Home Equity Loans & Lines of Credit

Home Equity Loans Heritage Family Credit Union offers Home Equity Loans and Home Equity Lines of Credit (HELOCs) to our members at super-competitive rates.

Do you know the difference between Home Equity Loans and HELOCs? Both types are secured by the mortgage you have on your home. If you are looking to tap into the equity of your home, it's important to know the difference between these two kinds of loans.

A Home Equity Loan is a one-time loan with a fixed interest rate that you pay over a set period of time. Once you have initiated the loan, you cannot borrow further against it. In other words, a Home Equity Loan is a term installment loan. Many homeowners like the option of locking in a fixed rate with a home equity loan because it protects them against rising interest rates.

A Home Equity Line of Credit (HELOC) is a revolving loan, meaning it is a line of credit that you can draw against any time. For example, you can borrow up to the limit and pay down your debt at your own pace, as long as you meet the monthly minimum payment requirements. Unlike Home Equity Loans, HELOCs have an interest rate that fluctuates with the market.

Green Home Equity Loans

Special financing is available on any alternative energy, renewable energy or home energy efficiency projects. Projects can include insulation, windows, appliances, solar energy systems and more.

• An available discount of .50% OFF regular home equity loan rates will be offered.
• Financing up to 7 years.
• For loans above $5,000, if members have the H.E.A.T. Squad (Home Efficiency Assistance Team) perform an energy audit, a rebate of $50 toward the cost of the audit will be deposited in the member’s account when the Green Home Equity Loan is funded.
• New money only.

Should I consolidate my loans?

*APR = Annual Percentage Rate. All loans subject to approval. Rates, terms, and conditions are subject to change. Ask us for details.

Emerald VISA
Emerald VISA cards give you the purchasing power you need when you need it. The credit union offers several great Emerald choices for you and your business. Our Emerald VISA cards offers members Choice Rewards, a program specially designed to reward members for their VISA usage.
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