Let your home work for you.
Get a Home Equity Line of Credit with a 2.24% variable interest rate* for 12 months, and as low as 4.00% variable thereafter. We challenge you to find a better deal in Maryland - or anywhere else for that matter! There's no smarter, or cheaper†, way to borrow.
- No closing costs*
- No points
- No application fee
- No annual fee
- Easy access to funds
- Tax deductible interest*
Not a SECU credit union member? Not to worry.
You don't have to be a state employee to join SECU. Most Marylanders are connected to SECU through a family member, employer, college or university affiliation (past or present), or other organization - and joining is easy.
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*APR=Annual Percentage Rate. Rates are subject to change without prior notification. SECU will advance the closing costs on any primary or second home with a loan amount of $300,000 or less, regardless of credit score and/or the number of SECU Home Equity loans the member has had. Closing costs generally range from $850 to $1,000 on a $20,000 loan or line of credit. If line of credit is paid off within 24 months or original note date, closing costs must be reimbursed to SECU by borrower. Adequate property and flood insurance required, if applicable. Consult your tax advisor for deductibility of interest.
Introductory rate is a variable rate of Prime minus 2.26% for 12 months, subject to a minimum of 0.99%. This results in the APR stated above, but it can change based on prime. Offer is valid on qualified new home equity line of credit applications received between now and June 30, 2018 with a minimum initial draw of $20,000 and a maximum 90% combined Loan-to-Value (CLTV). The introductory rate requires a direct loan payment from a SECU account. After the intro rate or for lines not subject to the intro rate, your monthly APR will be a fully indexed, variable rate based on Prime plus or minus a margin and based on your credit line amount, Loan to Value (LTV) and other factors. Prime rate is obtained from the Wall Street Journal. The minimum APR that can apply is 3.5% and the maximum APR that can apply is 18%. The rate is variable and can adjust on a monthly basis.
†Based on Informa Research Services report dated 12/14/16.
Federally insured by NCUA. SECU is an Equal Housing Lender.