up to three (3) fixed loan segments with a minimum of at least $5,000.00 for each loan segment from the balance of their pre-existing Line of Credit. Rate for fixed segments will be based on the last “soft” credit score. The fee structure remains the same as the regular HELOC initial loan application with a $30.00 fee for each fixed loan segment creation. Contact the Credit Union for full details.