Home Equity Lines of Credit

What exactly is a HELOC? A home equity line of credit gives you access to a sizable amount of cash, up to 80% of your home’s value, less the balance remaining on your mortgage and adjusted based on your creditworthiness, plus your ability to pay.

  • Payment amount 1.5% of balance outstanding
  • Adjustable rates
  • Up to 80% of appraised value available

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Maximum Terms

  • You can obtain advances of credit for ten (10) years (the "draw period").
  • The Credit Union reserves the right to renew the draw period.
  • After the Draw Period ends, you will no longer be able to obtain credit advances and must repay the outstanding balance remaining on your line. This is referred to as the "repayment period."
  • During the repayment period, the balance and payment will be calculated to fully amortize and pay off your balance over ten (10) years.


  • You will receive access to online banking to process draws against your Home Equity Line of Credit. Convenience checks available upon request.
  • If the Credit Union is paying off a subordinate lien in order to establish the Line, the Credit Union will make the first draw on your account.
  • Your Account is not subject to any minimum draw amount or minimum balance requirements.

Maximum Amount

  • We will finance a maximum of 80% of the appraised value of the property minus the 1st mortgage balance if there is one.
  • The maximum credit limit will be $350,000.00.

Type of Lien

  • The loan will be recorded as a lien against your primary residence and is secured with a Deed of Trust.

Annual Percentage Rate and Fees

  • Your Annual Percentage rate can change monthly, beginning on the first of every month.
  • The Annual Percentage rate is based on Prime plus a margin.
  • Loan to Value, current financial situation and credit score will determine the percentage added to Prime.
  • After you open a Credit Line, rate information will be provided on periodic statements that we send you.
  • The minimum Annual Percentage Rate that can apply is 4%. The maximum Annual Percentage Rate that can apply is 18%. Please consult the Rates Page for the current Annual Percentage Rates.
  • The Annual Percentage Rate during the repayment period will be the Annual Percentage Rate in effect at the time you close your line and the draw period ends.
  • All normal closing costs charged to establish Line are paid by the member.


  • During the 10 year draw period, payments will be based on 1.5% of the principle balance after each advance you make.
  • Once you have reached the end of the draw period and your loan is placed in the repayment period, payments will be based on the interest rate in effect on that day amortized over 10 years.