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Home Equity Lines of Credit (HELOC)

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.

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Line of Credit

Draw as much or as little from your HELOC up to your approved limit and only pay on what you borrow.

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Low Rates

Since a HELOC is secured by your home's equity, you can enjoy lower rates compared to other types of personal financing.

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Up to 100% CLTV

Get more financing from your home's equity with up to 100% combined loan to value for primary residences.

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NY, NJ and PA Residence Only

Available for 1-4 unit owner occupied properties. Restrictions apply.

Rates

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12 Month Promotional Rate APR*

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Low Rates

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!

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Line of Credit

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.

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I had the easiest loan process in my life.

— Scott T

How it works

Get started today and let us guide you through the process

  • 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.

  • 3

    Use your line of credit

    Once approved, you may start using the funds in your HELOC as needed.

Apply for a HELOC

 

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.

Disclosures:

*APR = Annual Percentage Rate.

Home equity loans are available in NY, NJ and PA only.

Credit Union Membership is required with a minimum deposit of $5 for all products.

You may be required to pay certain fees to third parties to open a home equity and/or home improvement loan.  These fees 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 homeowner’s insurance is required. Flood insurance may be required. Escrow may be required.

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.

Fixed Rate Home Equity

  • Maximum CLTV (Combined Loan-to-Value) is 100%. Certain terms apply, contact the credit union for details.
  • Must be in 1st or 2nd lien. Property must be a 1-4 unit owner occupied property. CLTV above 90% is limited to 1-2 units.
  • Manufactured/Mobile homes with land are accepted with maximum CLTV of 80% . Certain terms apply, contact the credit union for details.
  • Closing costs can be waived with an add-on of 0.50%.  The loan must remain open for a minimum of 36 months to avoid reimbursing waived fees.
  • Title Insurance may be required and would be paid by the borrower (even if a promotion to waive closing costs is in effect)

Home Equity Line of Credit

    • Maximum CLTV (Combined Loan-to-Value) is 100%. Certain terms apply, contact the credit union for details.
    • Must be in 1st or 2nd lien. Property must be a 1-4 unit owner occupied property. CLTV above 90% is limited to 1-2 units.
    • Manufactured/Mobile homes with land are accepted with maximum CLTV of 80% . Certain terms apply, contact the credit union for details.
    • Index is Prime Rate as published in the Wall Street Journal on the 20th of the month prior to the change.
    • Rate is variable and may change quarterly based on the applicable index and margin.  Quarterly changes occur on the 1st of January, April, July and October if a change we to occur.
    • Floor rate = 3%.
    • Maximum rate is 15.00%
    • HELOC amortization is based on the original maturity date of 360 months.
    • Payments are principal and interest with a minimum monthly payment of $100.
    • Title Insurance may be required and would be paid by the borrower (even if a promotion to waive closing costs is in effect)

Promotional HELOC Rate & Payment Changes:

The initial rate of 0.750% 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. The rate change thereafter may occur quarterly based on the index plus margin.

 

Effective 4/13/24 – Market St. branch will be temporarily closed on Saturdays due to construction (ATM still available). Our Oneida St branch will be open on Saturdays from 9am – 12pm.