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HELOC - Home Equity Line of Credit

AFCU offers a Home Equity Line of Credit for primary residences and investment properties.

Primary Residence HELOC:

AFCU’s variable-rate Home Equity Line of Credit (HELOC) offers one of the lowest rates available in today's market. AFCU’s Primary Residence HELOC is an ideal source of funds for members who want to take out money for a special purpose (home improvements, remodels, debt consolidation), but do not want to touch their first mortgage.

  • 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
  • Competitive Rates*
  • 10 year draw period, and payments are based on a 20 year repayment period from last advance.
  • Maximum Combined Loan to Value (CLTV) Ratio 80%
  • No annual fees
  • Rates as low as 7.25% APR* variable rate, based on creditworthiness
  • Closing costs vary by state and loan amount, but generally range from $500 to $2,500
  • Property insurance required

Apply Now 

To speak with a knowledgeable mortgage team member, call 800-795-2325, option 7

Investment Property HELOC:

AFCU offers a variable-rate Home Equity Line of Credit (HELOC) product specifically for your investment properties. An AFCU Investment Property HELOC is a flexible way to finance property improvements that can help you generate rental income and increase your property's sales price. You can also tap into the equity you've built to achieve other financial goals.

  • 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*
  • Investment properties only
  • Borrow funds as needed: make advances via AeroAccess Online or Mobile Banking, phone, or in-person
  • Competitive Rates*
  • 10 year draw period, and payments are based on a 15 year repayment period from last advance.
  • Maximum Combined Loan to Value (CLTV) Ratio 80%
  • No annual fees
  • Rates as low as 7.25% APR* variable rate, based on creditworthiness
  • Closing costs vary by state and loan amount, but generally range from $500 to $2,500
  • Property insurance required

Apply Now 

To speak with a knowledgeable mortgage team member, call 800-795-2325, option 7

* The Annual Percentage Rate (APR) is based on the value of an Index. The Index is the Prime Rate as published in the Wall Street Journal. To determine the APR that applies to your HELOC, a margin is applied to the Index value in effect as of each adjustment date (rate changes). The initial APR is set forth in your Agreement. Rate changes occur on April 1 and October 1 of each year and are based on the Prime Rate on March 1 and September 1, respectively. Assuming your rate is 3% at opening, your maximum rate may not exceed 9% and your minimum rate will never be lower than 2% for residential loans or 3% for investment loans. The rate will not exceed the 18.00% maximum rate that a federal credit union can impose. Rates and terms are subject to change without notice. Mortgage lending in all 50 United States and District of Columbia (and Puerto Rico, Guam, and the U.S. Virgin Islands) with the exclusion of a Home Equity Line of Credit (HELOC) in the state of Texas. Not all will qualify for a low or the lowest rate. Loans subject to collateral and credit qualifications. Membership eligibility required.

 

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