Is a HELOC right for you?
Program Highlights:
At Community Credit Union, we allow you to borrow up to 80% of your home's equity to finance your projects or expenses.*
HELOC funds of up to $400,000 are available.
Primary, secondary, and investment properties are eligible.
Minimum credit line is $25,000.
Scroll down to learn more about how a HELOC can unlock new possibilities for your property and finances. If you'd rather speak with someone directly, contact Jennifer Siegler (jsiegler@myccu.org).
Is a HELOC right for you?
Program Highlights:
At Community Credit Union, we allow you to borrow up to 80% of your home's equity to finance your projects or expenses.*
HELOC funds of up to $400,000 are available.
Minimum credit line is $25,000.
Primary, secondary, and investment properties are eligible.
Interest rates are calculated based on credit worthiness and other factors.
Scroll down to learn more about how a HELOC can unlock new possibilities for your property and finances or speak with a Community Credit Union team member to get started.
What is a HELOC?
A home equity line of credit (HELOC) is a flexible financial tool that allows you to borrow funds against the equity in your home. It operates similarly to a credit card, giving you access to a line of credit that you can draw from as needed.
How Does It Work?
Once you are approved for a HELOC, you can borrow funds up to 80% of your home's equity. You only pay interest on the amount you borrow, and you can use the funds for various purposes, such as home renovations, travel, debt consolidation, and more.
Why Choose a HELOC?
- Enjoy flexibility, use the funds as needed.
- Lower interest rates compared to other forms of credit.
- Potential tax benefits: you may be able to deduct interest payments.**
What Can You Use a HELOC For?
Home Improvements
Debt Consolidation
Travel
Ready to turn your equity into cash?
If you want to unlock the potential of your home with a HELOC from Community Credit Union, simply apply now or contact Jennifer Siegler (jsiegler@myccu.org) to learn about terms, rates, and eligibility.
Interest rates are calculated based on credit worthiness and other factors.
Alternatives to a HELOC
If you're looking for more ideas, alternative financing options may include personal loans, home equity loans, or refinancing your mortgage. Our team can help you evaluate the best solution based on your financial goals and circumstances. Give us a call: 978-968-2200.
Disclaimers:
*Applicant must meet membership requirements. Rates subject to change without notice. Home equity line of credit (HELOC) is subject to credit approval. Other terms and conditions may apply. If you lend out of state, consult with Community Credit Union about your property before applying. Interest rates are based on creditworthiness and other factors. High-credit-loan-to-value (HCLTV) ratio is 80%. Applicant must meet our debt-to-income (DTI) requirements, which is a maximum of 50%. Minimum credit score is 620. Minimum credit line of $25,000. Maximum credit line of $400,000. If the credit line requested is over $250,000, a full appraisal is required and is charged to the borrower. Appraisal fees will vary. The minimum draw is $300.
**Consult your tax advisor regarding the deductibility of interest.
