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Your Dream Home. From the lender you trust.


Building equity is one of the primary benefits of home ownership. Over time, your property can increase your wealth, but that money is only available when you sell or borrow against your home. When it comes to borrowing, Home Equity Line of Credit (HELOC) is a great and flexible option.

Home Equity Line of Credit Rate

$50,000 - $250,000

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Our Advantages

  • No points
  • No application fee
  • 10 year term
  • No pre-payment penalties
  • Interest is due only on outstanding balance

You may withdraw funds from your Home Equity Loan at any time, up to your approved limit. Funds are available over the length of the loan. You have the option of paying off the balance or redrawing up to your limit as often as you wish.

Frequently Asked Questions

What is HELOC?

A HELOC is a variable-rate line of credit that allows you to borrow and repay repeatedly, using the value of your home as collateral. You can use as much or as little of credit as you need, similar to a credit card.

How does it work?

A HELOC allows you to borrow and repay numerous times over a ten-year period. Getting money is as easy as writing a check or swiping a payment card—you don’t need to apply every time you need more funding. Pay off the balance when you’re able to do so, and borrow again if needed.

What can I use it for?

You can use HELOC to fund any number of your dreams: education, vacation or to pay off debt. But since you’re borrowing against your home, we suggest using the funds for projects that increase the value of your home.

How much can I borrow?

You can borrow up to 80% of your home’s value, less your remaining mortgage balance. For example, your home is worth $200,000 and you still owe $100,000 on your original mortgage loan. 80% of your home’s value is $160,000 minus the amount you still owe which is $100,000. Amount available to borrow is $60,000.

What if the interest rates rise?

HELOCs have variable interest rates, and if rates rise, your borrowing costs can increase. You can minimize interest costs by keeping a small balance (or zero balance) on your HELOC—only borrow when you need money.

The Annual Percentage Rate (APR) will be based on the Prime Rate plus a margin of 0.25%, with a maximum APR of 18.0%. The Prime Rate is the highest Prime Rate published in the Money Rates Table of the Wall Street Journal on the last business day of each quarter. Prime is a variable rate; as it changes, the APR on your account will also change. Credit is subject to approval. A HELOC is secured by a first or second mortgage lien on your home, which must be a one-to-four family residential real estate building. This type of credit is not available for modular homes, manufactured homes or cooperatives. The minimum line of credit amount is $50,000 and the maximum amount is $250,000. The maximum combined LTV is 80%. Flood and/or property hazard insurance may be required. Other restrictions may apply. The current Prime Rate is 8.500% resulting in a current APR of 8.750%. All Selfreliance FCU loan programs, rates, terms and conditions are subject to change at any time without notice.

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