Smart Equity

Ready to tap into the equity in your home? Only Smart Equity from iQ gives you the security of a fixed-rate loan with the flexibility of a line of credit. With Smart Equity, you can use any or all of your approved amount as a line of credit or as a fixed-rate loan - with up to three different fixed-rate loans from your approved amount. And your available balance increases as you pay down your loans. When it comes to home equity, it pays to think Smart. Apply today.

Here’s how Smart Equity works:
Let’s say your home is appraised at $300,000 and you have an existing mortgage of $150,000. Do the math and you have an available equity amount of $150,000.

From that, let’s say you get a Smart Equity loan of $60,000.

You use $20,000 to re-do a bathroom. With Smart Equity, you choose the term (from 24 to 72 months), which helps determine the rate.

A few months later, you use another $20,000 to pay for your daughter’s wedding. There’s no need to reapply, the funds are ready when you are.

Then down the road, you use $10,000 for a trip to Europe. Again, you choose the term and the type of loan.

After three loans on the same Smart Equity account, any remaining funds automatically become a variable-rate home equity loan, ready to be tapped into whenever needed.

Home Equity VISA Gold Card

If you want the convenience of a VISA card linked with the money saving advantages of a Home Equity Line-of-Credit, the Home Equity VISA Gold card is for you. There's no setup fee on accounts of $50,000 or less. Since the account is tied directly to your home, you can use the money for anything you like - and still deduct the interest come tax time (we suggest you consult with a tax advisor). Other benefits include Credit Union fee-free cash advances, buyer protection, extended warranties, 24-hour emergency assistance and more. All standard. All yours. Apply online today! And even if you don't have equity built up, chances are we can still fix you up with a Line-of-Credit.