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Home Equity Line of Credit

Unlock the equity in your home to use when you want with a revolving equity line of credit. Use your line for improvements to turn your home into your dream home.

Rates current as of July 22, 2024

You're in the driver's seat with a HELOC

A home equity line of credit or HELOC is a revolving credit line secured by the equity in your home.

Depending on the amount of your loan, take up to 20 years to repay the loan. During the draw period of 10 years, you choose when and how much to draw. As the balance is paid back it can be borrowed from again and again.

Looking for more information? Check out What You Should Know About Home Equity Lines Of Credit >

How to get started

Give us a call, stop by any branch or apply online today!

Educational Resources

Current Rates

Home Equity Line of Credit

Loan-to-ValueAPR*Min. AmountTerm
75%8.50%$20,000Revolving, up to 20 yrs.

Home Equity Lines of Credit: Current APR is variable and can range from 4.50% (floor) to 18.00% (ceiling).  You can obtain credit advances up to 10 years (the draw period). During the draw period, payments will be due on a monthly basis. Your minimum monthly payment will be established at the close of each billing cycle at an amount equal to all accrued yet unpaid finance charges. After the draw period ends, you will no longer be able to obtain credit advances and must pay your outstanding balance (the repayment period). The length of the repayment period will depend on the date and the amount of your last advance but in no event will exceed 20 years. During the repayment period, your minimum periodic payment (for variable rate balances) will be the amount necessary to fully amortize your then unpaid balance by the agreement maturity date. The minimum periodic payment will be established on the first day of such repayment period. $99 annual fee applies.

Secure and Fair Enforcement for Mortgage Lending Act of 2008 or the “SAFE Act”

APR = Annual Percentage Rate. Quoted rates reflect the lowest rate available. Best Rate may vary based on personal credit history, value of collateral, loan to value (LTV), terms, and other factors. First Credit Union provides details upon completion of a loan application. Rates are subject to change without notice. Must be primary residence. Property insurance required. Payments do not include applicable taxes and insurance. First Credit Union membership is required. Closing costs – Closing costs include property evaluation, flood certification, property ownership and encumbrances search, and recording costs. First Credit Union will pay closing costs associated with a home equity loan. Member is responsible to reimburse closing costs associated with their loan if it is closed within the first 36 months.

NMLS #790286 | On July 28, 2010 the National Credit Union Association (NCUA) and other Federal Agencies published a final rule to implement the federal registration requirements of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act). The registration requirements apply to all employees acting in the capacity of a Mortgage Loan Originator (MLO). The S.A.F.E. Act requires all MLO’s to register with the Nationwide Mortgage Licensing System and Registry (NMLS). Once registered, each MLO is provided a Unique Identifier from the NMLS. An MLO must provide this Unique Identifier to each mortgage loan applicant upon request and prior to the employee acting as an MLO.

For more information about the registry, please visit the NMLS.