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Home Equity Loan for Debt Consolidation

Replace your high-interest debt with a low-rate home equity loan and save money

Consolidate your debt with a loan up to $150,000 and a rate as low as 2.99% APR*

Estimate your savings
  • Overview

    Why get a home equity loan?

    It’s easy to get into debt, but hard to get out—especially when you’re locked into a loan with a high interest rate (like credit card debt). If you’re in that situation, you might feel trapped.

    By using your home as collateral, you can get a large loan at a low rate. That’s how a home equity loan can help you get out of debt—and save money while you’re at it. 

    • Large amounts: $5,000 – $150,000
    • Flexible terms: 60 – 240 months
    • Great rates: as low as 2.99% APR*

     

    See rates

  • Rates

    Special 12-Month Rate: 2.99% APR*

    Right now, you can lock in a special promotional rate: 2.99% APR* for 12 months.

    After 12 months, rates as low as 5.50% APR*.

    Standard Rates

    Closed End Home Equity Loan

    TermRate*
    60 MonthsAs low as 5.50%APR*
    120 MonthsAs low as 5.50%APR*
    180 MonthsAs low as 5.75%APR*
    240 MonthsAs low as 6.00%APR*

    *APR=Annual Percentage Rate. Rates and term are subject to change without notice.

  • How it works

    How it works

    It takes about 2-4 weeks to get a home equity loan. Below is an outline of the process.

    1. You complete an application

    Tell us how much you want to borrow and we’ll ask for your personal info, check your credit score, verify your income, etc.

    2. We decide to appraise your home or deny the application

    Within three business days of receiving your application, we decide to either move to the next step and appraise your home or deny the application.

    3. We appraise your home

    Depending on your credit score and LTV, we’ll appraise your home in one of three ways. (See the Frequently Asked Questions to learn about LTV and appraisal methods.)

    4. We make a loan decision

    After reviewing your application and appraising your home, we’ll give you a loan decision.

    5. You get the loan

    If you’re approved for the loan and accept it, then you’ll use it to pay off your high-interest debt right away.

    6. You make payments using our easy online service

    After paying off your high-interest debt, you’ll make a monthly payment on your low-interest home equity loan until it’s paid off.

  • FAQs

    Frequently Asked Questions

    One benefit of being an Astera member is getting access to the lowest rates around. Take out a loan to fund that major expense. We process loans in-house, from application to closing — without all the stress.

    We offer various loans and services to match your desires

    Click here, if you’d like to apply for a loan today.

    For our Astera Equity products, the only out of pocket expense for equity is for an appraisal. As a service to our members Astera covers all other closing cost.

    Wouldn't it be nice to stop throwing your money away on rent and start building equity in your own home? Astera offers low-rate home mortgage loans, so you can start calling your own place "home" sooner than later.

    Our stellar loan officers will be there to guide you through every step.

    There are many great features to our Home Mortgage Loans

    • Build equity in your home in Michigan, instead of paying rent to a landlord
    • We offer free quick pre-qualifications for accurate budget shopping
    • Choose from a variety of mortgage loan financing options
    • Local processing ensures fast approvals and efficient processing
    • Personal attentive service from start to closing
    • Talk to an Astera expert lender today to get started

    Visit our Mortgage Web Center and apply now!

    We offer three convenient ways to apply to refinance your home equity loan.

    • Apply Online
    • Apply by Phone
      • Call us today at 800-323-0048 and a Member Service Representative will walk you through the steps to apply over the phone
    • Apply in Person
      • Stop by any of our branches and speak to a Member Service Representative to get help on your application

    Our stellar loan officers will be there to guide you through every step of the process.

    Visit our Mortgage Web Center and apply now!

Use a home equity loan to consolidate your debt and save money

A home equity loan can help you get out of debt and save money while you're at it.

Estimate your savings

*APR=Annual Percentage Rate. Rates and term are subject to change without notice. Rates and terms are contingent upon, but not limited to credit history, loan to value, lien position, amount requested, and other risk-based criteria. 2.99% introductory APR available for 12 months after the loan is funded. At the beginning of the thirteenth month, regular rate will go into effect. Minimum monthly payment may change as a result of rate changes. Contact Astera Credit Union for the latest rates.

NMLS Registry Information for Mortgage Loan Originators

 

  • Lisa Posthumus: 1115623
  • Veronica Hosford: 437946
  • Courtney Minor: 538398
  • Kelly Arnold: 1353195
  • Alyshia Coburn: 1595343
  • Jane Woods: 1243638
  • Debi Sackrider: 1585563
  • Trevor Hollis: 1368935
  • Dianna Kern: 644132
  • Ryan Maloney:435856
  • Becky Grieshaber: 413124
  • Danette Winans: 1574512
  • Dinah Magbag: 1734328
  • Shelia Mitchell: 1734327
  • Bonnie Fillwock: 1734326
  • Joan Phillips: 1734325
  • Wanda Alfes: 1734329
  • Courtney Mitchell: 1734284
  • Lisa Morris: 1734324

Mortgage Disclosure