3 Options for Home Equity Loans
HCU offers three home equity products to help fit our members' financial needs.
Instant Equity Loan
This is a line of credit loan that is fixed for the first 5 years then adjusts semi-annually (January and July) thereafter.
Features & Benefits
- Line of Credit
- 1st or 2nd Mortgage
- up to 90% loan to value
- Rate lock for first 5 years
- After the 5th year, the rate will adjust semi-annually
- 20 year amortization
- No annual fee
- $100.00 processing fee
Current Rates | Apply Online
Prime Line Equity Loan
This line of credit loan can adjust monthly according to Prime.
Features & Benefits
- Line of Credit
- 1st or 2nd Mortgage
- up to 90% loan to value
- Adjustable rate at Prime
- Adjusts last day of each month (if Prime changes)
- 20 year amortization - 10 year draw period
- No annual fee
- $100.00 processing fee
Current Rates | Apply Online
Closed End Home Equity Loan
For this type of home equity loan, it is a fixed loan amount with a fixed term (60, 84 or 120 months). Rate is based on the term, LTV and credit criteria.
- Fixed amount borrowed
- 1st or 2nd Mortgage
- up to 90% loan to value
- Term of 60/84/120 months
- No annual fee
- $100.00 processing fee
Current Rates | Apply Online
Calculate your payment
All home equity loans and lines of credit are subject to credit approval.
In some circumstances, a full appraisal may be required. In those cases, the borrower will pay the full appraisal fee.