Home Equity Lines of Credit
Do you need funds for home improvements, college tuition, or debt consolidation? BFCU can help you borrow against the equity in your house with two different HELOC products. Choose the one that fits your needs.
100% Home Equity Line of Credit
Housing values do seem to be coming back up. Still,
a lot of people have access to less home equity because
their home values have decreased. BFCUís new 100%
Home Equity Line of Credit can help by allowing members
to borrow up to the full appraised value of your
home, minus the amount of any existing mortgages.
|100% Home Equity Line of Credit - (Variable)|
||Payment Example per $1,000|
|Based on 10 year amoritzation schedule
|100% Home Equity Line of Credit Payment Example
|# of Weekly
|$100,000||Based on 10 year amortization schedule||5.50%
80% Home Equity Line of Credit
With our new loan limits you can now borrow up to $200,000 against the value of your home, to be used for any purpose. Our Home Equity Line of Credit works in the same way as our regular line of credit. You take advances (either in cash or transferable to any of your BFCU accounts) and as you make payments on the loan your available credit builds back up, leaving you with a ready supply of funds for any situation.
|Home Equity Line of Credit (Variable)|
||Payment Example |
|Based on 10 year amortization schedule
|Home Equity Line of Credit Payment Example|
||# of Weekly Payments
||Total of Payments|
||Based on 10 year amortization schedule
Donít forget, payments are easy at BFCU. You can utilize payroll deduction, direct deposit (ACH), set up an automatic payment from your BFCU account, or use our convenient Home Banking feature. And there are never any prepayment penalties.