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

* 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%. 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. Not all will qualify. Loans subject to collateral and credit qualifications. Membership eligibility required.

**AFCU $299 processing fee waived on AFCU Home Equity Line of Credit (HELOC) applications received, approved and funded between December 1 - 31, 2023. Third party fees still apply. Offer, rates and terms subject to change without notice. Not all will qualify. Loans subject to collateral and credit qualifications. Membership eligibility required.