Home Equity Line of Credit
We offer a home equity line of credit that you can use for whatever you need — from paying bills or consolidating debt to pulling the trigger on that brand-new kitchen you’ve been dreaming of.
Get Started
Tap into your home’s equity with confidence. Once submitted, a member of our lending team will reach out to guide you through your next steps.
How does it work?
Draw Period: You can spend against your line of credit for up to 10 years, also known as the draw period. During the draw period, you will make interest-only payments based on only what you have spent, not on your entire credit limit.
Repayment Period: After the draw period of 10 years, you will enter the 15 year repayment period. During the repayment period, your minimum payment will be interest only plus the minimum monthly payment required under the terms of any “Locked In” balance.
Interest Rate: HELOCs are issued at a variable interest rate, meaning your interest rate can change over time. Throughout the life of your loan, you can “lock” in your rate one time.
HELOC Calculator
Find out how much you could borrow with a home equity line of credit.
Home Equity Line of Credit (HELOC) Rates
| Rate | APR |
|---|---|
| As low as 6.500% | 6.500%** |
ELGA Credit Union
HELOCs made human.
Rates & Disclosures
Meet the Team
NMLS Licenses
Loan rates and approval subject to credit score and analysis. See credit union for details. Loan rates subject to change without notice. Equal opportunity lender. This credit union is federally insured by the National Credit Union Administration. NMLS: 408938
**The Annual Percentage Rate (APR) is based on Prime plus a margin. Prime is based on the highest Prime Rate reported in the Wall Street Journal. Prime is a variable rate; as it changes, the APR on your account will be adjusted quarterly. The APR will never exceed 18.000% or the maximum rate allowed by law. The margin is determined by your credit profile.
All rates subject to change without notice. Rates based on your credit bureau score. The rates listed above are for members who have excellent credit. Rates increase if there have been previous credit problems. All rates quoted “as low as”. APR = Annual Percentage Rate.
