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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.

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 application, credit report, or origination fees2

  • 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

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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 7.50% 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


Estimate how much you can borrow

Fill in the fields to quickly estimate your available equity. 

*Required field

Estimated available equity7

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
Up to 12%$12$6
12.25% - 15.00%$14$7



Frequently asked questions about HELOCs

To be eligible for a HELOC, properties must be located in North Carolina, South Carolina, Virginia, or Georgia.

Your rate is subject to change quarterly (four times per year). The maximum quarterly rate adjustment is 0.50%. The minimum APR is 2.75%, and the maximum rate will be the beginning rate plus 5% or 12.75% APR, whichever is higher. Your rate will never be more than 18% APR.

No. All HELOC Loans have a variable rate.

PMI does not apply to SECU HELOCs. However, all properties securing HELOCs must have homeowners insurance.

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