Home Equity Line of Credit

Fund Your Vision

You have a vision. Whether it’s to start your own business, pay off credit card or student loan debt, go back to school, or make improvements to your home, visions take money. That’s where we come in.

Tap into the equity in your home to fund your vision with SECU’s low-rate Home Equity Line of Credit. Apply now and get an introductory 5.24% variable interest rate* for twelve months, and as low as 7.50% variable thereafter. To qualify for the introductory rate, you must have a full check direct deposit to a SECU checking account.

Fund your vision with SECU’s Home Equity Line of Credit, and enjoy many benefits:

  • No closing costs**
  • Flexible options to lock-in low rates
  • Fixed rate options
  • No application fee
  • No points
  • No annual fee
  • Easy access to funds

Click here to view more home equity calculators.

Have questions? We have answers.

A HELOC works a lot like a credit card. It’s a flexible line of credit secured by your home’s equity but with a “draw” period (typically the first 15 years of a HELOC) which you may access from your available balance. You can draw at any time from this balance up to your available credit limit for things like home improvement, a medical bill or a family vacation.

Interest rates on HELOCs are usually variable rates. With a SECU HELOC, you can lock in up to three fixed rate, fixed payment sub-accounts under one master line. Often the interest on a HELOC is tax deductible, although you should check with your tax advisor.

Accessing your HELOC funds is quick and easy. Watch this video to learn how.

Not at this time. However, our Home Equity Line of Credit offers you the option of locking in up to three fixed rate sub-accounts under one master line of credit. This gives you the advantages of both a fixed rate/fixed term account and a revolving home equity line.

This is where you can divide up your HELOC into smaller portions which are called sub-accounts. A sub-account gives you the advantage of a fixed rate, a fixed payment, and a fixed pay off schedule. Dividing up your HELOC also makes it easier to track your money.

For example, let’s say you want to purchase an $8,000 kitchen countertop. You have a $20,000 credit limit in your HELOC and no outstanding balance. With a SECU HELOC, you can create an $8,000 sub-account and either lock in that amount at a fixed rate with fixed payments, or allow the $8,000 to remain in your variable rate outstanding balance. Either way, you’ll still have $12,000 in affordable financing that you can still access for virtually any purpose.


*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 $500,000 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 36 months or original note date, closing costs must be reimbursed to SECU by borrower. Adequate property and flood insurance required, if applicable.

Introductory rate is a variable rate of Prime minus 2.26% for 12 months, subject to a minimum of 2.50%. 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 with a minimum initial draw of $20,000 and a maximum 90% combined Loan-to-Value (CLTV). The introductory rate is available for primary residences only and 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. Consult a tax professional for further information regarding the potential tax deductibility of your interest payments and charges.

Direct Deposit Requirement Introduced

This promotional offer requires direct loan payment from a SECU account and a direct deposit of full pay check to SECU checking account (existing direct deposit qualifies).

** SECU advances costs for appraisals, credit reports and closing costs on your SECU Home Equity Loan or Line of Credit (primary/secondary residence only) on loan amounts less than $500,000. Closing costs generally range from $850 to $1,000 on a $20,000 line of credit. If the line of credit is paid off and closed within 36 months of original note date, closing costs must be reimbursed to SECU by borrower.