Home Equity Line of Credit
Flexible Long-Term Access to Your Home Equity
By getting a line of credit you can borrow from your home’s equity as you need and pay back at a variable rate. Perfect to quickly fund home improvements, college tuition, and other major purchases as they arise.
- Variable Rate1
- Minimum $25,000
- 10 year draw period with interest only payments, then 10 year repayment term (principal plus interest)
- 80% and 90% loan to value options²
Convenient Online Payments
Pay your loan anytime from your online banking account or through the mobile app.3
Home Equity Line of Credit
Apply Now| Financing | Interest Rate |
|---|---|
| 80% Financing | Prime -1.000% |
| 90% Financing - HELOCPlus | Prime +1.00% |
1Subject to credit underwriting and approval. Loan amount may vary based upon credit approval. Visit our rates page for all available rates and terms. Rates effective as of 8/18/2021 and subject to change at any time. Offers may be withdrawn at any time. Workers Federal Credit Union membership required. APR=Annual Percentage Rate.
2Maximum combined loan to value is 80% or 90% for owner-occupied primary residence. Investment properties are not eligible. Homeowner’s insurance is required. Minimum loan amount is $25,000.
- 80% Financing: There is a 10-year draw period and a 10-year repayment period. The payment does not include taxes and insurance. The payment may be greater. An annual fee of $30 will be waived if the borrower has the monthly payment paid automatically from a Workers checking account. Offer applies to new Workers Federal Credit Union lines only. Owner-occupied primary residence only to a maximum 80% combined loan-to-value and a maximum of 75% combined loan-to-value on owner-occupied second homes. Investment properties are not eligible. Homeowner’s insurance is required. $350 early termination fee will be charged if discharged within the first two years. Current Wall Street Journal Prime is 8.50%. Maximum Rate is 18%. Minimum Rate is 2.99%. The Interest Rate is variable and will be set on the first business day of each month at minus 1.00% below the Prime Rate published in the Wall Street Journal on the last business day of the previous month. Minimum line amount is $25,000.
- 90% Financing: The Interest Rate is variable and will be set on the first business day of each month at plus 1.00% above the Prime Rate published in the Wall Street Journal on the last business day of the previous month. The Current Wall Street Journal Prime is 8.50%. Maximum rate is 18%. Minimum Rate is 5.00%. There is a 10-year draw period and a 10-year repayment period. The payment does not include taxes and insurance. The payment may be greater. Maximum loan to value is 90%. An annual fee of $30 will be waived if the borrower has the monthly payment paid automatically from a Workers checking account. $350 early termination fee will be charged if discharged within the first two years. Offer applies to new loans only on owner-occupied single family and condominiums only. Investment properties are not eligible. Homeowners insurance required.
3Text, data, and messaging rates apply for downloading/utilizing the app and text alerts.