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 6.25% variable interest rate* for twelve months, and as low as 8.50% 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:

  • Use your variable-rate line of credit during the 10-year draw period
  • Pay no annual fee and no pre-payment fee**
  • Choose an interest-only (requires minimum credit score of 700+ and maximum loan-to-value of 80%) or an amortizing payment option for your line of credit during the 10-year draw period. Amortizing payments are calculated on a 20-year amortization.
  • Manage your account with 24-hour online access
  • Pay your advances together with one monthly payment
  • Use your line of credit for 10 years and then take up to 20 additional years to pay off any remaining balance in your variable line.  If your payment was interest only it will be adjusted to a principal and interest payment at that time.
  • Lock your rate on three advances at any one time during the 10-year draw period for a repayment term not to exceed the remaining term of your loan.

Rates and Disclosures



Click here to view more home equity calculators.

Have questions? We have answers.

Depending on the terms of your HELOC, your new Line may have an “interest only” repayment option. For HELOC applications after 2/1/2024, this repayment option is available on primary/secondary properties with a maximum LTV of 80% and members with a minimum credit score of 700.

For a fully amortized payment, the payment is calculated to be principal and interest necessary to fully amortize the outstanding balance over a 20-year term, subject to a minimum monthly payment of $100.

For an interest only payment, the payment is calculated as the amount of interest accrued to the last day of the billing cycle, subject to a minimum monthly payment of $100.

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

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.

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.

*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 of 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. Introductory rate offer is valid on qualified (including a minimum 700 FICO) 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 applies when borrowers select a direct loan payment from a SECU account and have direct deposit of a full pay check to SECU checking account (existing direct deposit qualifies). 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. This promotional offer specified applies where borrowers select direct loan payment from a SECU account and have direct deposit of full pay check to SECU checking account (existing direct deposit qualifies).

Interest Only Home Equity Line of Credit Introduced

The Interest Only Home Equity Line of Credit requires a minimum credit score of 700+ and a maximum loan-to-value (LTV) of 80%.