Home Equity Line Of Credit (HELOC)

Home Equity Line of Credit is rated 4.7 out of 5 by 20.
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Each time you make a mortgage payment, you're making an investment. Now it's time to get something back. With our low-rate Home Equity Line of Credit (HELOC), you have flexible access to cash with minimal fees. Because you borrow as little or as much as you need from your line of credit, a HELOC is a great tool for financing your next home improvement project, paying for college, or even checking something off your bucket list.

Why Choose Us

  • Minimum line of credit amount $5,000. Minimum advance $500.
  • No application fee
  • No appraisal fee
  • Use it when you need it for up to five years

How Our Home Equity Line of Credit Works

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 professional.

Your payment is based on the amount you transferred or "advanced".

Lending Terms

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

Rates valid as of 6/19/2018 6:20 PM

DescriptionAPR*
Home Equity Line of Credit Loan-to-Value up to 80% Calculate4.75%
Home Equity Line of Credit Loan-to-Value greater than 80% to 90.00% Calculate5.25%
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

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

HOME EQUITY LINE OF CREDIT: The 4.75% variable APR applies for loan-to-value (LTV) up to 80%. For a LTV greater than 80% up to 90%, the variable rate is 5.25% 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 current calendar month. The maximum APR is 18%. The minimum APR is 3.00%.

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.

Rated 4 out of 5 by from Very fast and easy HeLoc The HELOC was very useful to paydown high interest debt
Date published: 2018-05-01
Rated 5 out of 5 by from This was a very easy happening! Everyone at PSECU was overly helpful. They were overly helpful when I called back with questions. I was confident as I worked with them. Thank you!
Date published: 2018-04-03
Rated 5 out of 5 by from Home Equity line of credit Good interest rate. Easy to upload needed documents into application.
Date published: 2018-03-23
Rated 5 out of 5 by from Exceptional Service Every time I had to contact PSECU with an issue it was always taken care of quickly and politely. Best banking I've done ever!
Date published: 2018-03-10
Rated 5 out of 5 by from Great Product The rate was very good. The ability to use the money as I need to and replace it as I can while still keeping access to it is very helpful.
Date published: 2018-02-06
Rated 5 out of 5 by from Our Home Equity Loan Saved us tons on our monthly bills and able to do some home improvements.
Date published: 2017-12-01
Rated 5 out of 5 by from Quick and easy! I've had 2 lines of credit with PSECU. The process is so quick and easy. I wouldn't consider using another bank for another line of credit in the future.
Date published: 2017-10-25
Rated 5 out of 5 by from Love PSECU!!! Very straight forward process! Always a pleasure! Great rates!
Date published: 2017-10-01
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