Using Your HELOC
You can use a HELOC for virtually any purpose. Common uses include:
- Home Improvements and Repairs
- Unexpected Expenses or Emergencies
- Education Expenses
- Medical Bills
- Consolidating Debt
- Weddings or Other Significant Events
Is a HELOC right for me?
A HELOC is a great option for many homeowners. It offers flexibility, could provide tax benefits (please consult your accountant), and allows them to access a significant amount of credit. Ideally, the equity in your home could go up every year as home values rise, and your loan principal will decrease by making monthly payments. Keep in mind that market conditions could cause your home to lose both value and equity. It’s important to act quickly to capture the equity you may have today.
Here are some reasons why a HELOC may be right for you:
- Low Interest Rates: With rates as low as 9.00% APR, you could save on interest expenses from high-rate credit cards or loans.
- Return on Investment: Using a HELOC to renovate your home? Investing in your home is a smart idea because it could possibly increase your home’s value, which could help your home sell more quickly and for more money.
- Flexible Borrowing: You can use as much or as little money as you need and only pay back what you use.
- Quick and Easy: With our in-house equity experts ready to assist you, estimates of what you qualify for can be determined in as little as one business day. Plus, our online application makes applying a breeze.
- Streamlined Payment: Using a HELOC to consolidate debt? Simplify your finances by consolidating multiple payments to various lenders into one convenient payment per month.
- Credit Score Boost: Having high credit card balances relative to your limits can hurt your credit score. Reducing those balances by transferring that debt to a HELOC could improve your credit score over time.
Apply for a HELOC
Anyplace, Anytime, On Any Device!
Did you know that we offer a quick, convenient way to apply for a Home Equity Line of Credit? As a member, you can apply online or using your smartphone or tablet, any time of day or night, from anyplace you happen to be! No need to call a mortgage loan officer or drive to the credit union, unless you prefer one of those methods. You now have more options to apply for loans to fit with your lifestyle!
Home Mortgage Disclosure Act Notice
The HMDA data about our residential mortgage lending are available for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, and income of applicants and borrowers; and information about loan approvals and denials. Inquire at any office regarding the locations where HMDA data may be inspected.