Renovate… and More
If your home has grown in value, you can leverage the equity you’ve built by opening a Home Equity Line of Credit (HELOC). A HELOC loan will give you access to a sizable line of credit that you can borrow from when you need it, for almost any reason.
How a HELOC Works
- Withdraw funds with the ease of writing a check or transferring money between accounts
- Pay interest only on the funds you use, at rates lower than most credit cards
- Interest may be tax deductible2
How You Can Use a HELOC
- Renovate your home in stages over time
- Pay off high-interest credit cards or other debt
- Take care of unforeseen emergencies or unexpected expenses
Is a HELOC right for you?
There are important things to consider when borrowing against your home. We know the Fire Family, so trust our Real Estate Loan Consultants to help you reach a confident decision.
NMLS ID #649058. Home Equity Line-of-Credit only available in Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah and Washington.
For mortgages in all other states click here
1APR = Annual Percentage Rate. Based on 700 FICO Score and HCLTV of 80% or below. Only offered on a member’s primary, owner-occupied home, & is subject to credit approval. Rates effective October 4, 2021 & are subject to change. This is a variable rate loan. Home Equity Line of Credit (HELOC) limit of $300,000, if the 1st draw (30% of the limit) & 2nd draw (20% of the limit) totaling 50% of the HELOC limit are taken within the first 6-month period at a 3.750%, would result in a balance of $150,000 with an interest-only payment of $468.75. If 3rd draw (20% of the limit) occurs within the next 6-month period at a rate of 4.750% results a total balance of $225,000 with a total interest-only payment of $890.63. After 1 year, if all draws have been drawn, this would result a HELOC balance of $300,000 at a rate of 3.750% with a payment of $937.50. Rate adjustment review period: Six months. Rate cannot change by more than 1% (up or down) on any change date. The Max Rate Cap is 16.00%. These products are not insured by NCUA.
2Consult a tax advisor regarding the deductibility of interest.