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.
As a credit union, we share our profits with our members in the form of low interest rates on lines of credit.
Over the past 18 years, we’ve given our members more than $104 million in interest refunds and bonus dividends.
No Prepayment Penalties
Low Closing Costs
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|Home Equity Line of Credit||5.500% - 7.500% Variable|
Rates effective July 28, 2022.
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
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- 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 home equity loan or home equity line of credit?
You should expect the process to take between two to four weeks on average from the time we receive a complete application, depending on the level of documentation required.
- 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 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.
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