Use the equity sitting in your home help fund your renovations, major purchases, debt consolidation and more.

Use the equity in your home to help fund renovations, debt consolidation, major purchases and more! A Home Equity Line of Credit is a revolving loan that uses your home as collateral. HELOCs allow for greater flexibility than a term home equity loan because they don't require you to draw on all of the available funds at one time, but rather, as needed. Choose the one that's right for you.

Fixed-Rate Home Equity Line of Credit
(Interest-Only)

  • Fixed-rate loan
  • 15-year term
  • Initial draw minimum of $10,000
  • Draw money as you wish and repay up to available line amount for 5 years
  • Interest-only payment for the first 5 years
  • Quick closing in 30 days or less

Fixed-Rate Home Equity Line of Credit
(Principal + Interest Payment)

  • Fixed-rate loan
  • 10 or 15-year terms
  • Initial draw minimum of $10,000 (15-year term) or $16,000 (10-year term)
  • Draw money as you wish and repay up to available line amount for 5 years
  • Quick closing in 30 days or less

Home Equity Loan

  • Fixed-rate loan
  • 5 to 15-year terms
  • Minimum loan amount of $20,000; maximum loan amount no greater than 80% of fair market value
Uses You can use a home equity loan or line of credit for anything, including debt consolidation, home improvements, major purchases, and more.
Advances Unlimited advances - up to your available
credit limit
Prepayment You can pay off your loan or line of credit early with no prepayment penalties.
Quick Application Application can be submitted online in minutes from a desktop or mobile device.

View our Loan Originator NMLS Registry.

Important Disclosures:
Interest Only HELOC
10-Year HELOC (Principal + Interest)
15-Year HELOC (Principal + Interest)
What you should know about Home Equity Lines of Credit

Equal Opportunity Lender. The credit union makes loans and extends credit without regard to race, color, religion, national origin, sex, handicap, or familial status.

Home Equity Line of Credit
(Interest-Only)

TermAPR*
(as low as)
Minimum Draw
15 years5.25%**$10,000

**Payments are interest-only for the first 5 years.


Home Equity Line of Credit
(Principal + Interest Payments)

TermAPR*
(as low as)
Minimum Draw
10 years4.99%$16,000
15 years5.49%$10,000

Home Equity Loan
(1st Lien)

TermRate*APR*
5 Years3.75%3.83%
7 Years3.95%4.00%
10 Years4.15%4.19%
15 Years4.35%4.38%

*APR is Annual Percentage Rate. The APR is as of 6/1/18. APR calculations for Home Equity Loans (excluding lines of credit) are based on an assumed loan amount of $50,000. Minimum loan amount is $20,000. Maximum loan amount cannot exceed 80% of fair market value. All loans are subject to approval. Rates and terms are subject to change without notice and may vary based on creditworthiness. GFCU will pay customary lender fees to include charges for title search, credit reports, automated valuation reports, county recording, and document preparation. However, in certain circumstances, borrower may be responsible for additional costs such as title insurance, appraisal fee, property survey, and certain prepaid items. Property insurance is required, including flood insurance where required.

Home Equity Product Comparison - GFCU