HELOC - Home Equity Line of Credit

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, pay some bills, take out some money for a special purpose (education, 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:

• Borrow from $20,000 to $200,000 (depending on credit, income and property qualifications)
• $5,000 initial advance required; $500 minimum thereafter
• Borrow funds as needed: make advances via AeroAccess Online or Mobile Banking, phone, or in-person
• Competitive Rates and low costs*
• 10 year draw period, and payments are based on a 20 year repayment period
• Minimum rate – 2% APR*
• Maximum rate – 6% over initial rate
• Maximum Combined Loan to Value Ratio (CLTV) 80%
• No annual fees
• Rates as low as 4.50% APR* available, based on creditworthiness 

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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.