Home Equity Line of Credit (HELOC)
Whether you’re planning to update one room or renovate your entire home, our Home Equity Line of Credit is perfect for all your spring and summer home improvement projects. You're able to borrow from your home as a line of credit, similar to borrowing with a credit card. You can borrow what you need, as you need it, up until you reach your credit limit.
What is a Home Equity Line of Credit?
A home equity line of credit is a revolving, variable-rate line of credit secured by your home’s equity/collateral. The amount you borrow is based on the difference between the amount you owe on your home and its market value. You can use the money whenever you need it, with no fixed schedule. If you’re approved, you can withdraw what you need, when you need it, and only make payments on the funds you withdraw.
Use your HELOC for:
- Remodeling or repairing your home
- Paying for educational expenses
- Taking a vacation
- Debt consolidation
- Updating your landscaping
- Personal start-up businesses
Home Equity Line of Credit Benefits
- Great low rates
- No closing/origination fees
- No required balance or annual fee
- Interest paid may be tax deductible*
- Only pay interest on the part that’s used
- Unused funds are available for later use
- Convenient access to your HELOC through Online Banking & Mobile Banking
- And more!
*Consult a tax advisor.
Make an appointment with our team in the branches!
Do you have questions about your account? Do you need to apply for a loan or a credit card?
If you schedule an appointment online, you can choose the time and date that works best for your schedule to come into a branch. You can avoid waiting in the lobby when you need financial help.
Home is where the heart is. It’s also where most people make their biggest investment. Make sure that you and your family is properly protected against fire, theft and other disasters with a homeowner’s policy from Solstice Insurance Agency. If you’re purchasing a new home or looking to save on your existing policy, just give us a call for a free quote. Consider covering your valuables, too, such as computers and other electronics, jewelry, antiques and artwork. It’s surprisingly affordable and will give you extra peace of mind.
Don't delay, get a quote now to find out how we can give you peace of mind and help you save on this valuable investment.
Or give us a call at 855-832-6336.
Solstice Insurance Agency is an affiliate of Seasons Federal Credit Union, is not an obligation of the credit union, is not guaranteed by SFCU, and not insured by NCUA.
*Annual Percentage Rate (APR) is effective as of 07/01/2019 and are subject to change. All rates are based on an evaluation of applicant credit. Borrower must take a minimum advance of $25,000 at closing. The introductory Annual Percentage Rate (APR) will be fixed at 2.99% for the first 12 billing cycles and will qualify for those with a credit score above 660 and no higher than 85% Loan to Value (LTV). Thereafter, the rate will be adjusted to reflect the rate at time of application based on credit score and loan to value. Additional credit score and Loan to Value (LTV) requirements may apply for promotional rate. No additional rate reduction is included during the period of the promotional discount. Existing Seasons FCU loans are not eligible. Terms and conditions may apply. Special promotional rate ends August 31, 2019.
**The minimum interest rate for a Home Equity Line of Credit is the Prime Rate 5.50% - 0.50% = a minimum floor of 5.00% APR and a maximum ceiling of 18% APR. HELOC rate shown is based on up to 80% LTV for all applicants with credit score 700 or higher.