HELOC - Home Equity Line of Credit
HELOC Holiday Offer: AFCU is waiving the $299 processing fee on HELOC applications submitted, approved and funded in December 2023!**
AFCU’s variable-rate Home Equity Line of Credit (HELOC) offers one of the lowest rates available in today's market. AFCU’s HELOC is an ideal source of funds for members who want to do some home improvement, consolidate debt, take out some money for a special purpose (education, wedding, medical costs, etc.), or have a “just in case” reserve but do not want to touch their first mortgage.
Features of a Home Equity Line of Credit:
-
NEW! Borrow from $20,000 to a maximum of $400,000
(depending on credit, income and property qualifications)
-
$5,000 initial advance required; $500 minimum thereafter
-
Mortgage Lending in ALL 50 United States and the District of Columbia
-
Primary residences only
-
Borrow funds as needed: make advances via AeroAccess Online or Mobile Banking, phone, or in-person
-
$299.00 Processing Fee
-
Competitive Rates*
-
10 year draw period, and payments are based on a 20 year repayment period from last advance
-
Minimum rate – 2% APR*
-
Maximum rate – 6% over initial rate up to max 18%
-
Maximum Combined Loan to Value (CLTV) Ratio 80%
-
No annual fees
-
Rates as low as 8.25% APR* variable rate available, based on creditworthiness
-
Closing costs: 0.5% - 1.00%, depending on loan amount
-
Property insurance required
Apply Now Watch HELOC Webinar
To speak with a knowledgeable mortgage team member, call 800-795-2325, option 7