Welcome to your Home Equity Headquarters

Whether you're looking to consolidate debt, remodel your kitchen, add solar panels to your house or take a much-needed vacation, tapping into the equity in your home may be the right move. Here are resources to help you better understand what home equity options you have and how to use them.

Know exactly what you're looking for? Get started with us.

Resource #1

Interactive tool* to help choose: Which type of loan is right for you?

By answering five questions you can get a better idea about what type of home equity or energy loan might be the best fit for your needs.

Links to or contains links to third-party sites.

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Resource #2

Home equity calculator

Identify how much equity your home may have — What is equity? It's the difference between the current market value and the amount that you owe on the property. Enter your address here to help you identify how much equity you have in your home.

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Resource #4

Talk to a specialist

Schedule a free no obligation consultation with one of our specialists who can answer your home equity or energy loan questions. Simply complete the form and a member of our team will be in contact with you soon.

Request a complimentary 1:1 consultation with a Home Equity Specialist

Request a complimentary 1:1 consultation with an Energy Loan Specialist

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Resource #5

Different loan types - understanding the difference (PDF)

A home equity line of credit (HELOC), home equity loan and energy loan all have different features and advantages. Learn more about these three different loan types by downloading our Home Equity Options PDF.

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Resource #6

Commonly asked home equity questions

We offer two ways to help you tap into the equity built up in your home.

The first is a home equity line of credit. With this product, you can access the funds as needed. Then, in a similar manner to a credit card, the monthly payment is based on the balance. This approach gives you control over your finances and provides a good amount of flexibility to how (and when) you access your funds.

The next option we offer is a home equity loan, which gives you a lump sum of money when the loan is established. You can then use those funds as needed.

After your application, our Financial Solutions Guides will help you determine which solution best fits you and your personal scenario. You can contact us learn more about Home Equity Loans and Home Equity Lines of Credit on our blog.

We keep it simple. There’s no application fee.* You can apply online, over the phone or in a branch. Credit, income and collateral qualifications apply; note that your credit will be pulled. After reviewing your application, an Elevations loan officer will be in touch with next steps.

*3rd party fees apply.

We understand that each individual situation is unique. The amount you're able to borrow varies based on different factors like your credit score, available home equity and more. The best option is to complete an application so that one of our local Financial Solutions Guides can help you evaluate which solution is the best fit for you.

Here’s some general industry standards that may also help guide you. Industry standard is to lend up to 80% combined loan to value.* Some lenders may have programs that allow the borrower to go to 90% CLTV, typically at a higher interest rate.

To explore your situation further, try our Home Equity Calculator.

*Combined loan to value is the balance of your first mortgage plus the balance of a home equity loan divided by the value of your home.

Not always! We live here too and understand the Colorado real estate market.

We also use an Automated Valuation Model that attempts to generate an estimated value for the home based on recent sales, market data, and predictive software. If we feel confident in that estimated value, we may be able to move forward without an appraisal.

Larger loan amounts may require the completion of an appraisal.

While there are no fees associated with keeping your loan open or pre-paying your balance early, there are some fees tied to opening a HELOC or Home Equity Loan:

  • Appraisal
  • Title work
  • Filing fee, etc.

The credit union will pay up to $500 in 3rd party fees upon opening a Home Equity Loan or HELOC. Closing costs range from $144 — $1,000. If the loan is not open for at least 2 years, the fees are the responsibility of the borrower at the closing of the loan or line of credit.

One of the benefits of working with Elevations is our underwriting team is all in-house. Since we're based in Colorado and understand the market, we can move very quickly. In many cases, you’ll receive your funds in as little as 2-4 weeks from the time we get your application.

Here are a few of the factors that may impact the timeline of your Home Equity Loan Application:

  • Document collection
  • Appraisals
  • Scheduling around you, your family, and your personal situations
  • Etc.

Start your application today

With an Elevations Home Equity Loan, you have access to funds from the lump sum that was either deposited into your Elevations account or made payable to you by check.

With an Elevations Home Equity Line of Credit, you can access funds by using your Home Equity Visa® Card, transferring money to your checking account or writing a check.

The funds from your Home Equity Loan can be used in a variety of ways including:

  • Home improvements
  • Paying off credit cards
  • Purchasing a vehicle
  • Relieving yourself from school and/or medical expenses
  • Taking a vacation
  • Donating to a local cause or charity
  • You can use the funds for just about anything, talk to an Elevations Financial Solutions Guide to learn more about how you can use home equity loan funds.

Commonly asked home energy questions

If you’re not sure where to begin, let us know and we can help you find a participating contractor and local program.

For home energy loans on a personal house or property, the minimum amount is $500. For business energy loans, the minimum is $1,000.

An energy assessment is not required, however we recommend getting an energy assessment because it may help you identify and prioritize energy-efficiency projects.

Some examples of approved home energy projects include:

  • Rooftop solar panels
  • Heating, ventilation and air conditioning (HVAC)
  • Windows
  • Insulation and air sealing
  • ENERGY STAR® appliances
  • Lighting
  • Water heating
  • Energy assessments and monitoring

Fees include a $25 processing fee, UCC-1 Filing fee and a $100 fee payable to CCEF RENU Program.

Additional Resources

Credit Card Bonus Cash

For help understanding which type of loan is right for you, check out this blog on what to consider before borrowing.

Travel Bonus Points

Check out more information on what a home equity loan can do for you.

Auto Discount

Wondering whether to get a home equity loan or go through a cash-out refinance? We can help you decide.

HELOC Discount

Wondering what qualifies for a home energy loan? We've got answers.


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Want to learn more?

Our handy (and free!) Homebuyer’s Guide has savvy tips about rate shopping, helpful information about credit reports and advice for making a smart offer. Plus, you’ll get invitations to upcoming homebuying events. Fill out the form below to download.

Elevations Homebuyers Guide Cover

Recognized nationally. Grounded locally.

We’re local — like you and your new home — so it makes sense why we’re one of the highest rated lenders on the block (and in the state of Colorado). But did you know that we’re also recognized nationally for our mortgage program?

We’re ranked:

  • No. 1 mortgage lender in Boulder County and Broomfield County
  • No. 2 mortgage lender in Larimer County
  • No. 1 credit union mortgage lender in Colorado
  • No. 10 credit union mortgage lender nationally
  • Only Colorado mortgage lender in national Top Mortgage Lenders 2018 by Scotsman Guide
  • Four Mortgage Loan Officers ranked nationally as Top Mortgage Originators by Scotsman Guide

We’ve been named:

  • Best Mortgage Lender in Boulder County Gold (Daily Camera
  • Best Mortgage Company in CU & Boulder’s Best (Colorado Daily)
  • Best Mortgage Provider in Longmont Readers’ Choice Awards (Longmont Times-Call)
  • Best Mortgage Lender in Loveland Readers’ Choice Awards (Loveland Reporter-Herald)

Want to see the numbers?

Use our mortgage calculator to see what your monthly payment could be with a mortgage from Elevations.

Your home’s equity is important — we're here to help

Get started with Elevations today and reach out to a home equity or energy specialist, or go back to the hub’s overview.

*Links to or contains links to third-party sites.

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