Home Equity Lines of Credit

Let the equity in your home provide you with the financial help you need for home improvements, college tuition, family vacations, weddings, debt consolidation, and much more!

Your SFCU Home Equity Line of Credit is a revolving line of credit that offers a 10 year draw period. As you pay it back, the funds paid to principal are available to borrow again. Your payments are based on a 15 year repayment period which gives you enough time to manage your debt while still being financially responsible.

We look at the current appraised value of your home, less your current mortgage balance and that equals your equity in the home. We allow you to borrow up to 70% of that equity figure. The closing costs are taken care of by us as long as you keep the line of credit open for at least 3 years and borrow at least $10,000 with your initial advance on the line of credit.

Rates are based on the current prime rate as published in the Wall Street Journal and are subject to change quarterly on the first day of January, April, July and October. Your rate above WSJ Prime will depend on your credit scores. WSJ Prime plus 0% is available to those with scores over 700.  Please check out our loan rates page for current rates.

A complete description of the product and related disclosures will be provided to you at time of application. Please contact the credit union at 585-352-6890 for an application packet.