We’re all spending more time at home these days. Make your home your perfect oasis with SECU’s low rate Home Equity Line of Credit. Apply now, and get an introductory 1.99% variable interest rate* for twelve months, and as low as 3.5% variable thereafter. To qualify for the introductory rate, you must set up or have a full check direct deposit to a SECU checking account.
Once approved, you have the option to lock in a fixed rate on a portion or all of your new Home Equity Line of Credit. Learn more about our fixed rate options.
Whether you want to put in a new kitchen, build an outdoor retreat to help you relax, or turn your basement into the perfect family entertainment center, you can make every day a more enjoyable at home with our low rate Home Equity Line of Credit.
- 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
Use our HELOC calculator to determine how large a line you can get.
*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 $300,000 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 24 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 1.99%. 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 received between now and December 31, 2021 with a minimum initial draw of $20,000 and a maximum 90% combined Loan-to-Value (CLTV). The introductory rate 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.
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).
Direct Deposit Requirement Introduced
** 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.