Home Equity Line of Credit

Home Equity Line credit card

Home Equity Line of Credit

For debt consolidation, home improvements or large expense.

A home equity line of credit, or HELOC, works like a credit card. You are able to borrow up to an approved amount over a certain period, commonly known as a draw period. During that time, you can withdraw money as you need it. As you pay down the principal balance, your credit revolves, and you can use it again, payments are based on amount advanced and not the full loan amount. HELOCs tend to be the most popular type of home equity loan.  

Benefits and Features of a HELOC

HELOCs are generally best for people who need funds for ongoing home improvement projects or who need more time to pay down existing debt. Rate is variable and adjusts based on Prime rate.

  • Payments are based on amount advanced and not the full loan amount.
  • Easily transfer loan money into checking account with online banking
  •  No closing cost on loans over $10,000¹
  • Monitor your account and transaction details online
  • Link your HELOC to a Visa® credit card
  • Up to 100% financing
  • Make payments online or at any FCU location
  • 10 year draw period²

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Home Equity Loan and Line of Credit Calculators


Home Mortgage Disclosure Act Notice

The HMDA data about our residential mortgage lending is available online for review. The data shows geographic distribution of loans and applications; ethnicity, race, sex, age and income of applicants and borrowers; and information about loan approvals and denials. This data is available online at the Consumer Financial Protection Bureau’s Web site (www.consumerfinance.gov/data-research/hmda). HMDA data for many other financial institutions is also available at this Web site.

1. No closing cost for loans $10,000 or greater.  Title insurance for loans $250,000 and greater paid by member.

2. After 10 years, HELOC should be repaid or application can be submitted to extend the term.

Terms are 5, 7, 10, 15 and 20 years. Minimum loan amount is $10,000. Maximum loan amount determined by home equity and creditworthiness. Credit approval and other restrictions apply.  Property insurance is required, and flood insurance may be required depending upon the location of the property. The amount of equity available in your home is based upon the current market value of the property, minus the amount of any current mortgages and other liens on the property. Home Equity Line of Credit (HELOCs) - The Annual Percentage Rate (APR) is a variable rate and is based on Wall Street Journal Prime plus an applicable margin. All home equity loans and lines of credit are secured by a lien on your home. Full appraisal may be required in certain circumstances. All rates and terms are subject to change without notice; please contact the Credit Union for current rates and terms.

The calculators found on this page are for information purposes only. While the results of the calculators may be generally accurate, the results do not reflect any specific credit union accounts, loans or other products or services and may not exactly match the calculation methods used by the credit union (or any third party) for accounts, loans or other products or services. These calculators should be used only for general informational purposes and should not be relied on for any specific transaction.