Home Equity Line of Credit

"It would make my life easier to have quick access to cash for planned and unexpected expenses."

Competitive, low rate
Refund on closing costs
Fast, easy access to money

Flexible funding you can use for any reason at all.

Life is full of possibilities. Whether you're planning your dream vacation, tackling a home improvement project, or simply need some financial breathing room, a home equity line of credit (HELOC) from Clearview Federal Credit Union can be your partner in progress. You can tap the equity in your home for a low-cost line of credit, using as much or as little as you need at any given time. This revolving line of credit keeps money available for whenever you might need it over a 10 year draw period.

No application fees or annual fees
Closing costs refunded up to $200
Borrow up to 100% of the appraised value of your Pennsylvania home, minus what you owe on your mortgage
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

Interest-only home equity line of credit

Looking for a flexible way to access your home’s equity while keeping your monthly payments low? Our interest-only home equity line of credit might be the perfect fit. This option allows you to borrow funds using your home’s equity and make payments on only the interest on the amount borrowed during the draw period, giving you more financial flexibility.

Low rates, flexible terms.

6.00% APR

Put your home to work.

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Know this before you apply for a home equity line of credit

How a home equity line of credit works

A home equity line of credit (also called a HELOC) is an open revolving form of credit that’s secured by the paid value of your home. You can apply for a home equity line of credit up to 100% of your 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 Unlike traditional loans, funds are withdrawn as needed rather than being received in a lump sum (similar to a credit card).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. After the draw period, any withdrawn funds will need to be repaid, either immediately or within a set time. HELOCs are used most often to pay for home improvement projects, but they can be spent however you choose — a wedding, vacations, adoption, debt consolidation, and more.

Take a closer look
Determining equity in your home

Try using our home equity calculator to help calculate this amount. Your equity is your home's current market value minus the remaining balance on your mortgage.

Calculate your payment
Advantages of a credit union HELOC

Clearview Federal Credit Union is not-for-profit and without shareholders, unlike large banks. That means any profits we earn are given back to members in the form of lower interest rates and greater flexibility in payment terms for home equity lines of credit. We want to help you achieve your financial goals and improve your financial well-being along the way.

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