One of the benefits of owning a home long-term is that you build equity in your property over time. With both HELOCs and HELOANs, you can borrow against that equity and receive money for home improvements, credit consolidation, unexpected expenses, or even that vacation you have been putting off for years. Both HELOCs and HELOANs can use either a first-home, second-home, or investment property as collateral.

Rates

Key Features

  • Low Closing Costs
  • No Annual Fees
  • Competitive Rates
  • Quick Processing

A HELOC is like credit card with a much lower rate. This product allows you to use the equity earned on your home’s value. Instead of receiving a lump sum loan, members instead receive a line of credit accessible online or using HELOC checks. All payments are interest are calculated on the money you use, not the entire line of credit.

Product Details

  • 15-year draw period with interest-only payments
  • 15-year repayment period
  • Deferred closing costs
  • Competitive adjustable rates
  • Online payments & account management

HELOANs are lump-sum loans that allow you to take advantage of the equity you have earned on your home. Unlike a HELOC, these loans come with a fixed payment and interest rate over a term of up to 10 years. HELOANs funds are available as soon as the loan closes.

Product Details

  • Terms up to 10 years
  • Competitive fixed rates
  • No annual fee
  • Quick loan processing
  • Online payments & account management