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Fixed-rate Home Equity Line of Credit

Choose a fixed rate for the term of your Home Equity Line of Credit and make interest only payments for the first five years.

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 when you need it at the same fixed rate for the full 15-year term of the line of credit. Loan amounts range from $5,000 to $350,000. With this line of credit you can also:

  • Borrow up to 80% of the equity in your home (the appraised value multiplied by 80%, less the remaining balance on any existing mortgage)
  • 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

At SEFCU you can draw on your home's equity at a competitive fixed rate for any purpose. We pay closing costs except NYS mortgage tax and title insurance when required*.

For fixed-rate home equity line of credit disclosures, click here.

Home Equity Mastercard

Want an easier way to access your Home Equity Line of Credit? Get our free SEFCU Home Equity Mastercard and use your credit line anywhere Mastercard is accepted - without writing a single check - to pay for a can of paint or a down payment on a new car.

There's no minimum transaction amount with a SEFCU Home Equity Line of Credit, and you'll enjoy a generous daily purchase limit of $5,000.

Apply for Your Fixed-Rate Home Equity Line of Credit

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Rates and More Information: