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  1. Home
  2. Home Equity Loans
  3. Home Equity Line of Credit (HELOC) Flex

Home Equity Line of Credit (HELOC) Flex

With an interest-only payment option for 10 years during the draw period, HELOC Flex gives you the ability to achieve more by leveraging the equity in your home.

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Why Choose HELOC Flex?

Our HELOC Flex allows you to borrow against the equity in your home and enables you to use the funds for anything. You'll repay with competitive rates and interest-only payments for the 10-year draw period followed by 20 years of principal plus interest payments. This means lower payments for the first 10 years.

No PSECU application fees or appraisal fees are required.

With your HELOC Flex, you’ll get flexibility in:

Amount

Borrow only what you need, as you need it.

Repayment Options

Enjoy interest-only payments for the 10-year draw period. Or, begin making principal and interest payments at any point during the 10-year draw period. No penalty for pre-payment on loan balance.

Access

Easily access your HELOC Flex anytime, anywhere, with 24/7 ability to advance funds through digital banking.

What’s a Variable Rate Advance and How Does it Work?

Variable-Rate Advances

Variable-rate advances are tied to the prime rate, which means rates and payments fluctuate with the market.

  • No minimum advance amount.
  • No limit on the number of variable-rate advances.
  • Make interest-only payments during the first 10 years, followed by a 20-year principal and interest repayment period. This means lower payments for the first 10 years.

Just Three Simple Steps to the Funds You Need

  • Determine how much you want to borrow to start (minimum required to apply for a line of credit is $5,000).

  • Access the money as needed for 10 years along with making interest-only payments for the same period of time. All advances are subject to available credit and can only be made up to your approved credit limit.

  • Repay the loan over a 20-year period of principal plus interest payments after the 10-year draw period ends.

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Current HELOC Flex Rates

Valid as of XX/XX/XXXX

Description APR* As Low As
HELOC Flex Variable Loan-to-Value up to 80% 7.50%
HELOC Flex Variable Loan-to-Value greater than 80% to 90.00% 8.00%

Rates "as low as" 7.50% 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 a variable advance(s) will be equal to the WSJ Prime Rate as published in the last issue of the Wall Street Journal on the last day before the current calendar month or the WSJ Prime Rate combined with a margin. For loan-to-value (LTV) up to 80%, the APR for a variable advance(s) is equal to the WSJ Prime Rate. For an LTV greater than 80% up to 90%, the APR for a variable advance(s) is WSJ Prime Rate combined with a margin. There is a 10-year advance period with a 20-year amortized repayment period based on the principal balance when the repayment period begins. There is no required minimum advance amount for a variable-rate advance and no limit of advances. All advances are subject to available credit and can only be made up to your approved credit limit. The minimum line of credit amount is $5,000. The monthly payment may vary. The maximum APR is 18%.

*APR denotes Annual Percentage Rate.

Compare Home Equity Products

View our Home Equity page to compare our equity products.

Compare Products

Browse Common Questions

  • There are no PSECU application fees for equity loans or lines of credit, 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. Late fees may also apply.

  • Great news: You can use your home equity for anything! Home renovations are a common use of equity funds, but your home’s equity could help to pay for education expenses, debt consolidation, medical bills, emergency funds, and more. You can even use it to pay off a home equity loan or mortgage from another financial institution. The possibilities are endless.

  • You may refinance your home equity loan or line of credit by applying online. If you’re refinancing a home equity loan or line of credit with a new one, you’re required to borrow an additional $5,000 above your current equity loan balance.

  • Accessing your available cash is easy! Simply log into your account and transfer money from your line of credit into your checking or Regular savings share.

Back to Home Equity Loans
Explore More:
  • HELOC Plus
  • Real Estate Equity Loan
  • Compare Home Equity Products
  • Mortgages
Achieve More with PSECU
More gimmes + less gotchas = modern digital banking. Become a member today, and let your money live in the 21st century.
  • HELOC Plus
  • Real Estate Equity Loan
  • Compare Home Equity Products
  • Mortgages

Have Questions? We're Here to Help

Need to talk to us directly? Call (800) 237-7328 or send an inquiry.

Resource Center

Personal finance resources from PSECU are free financial literacy resources for adults. Explore our free financial education resources on money management. Knowledge is power!

What Is Digital-First Banking?

Digital banking means accessing banking products and services via a bank or credit union's website or mobile app. However, digital-first banking with PSECU means so much more.

Support Center

The PSECU member support center is a helpful source of information for everything from the PSECU routing number to ordering checks, checkbook covers, and check registers.
Achieve More with PSECU

Achieve More with PSECU

More gimmes + less gotchas = modern digital banking. Become a member today, and let your money live in the 21st century.

Become a Member
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