Home Equity Loans & Lines of Credit
Looking to do some home improvements, consolidate debt, pay for a wedding, college, or other expense? Heritage Family Credit Union offers two home equity options securing the equity in your primary or second home. We offer both loans with quick turn around time (about 4 weeks), and no closing costs for qualified borrowers.
What product is right for you?
Home Equity Line of Credit (HELOC) |
Home Equity Loan |
Revolving credit line using the available equity in your home |
One-time disbursement of funds using the available equity in your home |
Rate is fixed for the first two years from the date of closing |
Fixed rate and payment for the term of the loan |
Principal and interest payments when there is an outstanding balance |
Can be used for purchase funds |
Borrow up to 100% of the available equity |
Borrow up to 100% of the available equity |
Draw funds, pay the balance off, and use again, or keep the line available with no balance |
Available discount of .5% off current rate for alternative energy, renewable energy, or home energy efficiency projects |
|
Home improvement only loans up to 133% of the available equity |
Term: 10 year draw, 15 year term |
Terms from 3 years to 15 years |
Apply for a Home Equity Line of Credit (members)
Apply for a Home Equity Line of Credit
(non-members) |
Apply for a Home Equity Loan |
Ready to apply? Gather the documents you'll need for your application before you start. Download the Mortgage Loan Application Checklist before you begin!
Learn more about home equity by downloading this guide.