HOME EQUITY LINE OF CREDIT
A Home Equity Line of Credit (HELOC) offered by EMUCU can be a powerful tool for paying for large expenses, including home improvements, college expenses, debt consolidation, and more! You have the flexibility to use your line of credit when and how you want.
A HELOC is a type of “revolving” credit account that has a credit limit, a variable interest rate, and is secured by the equity in your home. Your home’s equity is the difference between its market value and the amount you still owe on your mortgage.
- Completely fee-free
- No application fee
- No recording fee
- No credit report fee
- No closing fees
- No annual fee
- Borrow up to 95% of your home’s equity*
- Competitive interest rates
- Conveniently access your funds with a Visa check card, online banking tools, or checks
- May be tax deductible
- 10-year draw period followed by 15-year repayment period
- Loan payment protection coverage available to protect your family, assets and credit
Apply Now!
HOW TO APPLY
You can apply in multiple different ways:
For questions, please email [email protected]. EMUCU NMLS #712343. Do not provide personally identifiable information in your email.
- Easily through online banking or the mobile app by selecting 'Apply for a Loan' from the menu, and choosing the Home Equity Loan option
- By clicking "Apply Today" above
- Over the phone by calling 734-662-8200 or 800-968-8628
- At any of our branch locations
*Subject to credit approval; normal credit standards apply. Additional limitations, terms, and conditions apply, and are subject to change without notice. Annual fee and prepayment penalty is $0.00. Variable APR as low as 7.50%. Maximum APR is 13.75%. Credit limits up to $750,000. For new members, an EMUCU share savings account with a $5 deposit must also be opened and subject to credit approval. Property insurance required. Flood insurance may be required. Contact EMUCU at 866-923-2385or visit emucu.org for more information about credit costs and terms. NMLS #712343.