Get a line of credit to cover costs on the fly
If you're not sure how much money you'll need, a Home Equity Line of Credit (HELOC) will give you flexible funding to draw on to cover various expenses secured by the equity in your home.
Line of Credit
Draw as much or as little from your HELOC up to your approved limit and only pay on what you borrow.
Low Rates
Since a HELOC is secured by your home's equity, you can enjoy lower rates compared to other types of personal financing.
Up to 100% CLTV
Get more financing from your home's equity with up to 100% combined loan to value for primary residences.
NY, NJ and PA Residence Only
Available for 1-4 unit owner occupied properties. Restrictions apply.
Rates
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Monthly Payment
Spend less on interest and keep more money in your account
Home equity lines of credit are secured by the equity in your home, meaning you can enjoy much lower rates compared to other types of personal financing. With low rates come big savings!
Flexible financing to help you pay for ongoing costs
A HELOC isn't a loan that comes in a lump sum. You'll have access to a line of credit on which you can draw as much or as little as you need. Lines of credit are ideal for ongoing variable costs, like renovating your home, funding a vacation, covering medical expenses, or paying for education, to name a few.
I had the easiest loan process in my life.
-
1
Complete an application
Our friendly & professional mortgage reps will guide you through the application
-
2
Have your home appraised
If required, get your home evaluated to determine the value.
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3
Use your line of credit
Once approved, you may start using the funds in your HELOC as needed.
Have a question? Get in touch with us
Have the funds to cover whatever costs life might throw your way
With a HELOC from SFCU, you can get a low-rate line of credit you can use to pay for a wide variety of ongoing expenses, backed by the equity in your home.
HELOC Rates (Home Equity Line of Credit)
| Combined Loan to Value (CLTV) | Introductory Rate: First 12-Months | Margin | Index (Prime) |
|---|---|---|---|
|
80% or Less |
5.990% |
-0.50% |
7.50% |
|
80.01% to 90% |
5.990% |
-0.25% |
7.50% |
|
90.01% to 100.00% |
5.990% |
+0.25% |
7.50% |
Rates effective as of: May 21, 2025
Promotional HELOC Rate & Payment Changes:
The initial rate of 5.990% indicated for the HELOC will remain constant for one year and is subject to increase after. This initial rate is not connected to an index. After initial promotional rate period variable rates may change quarterly, based on the applicable index and margin. The index is the prime rate published in the Money Rates column of the Wall Street Journal. When a range of rates has been published the highest rate will be used. We will use the most recent index value available to us as of 10 days before the date of any annual percentage rate adjustment. The margin is -0.50% to 0.25%. Manufactured/Mobile homes add 0.50% to the margin. If applicable, the initial rate is not connected to an index.
APR = Annual Percentage Rate. Based on the final loan amount and applicable finance charges.
Combined Loan-to-value (CLTV) - Calculated by dividing the amount of all loans on the property, including loan that is being applied for, by its value.
CLTV Allowance:
1-2 Family - Up to 100% CLTV
3-4 Family - Up to 90.00% CLTV
Mobile/Manufactured Home - Up to 80% CLTV - Rate add-on of 0.50% is also applicable for these types of homes.
Lien Holder Position:
SFCU must be first or second lien position.
Closing Cost/ Fees:
You may be required to pay certain fees to third parties to open a home equity loan. These fees are generally total between $625 and $4000. If you ask, we will provide you with an itemization of the fees you will have to pay to third parties. Certain fees may be considered a finance charge. Proof of homeowners insurance is required. Flood insurance may be required. Escrow may be required. Title insurance may be required.
HELOC Draw Period:
120 months (10 years)
HELOC Repayment Term (Amortization Period):
30-years from Funding Date
• The payment will be recalculated each month based on the outstanding balance, and interest rate and the remaining term.
• The minimum payment is $100 a month.
Variable Rate Details:
Floor Rate: 3.00%
Maximum Rate: 15.00%
All rates are subject to change at any time. The credit union reserves the right to modify or suspend any conditions of the loan programs at any time without prior notice.
Credit union membership is required.
SFCU only secures loans on properties located in NY, NJ and PA.
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