Home Equity Line of Credit

A Home Equity Line of Credit (HELOC) is one of the most convenient lines of credit that you can have. Forget the ridiculous fees and charges that some credit card companies hit you with, and forget about borrowing a large amount of money all at once that you may not need or use! With HRCU’s Home Equity Line of Credit, you apply and get approved for a maximum borrowing amount,  but only draw from your HELOC when you need it. To draw from your HELOC, just call and we’ll transfer the amount you request directly to your checking account! You can literally draw on your HELOC for almost anything – whether it is home renovations, tuition, new car, or a dream vacation – it’s your call!

HRCU offers all of the following features on HELOC’s:

  • No application fee.
  • No credit report fee.
  • Low appraisal fee.
  • No pre-payment penalties.
  • Available amount to borrow is 80% of appraised value less the outstanding balance of first mortgage.
  • A five (5) year draw period.
  • Extended re-payment terms to 15 years.
  • Availability to purchase Smart Choice Loan Protection Insurance including life, disability and unemployment.
  • Competitive local interest rate.
  • Flexible loan terms.
  • Convenience of direct deposit, payroll deduction and automatic transfer.
  • Interest is often tax deductible.

Call or stop in TODAY to ask for current rates and to find out what your payment would be for the amount of money you need!


*HELOC’s are a variable interest rate and applies to an 80% loan-to-value (LTV) Home Equity Loan. The applied interest rate will equal the major bank Prim Rate plus 0.50% as published in the Wall Street Journal on either January 15th or July 15th of the last calendar period. The interest rate applied cannot increase or decrease more than 2.50% at each potential adjustment. The minimum APR (Annual Percentage Rate) is 4.00% and the maximum rate can never exceed 18.00%. The minimum loan amount is $10,000 (credit line) and the minimum advance is $500. Monthly payment may vary. A five year advance period with up to a fifteen year re-payment term. HRCU is federally insured by the National Credit Union Administration. Equal Opportunity Lender.