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.
It allows you to 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.
With a HELOC from SECU, you get:
- No closing cost*
- No application fee
- No points
- No annual fee
- Easy access to funds
- Tax deductible interest**
You can check current HELOC rates here and use our Home Equity calculator to determine how large a line you can get.
* 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.
**Consult your tax adviser on interest deductions.