LEVERAGE YOUR EQUITY WITH CONFIDENCE
Need funds for a major home renovation, college tuition, debt consolidation, or other important expenses? A Second Mortgage allows you to borrow against the equity you've built in your home, giving you access to cash when you need it most. Use the value of your home to help finance life’s big goals while enjoying competitive rates and predictable payments.
SECOND MORTGAGE BENEFITS
COMPETITIVE RATES
Come home to low-cost financing. Our hard-to-beat Second Mortgage rates make borrowing against your home’s equity smart and affordable.
FLEXIBLE LOAN OPTIONS
Take out as much as you need based on your equity. We’ll work with you to structure loan terms based on your financing needs and budget.
MAXIMIZE YOUR EQUITY
A Second Mortgage lets you borrow against your home’s available equity while keeping your original mortgage in place.
SECOND MORTGAGE DETAILS
You work hard to pay your mortgage. Now let your home’s value work for you. A Second Mortgage (also known as a home equity loan) lets you borrow against the portion of your home that you own while keeping your existing mortgage in place.
A Second Mortgage from Dakotaland FCU is a smart way to use the equity in your home to access funds for home renovations, college tuition, debt consolidation, or other major expenses.
Here’s how it works:
- Borrow up to 90% of your home's value, depending on qualifications
- Receive a lump sum payout and repay the loan with predictable monthly payments
- Because the loan is secured by your home, rates are often lower than many other borrowing options
- Approval, along with the rate and term offered, is based on credit history, income, available equity, and a property evaluation
- Closing costs and other fees may apply
Use the value you’ve built in your home to help finance what’s next. Click below to apply for a Dakotaland FCU Second Mortgage today.
.jpeg?width=2000&height=1334&name=AdobeStock_297984149%20(2).jpeg "AdobeStock_297984149 (2)")
CALCULATE YOUR MONTHLY PAYMENT
Use this calculator to determine your monthly payment.
SECOND MORTGAGE LOAN RESOURCES
REAL ESTATE SERVICING
At Dakotaland FCU, we strive to build long-term relationships, and that includes our home loans. We work with our loan-servicing partner, Servion Mortgage, to support you as you pay off your loan.
DEBT MANAGEMENT
Need help managing an existing loan or high-interest debt? Now you can take control of your finances with a free review and confidential guidance from our certified financial counselors.
MAKE A PAYMENT
Now it’s easier than ever to make your monthly loan payment with our online and mobile banking services. Pay instantly from wherever you are or automate your payment for maximum peace of mind.
FREQUENTLY ASKED QUESTIONS
A Second Mortgage is a loan that lets you borrow against the equity you hold in your home. Unlike a cash-out refinance, your original mortgage stays in place.
A home equity line of credit (HELOC) works more like a revolving credit account. You’re approved for a credit limit based on your home’s equity, and you can borrow from it as needed. You only pay interest on the amount you use, and the rate is usually variable, meaning you may pay higher interest rates over time.
EXPLORE OTHER DAKOTALAND HOME LOANS
HOME LOANS
Dakotaland offers a range of innovative home financing solutions designed to help you buy, build, or tap your equity to reach your goals.
FIRST-TIME HOME-BUYER
Buying your first home is a big step. Dakotaland is here to help with low-cost loans, advice, and access to federal, state, and local assistance programs.
HELOCs
Turn the equity you hold in your home into a line of credit you can tap for cash to improve your home, pay off debt, or manage unexpected or ongoing costs.
