Home Equity Loans

We have cost-effective ways to help you make the most of your equity and refinance your mortgage!

Home Equity Lines of Credit

Fast, Flexible and Affordable

Our HELOC Benefits:

  • Loans up to a $400,000 (up to 90% of your homes LTV*)
  • 10-year draw period
  • Variable monthly payment based on balance
  • No pre-payment penalties
  • No annual fees
  • Minimal closing costs*
  • Easy access to your cash

Interest may be tax deductible**


Fixed-Rate Second Mortgage

Fast, Easy & NOW! A Simple Lending Option!

Get the money you need in a convenient, single payout to cover debt consolidation, home improvements, medical expenses or most any other purpose.

Our Second Mortgage Benefits:

  • Fixed terms for 5, 10, 15 years
  • No annual fees
  • Maximum loan amount is 80% of the appraised*** value, LESS any first mortgage (not to exceed $400,000)
  • No pre-payment penalties
  • Fixed-rate monthly payments
  • Minimal closing costs*


*Minimum costs may include County Recording, Title Search and Appraisal Fees. Loan to Value of the property will be determined at 90% of the appraised value minus any other outstanding liens (i.e. first mortgage) on the property.

**The Home Equity Line of Credit (HELOC) has a variable interest rate that is based on the Wall Street Journal Prime Rate and is subject to change semi-annually. The floor is 4.00%. The rate cannot increase or decrease by more than 2.00% in a calendar year, and the maximum rate is 18.00%. If the credit union pays the closing costs and the HELOC is terminated within two years, the closing costs must be reimbursed by the borrower. All rates and terms are subject to change without notice and other restrictions may apply. Please consult your tax advisor on all tax matters.

***If the loan is $60,000 or under, the most recent tax assessment will be accepted unless the value of the home is in question. Then, an appraisal will be completed.  Any loan over $60,000 an appraisal will be completed by an authorized appraiser selected by the credit union at the member’s expense.

****APR=Annual Percentage Rate.  This is a variable rate and is adjusted semi-annually, plus, (i) applies to (LTV) ratio of 90% for primary residence and non-owner occupied residences, (ii) in no event will the APR be less than 4.00% and no more than 18.00%.  Property insurance is required, flood insurance may be required.  Interest may be tax deductible, consult your tax advisor for more information.  Additional restrictions, limitations and exclusions may apply.  We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.  NMLS420026


Home Mortgage Disclosure Act Notice

The HMDA data about our residential mortgage lending is available for review. The data shows geographic distribution of loans and applications; ethnicity, race, sex, and income of applicants and borrowers; and information about loan approvals and denials. Inquire at this office regarding the locations where HMDA data may be inspected. To receive a copy of this data send a written request to P.O. Box 1607, Springfield, VA 22151.


Home Equity Line of Credit