Home Equity Line of Credit (HELOC)
Are you looking for a different loan option? Home Equity Line of Credits (HELOCs) are a great option if you need to borrow money but aren't sure how much you need. You could qualify for a large line of credit with a low rate to help you affordably achieve your goals.
Up to 100% combined loan to value
You may receive up to 100% combined loan to value for your home equity lines of credit so you can afford your goals better.
Loan amounts up to $250,000
You could qualify for a loan up to $250,000 to better help you afford those larger projects.
Unlimited draws per year
Get an unlimited number of draws from your line of credit so you can access your funds easier.
No prepayment penalties
Pay off your loan sooner! You don't have to wait for the full term of the loan in order to avoid a penalty fee.
Local underwriting & servicing
Have greater confidence knowing your line of credit approval and servicing is done locally.
Use for any purpose
That's right, you can use your home equity line of credit for almost anything you want, not just home improvements.
Up to 100% combined LTV
At other providers, you may only receive up to 80% of your home's equity for a line of credit. Now you can take advantage of a higher percentage of your home's value in order to better finance your needs.
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1
Complete an application
Apply for home equity lines of credit online or in-person at one of our branch locations.
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2
Complete a home appraisal
If necessary for your specific application, have your home appraised to determine its value.
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3
Get approved and use funds
Once approved, you can start using your line of credit to pay for a variety of expenses.
Set up a meeting!
A credit union with a focus on you
Why choose us?
When you join SCCU, it's the start of something new. You can trust our ability to provide quality financial products and services that are proven with our 90-year legacy. With us, you are not just another number, you are an individual.
Your home's equity may offer a large line of credit that will help you achieve goals at affordable rates!
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Disclosures
*APR = Annual Percentage Rate. All loans are subject to approval. Membership eligibility required. Rates and terms subject to change at any time and without notice. Additional loan programs may be available. Homeowner’s insurance required. Home equity lines of credit are variable-rate loans. Rates are as low as 5.50% APR with a maximum of 18.00% APR and are based on an evaluation of credit history, CLTV (combined loan-to-value) ratio, loan amount and occupancy, so your rate may differ. For loan amounts up to $250,000, closing costs that members must pay typically range between $300 and $2,750. An itemization of fees can be requested. Minimum initial draw is $3,000. Rates are subject to change – information provided does not constitute a loan commitment.
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