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.
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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 06/3/2023 3:06 AM EDT 
Description APR* As low as
Home Equity Line of Credit Loan-to-Value greater than 80% to 90.00% 8.75%
Home Equity Line of Credit Loan-to-Value up to 80% 8.25%
Rates "as low as" 8.25% APR assumes excellent creditworthiness; your rate may differ from the rate(s) shown here. Rate and loan amount subject to credit approval. The APR for variable advance(s) will be equal to the Prime Rate as published in the last issue of the Wall Street Journal on the last day before the current calendar month or the Prime Rate plus a margin. For loan-to-value (LTV) up to 80%, the APR for variable advance(s) is equal to the Prime Rate. For an LTV greater than 80% up to 90%, the APR for variable advance(s) is Prime Rate plus a margin. There is a 10-year advance period with a 20-year repayment period (5-year advance period with a 10-year repayment period on rental properties) from the date of the last advance. There is no required minimum advance amount. Advances can only be made up to approved credit limit and to extent there is available credit. The minimum line of credit amount is $5,000. The monthly payment may vary. The maximum APR is 18%. 

*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 "Transfer," 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.