Benefits of a HELOC from Excite CU
It’s instant cash- available whenever and as often as you need it.
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
|Loan to Value (LTV) varies
|As low as 9.25% APR*
Your HELOC is Just 3 Quick Steps Away
Quick and easy online loan application.
|Sign Your Loan
Agree to the rate and terms.
|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
*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.
Note: The minimum home equity credit line is $15,000 and the maximum is $250,000. 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. Rate assigned depends on loan-to-value ratio on property and creditworthiness of borrower. APR is variable. Maximum lifetime variable APR on all lines of credit is 18%. We may have paid third party fees on your behalf ranging from $0-$1,000. We will charge you for reimbursement of any fees paid on your behalf if you close the plan within 36 months of opening. Applies to all loans in CA but only loan amounts exceeding $150,000 in NC. Borrower to pay appraisal fee, if an appraisal is needed.
Our Home Equity Line of Credit is a variable rate line of credit tied to the Prime Rate as published in the Wall Street Journal. We will use the most recent index available to us as of the most recent business day and onto which we add our margin.