Home Equity Line Of Credit

A Home Equity Line of Credit (HELOC) gives you ongoing access to your loan money. As you repay the borrowed amount, you can use it as often as you like during the initial five-year draw period. The interest may be tax deductible; check with a qualified tax advisor.

Features Include

  • Borrow up to 90% of the appraised value, less any liens on the property being mortgaged
  • PSECU must be 1st or 2nd lienholder
  • Five-year advance period with a twenty-year repayment term (ten-year repayment on rental properties) from the date of the last advance
  • Minimum credit line amount $5,000. Minimum advance $500.
  • Interest rate may vary monthly

Types of Properties

Acceptable Properties

  • Currently owned 1, 2, 3 or 4-unit properties located in Pennsylvania
  • Condominiums or townhouses
  • Vacation homes
  • Doublewide mobile homes built after June 1976, on permanent foundation, title retired
  • Residential investment properties

Unacceptable Properties

  • Commercial properties
  • Properties located outside of Pennsylvania
  • Properties with cesspools, cisterns, spring water
  • Properties with gravity heat
  • Properties located in an industrial zoned area
  • Time-share properties
  • Singlewide mobile homes
  • Properties owned by a trust as identified on the deed
  • Properties listed for sale within the last 6 months
  • Properties with gas, oil or coal mining
  • Properties with certain business operations

Rates valid as of 2/19/2017 6:58 AM

DescriptionAPR*
Home Equity Line of Credit Loan-to-Value up to 80% Calculate3.75%
Home Equity Line of Credit Loan-to-Value greater than 80% to 90.00% Calculate4.25%
5 Year Equity Loan-to-Value up to 80% Calculate4.115%
5 Year Equity Loan-to-Value greater than 80% to 90.00% Calculate4.615%
10 Year Equity Loan-to-Value up to 80% Calculate4.865%
10 Year Equity Loan-to-Value greater than 80% to 90.00% Calculate5.365%
*APR denotes Annual Percentage Rate

Annual Percentage Rate. HOME EQUITY LINE OF CREDIT: The 3.75% variable APR applies for loan-to-value (LTV) up to 80%. For a LTV greater than 80% up to 90%, the variable rate is 4.25% APR. There is a five-year advance period with a twenty-year repayment term (ten-year repayment on rental properties) from the date of the last advance. The minimum line of credit amount is $5,000. The minimum advance amount is $500.The monthly payment may vary. The variable interest rate will be equal to the prime rate or prime rate plus .5% as published in the last issue of the Wall Street Journal on the last day before the most recent full calendar month. The maximum APR is 18%. The minimum APR is 3%.

REAL ESTATE EQUITY LOAN: The 4.115% fixed APR applies for a 60-month term and LTV up to 80%. For a LTV greater than 80% up to 90% the fixed APR is 4.615% for 60 months. The 4.865% fixed APR applies for a 120-month term and LTV up to 80%. For a LTV greater than 80% up to 90% the fixed APR is 5.365% for 120 months.