Check RatesApply Now
The smart way to build your future.
A Home Equity Line of Credit (HELOC) is a great way to tap into your home's equity to consolidate bills or handle big expenses like home improvements or college tuition.
A HELOC works a lot like a credit card; you'll get pre-approved for a specific spending limit and can then use the money as you need it. You make monthly payments based on the outstanding balance and your interest rate.
You can also lock a portion of your available line into a fixed-rate sub account. You can lock in up to three fixed-rate advances.* So you use the money as you need it—use it now or save it for an expense down the road.
How can you benefit from a SECU Home Equity Line of Credit?
- Save money with interest rates that are lower than most credit cards
- Deduct interest and save on income taxes (see your tax advisor)
- Lock in a portion of your available funds at a fixed rate, up to three times.*
- Conveniently access funds with a Home Equity Visa® card you can use anywhere Visa is accepted
- Track and manage your account 24/7 via Online and Mobile Banking
- Save time and enjoy the added convenience of scheduling the closing at your home or office - even on an evening or weekend
Plus, there's no application fee, no annual fee and no closing costs.**
Now that's a different direction.
* Applies only to HELOCs from applications submitted on or after 10/19/16.
**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 $300,000. Closing costs generally range from $850 to $1,000 on a $20,000 line of credit. If line of credit is paid off within 24 months of original note date, closing costs must be reimbursed to SECU by borrower.