Choose the home equity product that works best for you.
Fixed-Rate Home Equity Loan 
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A fixed rate home equity loan has an interest rate that stays the same throughout the life of the loan. Since the interest rate doesn’t change, the amount of each monthly payment is stationary as well. At Purdue Federal, you’ll find competitive rates with no annual fee and no prepayment penalty.
- Competitive Closing Costs
- Make payments directly to Purdue Federal
- No Prepayment Penalties
- No Annual Fee
- Competitive, Fixed Rate
- Use the money for practically anything!
FHA Home Improvement Loan 
No equity? You can still make improvements! **
Designed to give homeowners the ability to finance home-improvement projects when no equity is available in the home. Common repairs and/or renovations are eligible, ranging from new garage doors or outdoor deck to repairing the roof and fixing heating/cooling, to repairing structural damages to the property.
- Competitive Rates
- No Annual Fees
- No Prepayment Penalties
Home Equity Line of Credit 
LIMITED TIME OFFER:
Lock your rate for 12 months.^ Make home improvements, pay for a wedding or even use it to cover college tuition. Anything is possible. Start your application today!
Borrow what you need, when you need it from a variable-rate line of credit tied to the equity in your home. Draw against the line for up to 12 years with another 12-year repayment period.
- No Closing Costs
- No Prepayment Penalties
- No Annual Fee
- 12 Years to Borrow; 12-Year Repayment
- No Minimum Draw at Closing
- Interest-Only Payment Option
- Make payments directly to Purdue Federal
Not just for home improvements.
Equity in your home = $$ for practically anything!
Put the equity in your home to work for you. Use the available equity for any number of reasons.
- Add value to your home by remodeling your kitchen or adding a bathroom.
- Help your child with tuition and college expenses.
- Pay for your child’s wedding expenses.
- Purchase a new vehicle.
- Go green and enhance your landscaping.
- Take that all-inclusive vacation you’ve been waiting for.
- Consolidate other high-interest debts.
^Subject to approval. Consult a tax advisor concerning tax deductibility. Minimum monthly payment is 2% of your balance or a minimum of $87.50, whichever is greater. Interest-only payments are also available. Loan-to-Value (LTV) is the ratio between the existing mortgage loan balance(s) and current market value. Rate is variable based on the one-year Treasury bill plus 3%, currently as low as 3.25% (as of March 1, 2013) for loans with an 80% LTV or less. Up to 90% LTV financing available at different rates. Rates subject to change. Typical repayment example for a loan amount of $50,000 at 3.25% APR: 2% of the outstanding balance would equal a payment of $1,000. Home Equity Line of Credit (HELOC) rates cannot increase more than 2% per month and no more than 6% over the original rate during the life of the loan. HELOCs can only be drawn upon for up to 12 years with another 12-year repayment period. Offer valid on new HELOCs opened March 22-June 30, 2013, and on existing HELOCs with a balance of $0.00. For more details see a Purdue Federal loan representative.
**Subject to credit approval. Financing up to 100% loan/value financing available at different rates. The Home Equity Line of Credit rate cannot be increased more than 6% over the original rate during the life of the loan. Membership eligibility required. See Guide to Member Services and Fee Schedule for full disclosures.