Variable-Rate Home Equity Line of Credit

Overview

Easy meets Flexibility

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

Home with Money coming out

Take up to 25 years to repay

Features & Benefits

Competitive rates

  • Borrow up to 90%* of the equity in your home for lines of credit $350,000 and under.
  • 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 10 years of origination
  • Take up to 25 years to repay
  • Make your payments bi-weekly or monthly
coins and dollar sign

 


Rates

Variable-Rate Home Equity Line of Credit***

Term Introductory APR** (as low as) Standard APR** (as low as)
25 Years 4.00% for first 12 months Prime -0.50% after first 12 months- As of 11/16/22, that equates to 6.50%

Compare

See which is best for you

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 $10,000 to $500,000.*
  • Access your credit line by transferring funds, using your SEFCU Home Equity Mastercard®, or writing a home equity check

 

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 $10,000 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 Variable-Rate Home Equity Line of Credit today

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Financial Education

Calculator

Variable-Rate Home Equity Line of Credit

Access cash over time

Take advantage of a low, variable rate

Draw on the line of credit as needed for 10 years

 

View HELOCs

 

Products, services, terms, and conditions are subject to change without notice. All loans are subject to creditworthiness. SEFCU membership is required.
*The appraised value multiplied by 90%, less the remaining balance on any existing mortgage for loans $350,000 and below. Other rates are available up to 90% CLTV and loans closing in first or second lien position. Other rates are available up to 100% CLTV for loans closing in second lien position with a maximum loan amount of $125,000. For loan amounts greater than $350,000 up to $500,000, the maximum CLTV is 75% for loans closing in first lien position and 65% for loans closing in second lien position.
**Annual Percentage Rate. The Annual Percentage Rate (APR) listed is estimated based on first lien position and a maximum combined-loan-to-value (CLTV) of 50%, and 25-year repayment.  Rates for a Home Equity Variable Rate Line of Credit are as low as 4.00% APR for the first 12 months and Prime minus 0.50% thereafter. The rate using the current index minus the margin would be 5.75%. The floor is 3.00%, which is the lowest rate allowed. Your actual APR and floor may be higher based on multiple factors along with your credit rating in relation to your loan request.  Other rates are available up to 90% CLTV and loans closing in first or second lien position. Other rates are available up to 100% CLTV for loans closing in second lien position. For loan amounts greater than $350,000 up to $500,000, the maximum CLTV is 75% for loans closing in first lien position and 65% for loans closing in second lien position. For qualified vacation homes, the maximum CLTV is either 50% or 80% depending on your credit rating in relation to your loan request. APR is variable based on the Prime rate published in the Wall Street Journal. Prime rate as of 11/16/22 is 7.00%. 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. Rates in effect as of November 28, 2022 and are subject to change at any time.
***All loans are subject to creditworthiness. Title insurance may be required and is paid by the borrower. Closing costs paid by SEFCU, on behalf of the borrower, will be paid on loan amounts up to and including $250,000 and will be 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 $300 and $4,000 but depending on location and other factors it could be higher or lower. For loan amounts greater than $250,000 all closing costs will be paid by the borrowers at the time of closing. Product is available for members whose owner-occupied primary residence located in New York State or Pennsylvania counties of Susquehanna, Bradford or Wyoming. Published rates are for new SEFCU loans. For the Variable-Rate Home Equity Line of Credit, the minimum loan amount is $10,000 and the maximum loan amount is $500,000. The maximum loan amount for qualified vacation homes is $350,000.