Home Equity Line of Credit
Home Equity Line of Credit - HELOC
Use the equity in your home to get a low-rate Line of Credit from Washtenaw Federal Credit Union. Members can use these funds for any purpose from home improvements to college tuition, debt consolidation or even a dream vacation. Your credit limit replenishes as you make payments, and funds are ready when you need them.
Applying for a HELOC
If you are interested in applying for a Home Equity Line of Credit, we suggest our members contact us or apply online. A few things to keep in mind:
- No Application Fee
- No Annual Fee
- No Closing Costs
- $175 appraisal fee is refunded at closing if the loan is approved and consummated.
- Variable rate based on the Prime Rate with 0% Margin. Rate adjusts quarterly.
- There is a floor rate of 5.00% currently in effect.
- Interest may be tax deductible.
- Up to 95% Loan-To-Value available.
- 10 year draw period, followed by 10 year repayment period.
- Low monthly payments based on current balance.
- Advances available via online transfer, convenience checks, or in person at WFCU.
We invite you apply online, call us at (734) 484-5100 or visit us at one of our local Washtenaw County credit union branches to discuss Home Equity Line of Credit options with one of our experts.
Please Note: interest rates for Home Equity Line of Credit are based on credit and other factors.