Benefits of a HELOC from Excite CU
It’s instant cash- available whenever and as often as you need it.
as low as 8.25% APR*
- so you have more money to work with.
Quick Access to Funds
Write a check, transfer, or take out money. It’s quick and convenient.
Revolving Line of Credit
Available whenever you need it. Use it or not. The choice is yours.
Affordable Monthly Payments
Low monthly payments that won’t break your budget.
Excite CU’s Great HELOC Rates
| Description | APR | Application Fee | Closing Costs |
|---|---|---|---|
| Loan to Value (LTV) varies | As low as 8.25% APR* | None | Yes |
Your HELOC is Just 3 Quick Steps Away
Which Product is Right for You?
In contrast, a Home Equity Loan is better if you need a lump sum for a specific purpose and prefer predictable monthly payments with a fixed interest rate. It’s a solid option for major one-time expenses like renovations or paying off high-interest debt.
Contact our Mortgage Team
Step
1 |
Apply Online Quick and easy online loan application. |
Step
2 |
Sign Your Loan Agree to the rate and terms. |
Step
3 |
Access Your Funds Write a check, transfer, or withdraw money. It’s that easy. |
★★★★★
I love this Credit Union!!! Best rates, highest payouts for deposits. Nice folks too. I am shifting the entirety of my indebtedness to them because the rates are so good, and I was tired of getting hit with huge interest at the end of every month. 5 stars.
~ Braxton W.
Home Equity Loan FAQs
A home equity line of credit (HELOC) is like a second mortgage on your house in exchange for cash. The amount of money you can get is based on the equity you have in your home.
With a HELOC, you get a credit line that works sort of like a credit card - it stays open and available during the draw period. You can borrow or take money out as you need it. When you make payments and repay part of the loan, the available credit is replenished.
When you apply for a HELOC, we look at how much equity you have in your home compared to what you still owe on your mortgage loan. That’s your loan to value ratio or your LTV.
From there, we review your credit history, income, and other personal factors to determine if the loan is a good fit. If it is, we usually let applicants borrow up to 80% of their available equity.
Anything. Seriously! HELOCs are great because you can use them for anything. Want to pay off student loans? You can use a HELOC for that. Want to start a food truck business? A HELOC is perfect for that too. What about braces? Your wedding? Or an epic graduation trip backpacking Europe? Yes, yes, and yes!
More Excite CU Loan Options
Personal Loan
The personal fixed-term loan with a can-do attitude. A low interest rate and affordable monthly payments make it a winner.
Mortgage Refinance
Want to lower your payment or take cash out? An Excite CU mortgage refinance might be exactly what you want.
*APR=Annual Percentage Rate. The floor rate will never be less than the WSJ Index + Margin @ Origination and the rate will be Variable based on the WSJ Prime + the Margin that was set at origination. Rates subject to change without notice.
The minimum home equity credit line is $15,000. The minimum payment will equal interest only during the 15 year draw period. After the 15 years, the draw period will close and further advances will not be available. The loan will then be recalculated to pay the loan off in an additional 15 years. Monthly interest only payment example: $10,000 loan amount at 8.500% APR = $70.83. Monthly interest only payment example after initial promotional rate offer assuming you have a FICO credit score of 750 or greater: $10,000 loan amount at 9.25% APR = $77.08. An early termination fee of up to $1,500 applies when a home equity line of credit is paid off and closed within the first 3 years (not applicable for North Carolina properties with loan amounts of less than $150,000). Other fees, terms and conditions may apply. Maximum credit limit is subject to credit qualification and appraised value; standard underwriting guidelines apply. This is not a commitment to lend.
Please note: The subject property must be a single family home occupied by the Member as their primary residence; located in California or North Carolina; mobile homes are excluded. Offer cannot be used for an existing home equity line of credit.