Home Equity Line of Credit (HELOC)
Use the equity in your home as a powerful source of funds to pay for college tuition and school expenses, remodel your kitchen or make other home improvements, consolidate debt, fund a vacation, cover medical expenses and more. You get flexible, easy access to your funds when you need them, and the interest may be tax deductible. (Consult your tax advisor for details.)
|Loan type||APR (Low)*||APR (High)||Term|
|Home Equity Line of Credit (HELOC)||4.00%||6.00%||Draw period of up to 10 years. After draw, repayment term of up to 15 years.|
|HELOC annual fee||$75||$50||$25|
|The HELOC annual fee is waived the first year. After that, the annual fee depends on your Member Merits category as shown in the table above.|
Closing costs vary between $0-$2000.
Is a HELOC right for you?
HELOCs are perfect for people who have substantial equity in their home, want the flexibility of a line of credit at a lower interest rate, and want a quick and inexpensive way to access the equity in their home.
Learn more about home equity with these articles
Benefits of a HELOC
Monthly interest-only payments on balances advanced during the draw period
Annual fees based on member merits waived for the first year
Convenient access to funds by visiting a branch or through Phone Access Teller, online banking or HELOC checks
Lines of credit up to $350,000 depending on the amount of equity in your home
No application fee
Funds can be accessed for any purpose
Start your Home Equity Line of Credit today
Make your home owner dreams come true today using the equity in your home. We’re happy to answer your questions. Call us at 800-732-0173 or apply online.
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