Fixed-Rate Home Equity Line of Credit

Overview

Cash for what you want, when you need it

Whether you're working on a long-term project or paying for college tuition, a Fixed-Rate Home Equity Line of Credit (HELOC) can give you quick access to cash.

 dollar bill emerging from the side of a house

 

Take up to 15 years to repay

Features & Benefits

Competitive rates

  • Borrow up to 75%* of the equity in your home for lines of credit greater than $100,000
  • Access your credit line by transferring funds, using your SEFCU Home Equity Mastercard®, or writing a home equity check
  • Draw on your line anytime within five years of origination
  • Take up to 15 years to repay
  • Pay only the interest during the five-year draw period. (Rates will vary depending on credit worthiness and Combined Loan-to-Value ratio.)
  • Make your payments bi-weekly or monthly
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Rates

Fixed-Rate Home Equity Line of Credit***

Term Standard APR** (as low as)
15 years 2.95%

Compare

See which is best for you

Fixed-Rate Home Equity Line of Credit

  • Enjoy a fixed rate for 15 years
  • Draw on the line of credit as needed for five years
  • Pay only interest during the first five years
  • Borrow from $5,000 to $350,000
  • Access your credit line by transferring funds, using your SEFCU Home Equity Mastercard®, or writing a home equity check

Variable-Rate Home Equity Line of Credit

  • Take advantage of a low, variable rate
  • Draw on the line of credit as needed for 10 years
  • Take up to 25 years to repay 
  • Borrow from $5,000 to $350,000
  • Access your credit line by transferring funds, using your SEFCU Home Equity Mastercard®, or writing a home equity check

Learn More

Apply Now

Apply for a SEFCU Fixed-Rate Home Equity Line of Credit today

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Financial Education

Calculator

Fixed-Rate Home Equity Line of Credit

Access cash over time

Enjoy the same rate for 15 years

Pay only interest during the first five years

 

View Fixed-Rate HELOCs

 

More to think about...

* The appraised value multiplied by 80%, less the remaining balance on any existing mortgage for loans $100,000 and below. The appraised value multiplied by 75%, less the remaining balance on any existing mortgage for loans over $100,000.
** Annual Percentage Rate. 2.95% fixed APR for credit qualified loans closing in first lien position. This rate applies to loans up to a 50% Combined Loan-to-Value (CLTV) ratio with a 15 year repayment term. Other rates are available up to 80% CLTV and loans closing in first or second lien position. The maximum CLTV is 75% for loans greater than $100,000 up to $350,000 A 5 year draw period is included in the 15 year repayment term. During the 5 year draw period, payments are interest only. The interest is calculated daily based on the balance owed and the rate for each day of the month and is then aggregated to determine the amount of the monthly payment. After this period, payments will convert to principal and interest calculated at the remaining 10 year term. Loan payment example: a $50,000 loan at 2.95% for 15 years, interest only payment would be approximately $121.30 and will vary slightly depending on the number of days in the month. The principal and interest payment would be $481.66 calculated over the remaining term of 10 years. SEFCU offers a rate reduction of 0.25% based on the published rate for Active US Military and Veterans. Learn more about Paying It Back.  All loans are subject to credit worthiness. Rates in effect as of 11/23/2020 - 23:20 and are subject to change at any time. Product is available for members whose owner occupied primary residence is located in New York State or Pennsylvania counties of Susquehanna, Bradford or Wyoming. Published rates are for new SEFCU loans. The minimum loan amount is $5,000 and the maximum loan amount is $350,000. 
*** New York State Mortgage Tax is required and paid by the borrower. Title insurance may be required. The remaining closing costs paid by SEFCU on behalf of the borrower will be charged back and added to the payoff amount of the loan if the home equity is paid and closed within three years of loan closing. The most common amounts for closing costs are estimated between $200 - $600, but depending on location and other factors, it could be higher or lower.