With our Home Equity loan, you have the option of reducing your monthly loan payments because of a longer repayment period. You can access up to $10M and up to 15 years to repay with competitive interest rates when you use your owned property or land as collateral to access our Home Equity loan for: debt consolidation, home improvement, education, medical expenses, loan refinancing or other purposes.

Home Equity Loan Calculator

JPS & Partners Credit Union reserves the right to amend the terms of our product offerings including changing the interest rate, repayment period, maximum loan amount and/or share requirement. Other conditions apply. Monthly payments are calculated using an amortization calculator based on information you input which must include: loan amount, interest rate, and repayment period in months.

  • Loan protection insurance – coverage up to $2M
  • Life savings insurance – coverage up to $1M
  • Competitive interest rates,
  • Up to $10M to borrow (90% of property value or 80% of value of land, whichever is less) 
  • Up to 15 years to repay
  • Share requirement of at least 5% of loan amount
  • Financing available for members up to 65 years of age
  • Applicant’s life must be covered by life insurance*. This policy must be assigned to JPSPCU exclusively.
  • Successful applicants must insure their property through a reputable insurance company acceptable by JPSPCU against all insurable losses.

The following documents are required:

    • Completed Loan Application Form
    • Copy of Registered Certificate of Title
    • Sales Agreement
    • Valuation Report
    • Surveyor Identification Report
    • Quantity Surveyors Report (estimate of costs) – if applicable
    • Approved Building Plan – if applicable
    • Job Letter
    • Last Two (2) Pay Slips
    • ID & TRN
    • Statement of Indebtedness from Financial Institution
    • Certificate of Payment of Taxes
    • Utilities paid-up-to-date
    • Evidence maintenance payments and other outgoings are current – if applicable
    • Secondary Peril Insurance of Property
    • Evidence of Strata Insurance – if applicable
    • Certificate of independent legal advice

List of Approved Valuators

  • SFR Property Appraisals & Services.
  • Wilcain & Associates.
  • *And other valuators licensed by the Real Estate Board.