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Routing Number: 253177049
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Home Equity Line of Credit (HELOC)

Put your home’s equity to work with an open-ended loan that allows you to borrow as much or as little of the total credit line amount as you need.

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Maximize your home's equity

Unlock the equity in your home by borrowing against your home’s equity through a revolving line of credit that remains available to use continually within the 15-year draw period, even if you pay the full balance. Because your home secures the loan, the interest rate is often lower than unsecured types of credit. Withdraw funds as needed for life’s big or unexpected expenses and repay at a variable interest rate. 

HELOCs are commonly used for: 

  • Home improvements or remodels

  • Debt consolidation

  • Emergency expenses

  • Weddings

  • Medical expenses

  • Work or school expenses

Unique features of SECU HELOCs

  • Borrow up to 90% of your primary or secondary home’s value or 65% of an investment property's value, minus any outstanding mortgage balances1

  • Avoid complicated rate buy-downs or discount points2

  • No fees for application, credit report, or origination2

  • An in-branch closing option is available3

  • Get advances via the SECU Mobile App, online through Member Access, at your local branch, or by contacting Member Services Support at (888) 732-8562

  • Request advances any time throughout the 15-year draw period4

  • Use as a protecting account for your SECU Checking Account through our Overdraft Transfer Service5

Disclosures

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Understand your financing options

Is a HELOC aligned with your financial goals? Check current rates, estimate your home equity, and view payment schedules. 

New lines of credit are available at an initial Annual Percentage Rate (APR)6 of 6.50% until the first quarterly rate change based on the current index and margin.7 For existing loans, future rates and payments are determined quarterly by adding a margin of 2.25% to the index.8

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Estimate how much you can borrow

Fill in the fields to quickly estimate your available equity. 

*Required field

Estimated available equity7

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Understand your payment schedule

Your minimum payment is based on the APR, loan balance,9 billing frequency, and repayment plan. 

Standard repayment per $1,000 borrowed10

APRMonthlySemi-monthly / Bi-weekly
APRUp to 12%Monthly$12Semi-monthly / Bi-weekly$6
APR12.25% - 15.00%Monthly$14Semi-monthly / Bi-weekly$7

 

Disclosures

Frequently asked questions about HELOCs

Related resources

  • article

    HELOC vs Cash-Out Refinancing

    Curious how to get the most out of your home's equity? SECU loan specialists compare the benefits of HELOCs and cash-out refinances to help you choose the right fit.
    Read article
View all learning resources

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  1. Properties must be located in North Carolina, South Carolina, Virginia, or Georgia. Manufactured homes cannot serve as collateral. Property insurance is required.
  2. Fees payable to third parties to open the line of credit generally range from $0 to $1,600. Processing fees on lines of credit secured by property in Georgia, Virginia, and South Carolina may be higher than for property in North Carolina, and not all fees can be waived. An itemization of these fees is available upon request. A mortgage loan specialist can assist you in determining the fees in your area.
  3. Not all closings may occur in branch. You may be required to close your loan through an attorney in certain situations. Contact a SECU mortgage loan specialist for more information.
  4. Members may borrow against their available credit line, up to the maximum line amount, for 15 years, subject to the terms of the account agreement. After the draw period ends, regular payments will continue until the loan is paid in full.
  5. Overdraft transfers made from home equity lines of credit are considered loan advances. Transfers can be made up to 100% of the unused line of credit plus $200. Fees may apply. See the Overdraft Transfer Services page for more details.
  6. APR = Annual Percentage Rate. APR is your cost over the loan term expressed as a rate.
  7. Rate is subject to change quarterly. The maximum quarterly rate adjustment is 0.50%. The minimum interest rate is 2.75% APR and the maximum interest rate will be the beginning rate plus 5% or 12.75% APR, whichever is higher, but never more than 18% APR.
  8. The index is the 26-week Treasury Bill rate set at the first auction held on or after the 15th day of the second month of the previous calendar quarter, adjusted up to the nearest 0.25%. Subject to a minimum adjusted index for this product of 0.50%.
  9. Payment is based on the previous highest loan balance. The required payment amounts are reset if the loan balance is paid to $0.
  10. Minimum payment per $1,000 outstanding balance rounded to the next highest increment.