Home Equity Line of Credit

"A big pile of money right now? Don't need it. Getting my hands on some cash now and then to make life a little easier? Yes, that'll work."
New member? Apply here

Flexible funding you can use for any reason at all

Cars and computers break down, college tuition costs go up, and that cruise you've been planning with your Pittsburgh friends? Well, you could use a break. With a Clearview home equity line of credit, you can pay for all these things, and a lot more. We give you easy access to a low-cost line of credit that you can tap into time and again to pay the bills, buy the things you need, and simply make yourself a little happier now and then.
  • Low introductory rate of 1.99%1
  • No application fees or annual fees
  • Closing costs refunded up to $2002
  • Credit limit varies depending on the equity you have in your Pennsylvania home
  • No restrictions on use of funds, can even be used to consolidate higher-interest loans
  • Access money whenever you need it through digital banking or with checks
What's included?
  • Low introductory rate
  • Refund on closing costs
  • Fast, easy access to money
1.99% APR*
Introductory home equity line of credit
*Rates as low as
View rates go to the home equity loans rate page

Things to know before you apply for a home equity line of credit

How does a home equity line of credit work?

​A home equity line of credit (also referred to as a HELOC) is an open revolving form of credit that’s secured by the paid value of your home. Typically homeowners can apply for a home equity line of credit with up to 85% of their home’s equity, or the difference between what’s currently owed on their home loan and the market value of it. Home equity lines of credit usually have better interest rates and more flexible repayment terms than any other loan type. Unlike traditional loans, funds are withdrawn as needed rather than being received in a lump sum (similar to a credit card).

It's also worth noting that you may have a "draw" period, during which time any available funds can be accessed, generally ranging from 5-10 years. Once that draw period has concluded, any withdrawn funds will need to be repaid, either immediately or within a set time frame. Most often, these funds are used to pay for home improvement projects, but they can be spent however you choose — a wedding, vacations, adoption, debt consolidation, and more.

How much equity is in my home?

To figure out how much equity you have in your home, take a look at your most recent mortgage statement and find the outstanding balance. Subtract the amount you owe from your home's market value and the number you get will give you an idea of available equity. You can also use our home equity calculator to determine this figure!

What are the advantages of credit union HELOCs?

Unlike larger financial institutions, we're non-profit and don't have shareholders. As a result, credit union HELOCs are generally offered with more flexibility when it comes to payment terms as well as lower interest rates. We also take pride in the personal relationships we build with our members. After all,  our vision is to help you enjoy a better life.

1 Rate discount is based on a 6-month introductory term with initial advance of $10,000 in new funds. The introductory rate will be effective for 6 months from closing date. After 6 months, the APR will be indexed as low as Prime Rate–.75% based on creditworthiness and loan-to-value, with a floor of 2.99% APR. Rate includes .25% discount if you have an active Absolute Checking Account. Rate discount does not apply to the interest only product. The index used to determine the APR will be the Prime Rate found in the Money Rates Section of the Wall Street Journal published on the first working day of the month. The APR will then be adjusted and effective on the first day of the same month. Minimum credit limit is $10,000. Other rates and terms are available. All rates are subject to change without notice. All loan approvals are subject to normal underwriting procedures. Loan must be secured by primary residence, which must be owner-occupied.

2 Maximum closing cost reimbursement amount is up to $200.00. Closing cost amount will be rebated after you finance a minimum of $10,000 in a new Home Equity Loan. Closing costs will also be rebated with a minimum of $10,000 added on to an existing Clearview Home Equity Loan. If a loan is re-mortgaged with another financial institution or paid off within 12 months of origination, the rebate must be reimbursed to Clearview.

 
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Looking to speak with someone about home equity? Complete the below form and we'll be in touch!
Still have questions about a Home Equity Line of Credit?
Our goal is to provide members with a loan decision within 24 hours after the application is received. Many times an answer can be given on the spot.
Clearview offers competitive rates and flexible repayment terms. View our current home equity rates and terms.
You're a member of Clearview when you open a savings account with just $10. Membership is open to is open to those who live, work, worship, attend school, or volunteer within our 10 county Western Pennsylvania footprint. You may also qualify if you are an immediate family member or share a residence with a current Clearview member. Once you’ve joined Clearview, you may remain a member for life, even if you move!
 
If you're not currently a member and are approved for a loan, your general membership is built in to that process. Learn more about eligibility and benefits.
We use email to communicate with digital banking users. Please log in to digital banking and select My profile under Manage account. Under Personal Information, type your new email address in the Email section and click the Update button. You can also call us at 1-800-926-0003 and we'll make this change for you.
For current Clearview members, check the “My offers” section within digital banking to see if you’ve been pre-approved. You can apply using this feature or through digital banking by selecting Add Product. You can also apply by starting a video call with Clearview Live®, visiting your local financial center, or calling us directly at 1-800-926-0003.

For new members, you can apply by using our online application, starting a video call with Clearview Live®, visiting your local financial center, or calling us directly at 1-800-926-0003.
 
Once an application is completed, it’s either sent to underwriting for review, or for closing if it has been pre-approved or instant approved.
If you're unable to use any other methods to make a payment to your loan or credit card, please send payments to the following addresses:
  • Credit cards: Clearview Federal Credit Union, PO Box 71050, Charlotte, NC 28272-1050
  • Loan or deposit address: Clearview Federal Credit Union, ATTN: Payment Processing, 8805 University Blvd, Moon Twp, PA 15108-2580. 
You can also make a one-time payment to your loan without logging in to digital banking using our Make a Payment Portal. There's a service fee per transaction. We have payment options in digital banking where you can avoid a fee. Business loans, Midwest mortgages, and credit cards cannot be performed through this payment channel. Learn more about your repayment options.

 

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“Clearview takes the time to understand the customer at a human level instead of as numbers on a paper.” William, Member since 2016
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Learn More- Go to membership page
My wife and I recently stopped in for multiple medallion and notary signatures and were impressed by the level of service we received. Everyone was pleasant and attentive and all our needs were taken care of in minutes. A very pleasant and productive visit. AJ, Member since 1996
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I moved to San Diego in 2003. I decided to keep Clearview because I could not find any other bank that treats me as good as Clearview! It is now 2020 and I am still with them and as long as I am doing banking it will always be Clearview! Robert, Member since 1992
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