Home Equity Line of Credit
Put the equity in your home to work for you!
A Home Equity Line of Credit (HELOC) is a line of credit secured by the equity in your home, with limits ranging from $10,000 to $100,000. Use your available credit for any reason – home improvements, debit consolidation, college tuition, a vacation – whatever you want. Enjoy the convenience and ease of advancing your funds online, on the CCU mobile app, over the phone or with a teller.
HELOCs have a 10-year draw period, during which you can advance funds as needed up to your approved limit, followed by a 15-year repayment period. During the draw period, the interest-only minimum monthly payment can make budgeting easier, but you can pay any amount over the minimum to decrease your balance sooner. Rate plans are based on the Prime Rate, and the variable rate interest is subject to change quarterly.
Let’s Talk! Call a CCU home loan specialist today to learn more about how a HELOC can make a difference in your life.
HELOCs have a 10-year draw period, during which you can advance funds as needed up to your approved limit, followed by a 15-year repayment period. During the draw period, the interest-only minimum monthly payment can make budgeting easier, but you can pay any amount over the minimum to decrease your balance sooner. Rate plans are based on the Prime Rate, and the variable rate interest is subject to change quarterly.
Let’s Talk! Call a CCU home loan specialist today to learn more about how a HELOC can make a difference in your life.
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NMLS Institution ID #456101