Home Equity Line of Credit Plus

Achieve more financial flexibility. Our HELOC Plus puts you in control, providing you with the money you need now and the peace of mind you’ll want later.

What can a PSECU HELOC Plus offer you?

When it comes to your finances, you’re the expert. Our HELOC Plus, with no PSECU application or appraisal fees, lets you build the loan you need, offering you flexibility in:

hand receiving cash

Amount

Borrow only what you need. Ability to borrow up to 90% of the appraised value (80% for rental properties), less any liens on the property being mortgaged.

percentage

Rate

Choose a fixed or variable rate advance.

smart devices

Access

24/7 ability to advance funds through our digital channels.

Choose the best advance type for you.

Fixed advances

Fixed advances offer peace of mind, allowing you to lock in a rate for the funds you advance.

  • $5,000 minimum advance
  • Limit of three fixed advances with outstanding balances

Variable advances

Variable 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 advances

Just three simple steps to the funds you need.

step1

Determine the amount

Determine how much you want to borrow (Minimum line of credit is $5,000)

step2

Advance the funds

Advance (draw) from the loan as needed for 10-years (5-years for rental properties). All advances are subject to available credit and can only be made up to your approved credit limit.

step3

Repay

Repay the loan over a 20-year period (10-years for rental properties) from the date of the last advance

Current Rates

Valid as of 12/3/2021 8:47 PM EST 
Description APR*
HELOC Plus Variable Loan-to-Value up to 80% 3.25%
HELOC Plus Variable Loan-to-Value greater than 80% to 90.00% 3.75%
HELOC Plus Fixed Loan-to-Value up to 80% 3.75%
HELOC Plus Fixed Loan-to-Value greater than 80% to 90.00% 4.25%

HELOC Plus: The APR for variable advance(s) or fixed advance(s) will be equal to the Prime Rate as published in the last issue of the Wall Street Journal on the last day of 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. For LTV up to 90%, the APR for fixed advance(s) is equal to the Prime Rate plus a margin. Fixed Advance(s)are determined at the time of the advance. 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. The minimum line of credit advance for a fixed rate advance is $5,000 with a limit of three fixed rate advances outstanding at one time. 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%. The minimum APR is 3%.

*APR denotes Annual Percentage Rate

View our Home Equity page to compare our three equity loan products.

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).