Home Equity Options

Unlock the equity in your home with a Fixed Home Equity or Home Equity Line of Credit.

Rates current as of December 1, 2023

First Credit Union offers Home Equity loans with your needs in mind - from small home improvements to full home renovations, paying for college, consolidating debt or taking care of unexpected expenses.






Home Equity Line of Credit (HELOC)1

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

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. Depending on the amount of your loan, take up to 20 years to repay the loan. 

Fixed Home Equity Loan2

With a fixed home equity loan you can count on a locked-in term and a fixed rate because you receive the entire loan amount up front and then pay it back in equal monthly payments. 

Current Rates

Home Equity Line of Credit

Loan-to-ValueAPR*Min. AmountTerm
75%8.50%$10,000Revolving, up to 20 yrs.

Fixed Home Equity Loans

Loan-to-ValueAPR*Min. AmountTerm
75%7.75%$10,0002-15 yrs.

How to get started

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

Educational Resources

*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.

1. 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.

2. Fixed Home Equity Loans: APR will be fixed during the term. Must be primary residence. Property insurance required. The minimum approved loan amount is $10,000. The maximum approved loan amount is $300,000.  Payments do not include applicable taxes and insurance. Actual obligation will be greater. Payment example would be $718.08 a month on a $35,000 loan for 5 years with an APR of 8.50%.

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

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.