Make Your Home Work for You.
Make your home's equity work for you with a home equity line of credit (HELOC) from CCU to make home repairs, consolidate debt, take a vacation - use your equity for almost any purpose! Our HELOC is an adjustable rate, revolving line of credit that uses your home as collateral.
Click 'Meet Our Team' to apply for a HELOC today!
Benefits:
- Enjoy local servicing by your CCU Mortgage Loan Officer
- Flexible access to funds
- Many possible uses
How does a HELOC work?
By using the equity you have in your house as collateral, you can borrow money at a lower interest rate. To know how much equity you have, take the value of your home minus the amount you owe on your mortgage.
With a line of credit, you can draw as much money as you need, repay it and borrow from your HELOC again and again during the draw period. After the draw period is done, the HELOC enters a repayment period. You only pay interest on the amount you borrowed.
Discuss with your tax advisor to see if the interest you pay on your HELOC is tax deductible.
What can I use my home's equity for?
Almost anything! With the interest rate often being lower than other types of loans, many people opt to use their equity to make large purchases, education expenses, home renovations or even keep it as an emergency fund and use it when you need it.
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A low rate, no fees, and great rewards!
Compare our card to those of other financial institutions and see the difference!