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Home Equity Line of Credit

Best credit union... best rates! We're offering a great rate for members who have maintained a great credit score.

Convenience Meets Flexibility

If you need an ongoing source of available cash, check out a SEFCU Home Equity Line of Credit (HELOC). It's flexible enough to meet nearly every need:

  • Borrow up to 80% of the equity in your home (the appraised value multiplied by 80%, less the remaining balance on your first mortgage)
  • Access your credit line with an account transfer, write a home equity check, or simply use your SEFCU Home Equity MasterCard®
  • Draw on your line anytime within 10 years of origination
  • Take up to 25 years to repay
  • Make your payments bi-weekly or monthly

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

For home equity line of credit rate 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 pack of gum or 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 Home Equity Line of Credit with a Free Home Equity MasterCard Today.

Annual Percentage Rate. Rates for a Home Equity Line of Credit are as low as 2.50% APR for the first 12 months and Prime plus 0% thereafter. The rate using the current index plus margin would be 4% which is the lowest rate allowed. This rate applies to loans up to an 80% Combined Loan-to-Value ratio with a 25 year repayment term. APR is variable based on the Prime rate published in the Wall Street Journal. Prime rate as of 3/16/2017 is 4.00%. Interest and payments adjust annually with a 2% annual cap and a 14.9% lifetime cap. A 10 year draw period is included in the 25 year repayment term. For members whose owner occupied primary residence is located in New York State or Pennsylvania counties of Susquehanna, Bradford or Wyoming. SEFCU offers a rate reduction of 0.25% based on the published rate, margin, floor and lifetime cap for Active US Military and Veterans. Click here for more information. All loans are subject to credit worthiness. 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. Closing costs are estimated at $200-$600. Rates in effect as of 4/23/2017 and are subject to change at any time. Published rates are for new SEFCU loans.