Home Equity Line of Credit

Fund right-now needs without pulling from future finances. That’s what you get when you put your home’s hidden value to work.

How Our Homeowners Achieve More.

More choices

Borrow only what you need, only when you need it.

More simplicity

Like you, we’re not into complicated, lengthy application processes.

More cha-ching

Zero application fees, competitive rates, and even potential tax benefits.*

HELOC 101

From home improvements to debt consolidation, this low-rate loan option provides flexible access to cash, right when you need it most. In other words, your to-do list just got more doable.

The Details

  • Minimum line of credit amount of $5,000
  • No application or appraisal fees
  • Ability to borrow up to 90% of the appraised value (80% for rental properties), less any liens on the property being mortgaged
  • 10-year advance (draw) period (five-year advance period for rental properties)
  • 20-year repayment term (10-year repayment on rental properties) from the date of the last advance
  • Variable interest rate that offers affordable payments

Current Rates

Valid as of 11/28/2021 8:59 AM EST 
Description APR*
Home Equity Line of Credit Loan-to-Value greater than 80% to 90.00% 3.75%
Home Equity Line of Credit Loan-to-Value up to 80% 3.25%

HOME EQUITY LINE OF CREDIT: 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. For loan-to-value (LTV) up to 80%, the variable interest rate is equal to the prime rate. For a LTV greater than 80% up to 90%, the variable interest rate is prime rate plus .5%. There is a 10-year advance period with a 20-year repayment term (five-year advance period with a 10-year repayment on rental properties) from the date of the last advance. The minimum line of credit amount is $5,000. The monthly payment may vary. The maximum Annual Percentage Rate (APR) is 18%. The minimum APR is 3%.

*APR denotes Annual Percentage Rate

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FAQs

Are there fees associated with PSECU equity loans?

There are no PSECU application fees for equity loans, but third-party fees may be charged. For example, there may be third-party notary fees since PSECU requires the execution of the loan in front of a Notary Public. You may also incur fees if the Real Estate Equity Loan is being used to purchase land that will be used to build your primary residence. (PSECU requires property insurance.) For information on this type of equity, please call 800.237.7328, extension 3817. Late fees may apply.

Can I refinance my PSECU equity loan?

You may refinance your Real Estate Equity Loan, Home Equity Line of Credit or HELOC Plus by applying online. If you’re refinancing a Real Estate Equity Loan with a new one, you’re required to borrow an additional $5,000 above your current equity loan balance.

How can I advance my Home Equity Line of Credit or HELOC Plus?

You have two options:

  1. Log into online banking, click on "Move Money," and transfer funds from your line of credit to your desired share.
  2. Speak to a Member Service Representative by calling 800.237.7328 Monday through Friday 8 a.m. to 9 p.m., and Saturday, 9 a.m. to 5 p.m. (ET).

*PSECU representatives cannot give tax advice. Please consult a qualified tax advisor to determine if interest may be tax deductible.