Home Equity Lines of Credit

With our HELOC, there's no smarter way to borrow.

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.

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)
  • 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.

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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 less than $300,000, 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 loan or 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. 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. As of 12/17/15, prime rate is 3.50%. 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. Minimum initial draw is $25,000, up to 90% Loan to Value (LTV). Published rates and terms based on primary homes. Other rates and terms available for secondary homes and investment properties. This page is updated regularly. SECU is an Equal Housing Lender.


*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.


Error Resolution and Information Requests

You have certain rights under Federal law related to resolving errors and requesting information about your loan account. In order to provide us with notice of an error on your loan account, or to request information about your loan account, please send us a written notice that contains (i) your name, (ii) your loan account number, and (iii) information concerning the error you believe has occurred or the information you are requesting about your loan. This written notice must be sent to the following address: SECU P.O. Box 2092, Glen Burnie, MD 21060.