Home Equity Line of Credit
A home equity line of credit makes your home's equity available to you in case of unexpected expenses. This is a revolving line of credit with a variable rate that you can access at any time, for any amount up to your approved limit.
Home Equity Loan | HELOC | |
Adjustable interest rate | ✔ | |
Fixed interest rate | ✔ | |
One-time lump sum deposited into your account at closing | ✔ | |
Withdraw only the amount you need, when you need it | ✔ | |
Interest only payments until end of draw period | ✔ | |
Principle payments begin at closing | ✔ | |
Closing costs | ✔ | ✔ |
Not what you’re looking for? A Home Equity Loan might be a better option for you.
As a credit union, we share our profits with our members in the form of low interest rates on lines of credit.
Low Closing Costs
Manage your account, make payments, and transfer funds using our app.
Flexible Terms
No Prepayment Penalties
| Loan | APR |
|---|---|
| Home Equity Line of Credit | 6.750% - 8.750% Variable |
Rates effective December 16, 2025.
Legal Disclosures and Additional Information
The actual annual percentage rate you will receive will be based upon your credit score. You will be informed of the annual percentage rate for which you qualify before you become contractually liable for the loan account. Restrictions may apply. For complete details on all loan products, please review our loan product pages or contact us at 800-342-3086.
Primary residence in state of Tennessee.
Terms Available: 10-Year Draw Period
Didn't find the calculator you need? Visit our calculators page to find more.
Is a home equity loan right for you?
A home equity loan lets you borrow up to 95% of your home's value at one time.
- What's the difference between a home equity loan and a home equity line of credit?
With a home equity loan, you can borrow up to 95% of your home's value and lock in a low fixed interest rate. A home equity line of credit is a revolving line of credit with a variable rate that you can access at any time, for any amount up to your approved limit.
- How quickly can I be approved for a home equity loan or home equity line of credit?
The approval time varies, but you should expect the process to take between six to eight weeks from the time we receive the application. Factors like credit history, documentation and property appraisal can influence the timeline. Contact your loan specialist for a more personalized estimate.
- How much equity do I need in my home to take out a home equity line of credit?
We can lend up to 95% of your home’s value up to (maximum loan of $250,000), which includes any balance owed on an existing first mortgage loan. The maximum loan-to-value (LTV) varies based on credit tier, combined LTV and loan amount requested.
- Will my APR change with a home equity line of credit?
It can, because this revolving line of credit has a variable annual percentage rate.
Don't see the question you're looking for?
There are three different ways to apply for Ascend home equity lending: