Home Equity Loan & HE-Lock
Home Equity Loans
Use the equity in your home to your advantage. A home equity loan is a great way to pay for home improvements, education, bill consolidation, vacations, refinancing, weddings and more.
Low fixed rates
Terms up to 240 months
Up to 100% financing available
- Minimum loan amount $10,000
- Fixed rates for up to 20 years1
- Debt Protection available
- Up to 100% financing available2
- Interest may be tax deductible3
$50,000.00 max loan amount on home equity loans with LTV’s above 85%.
HE-Lock
Variable Rate Home Equity Line of Credit with a fixed rate option!4
LOCK-in
Different Amounts
LOCK-in
Different Terms
LOCK-in
Different Rates
All under one convenient loan agreement and monthly payment
Our signature product! HE-Lock combines the flexibility of the traditional Home Equity Line-Of-Credit with the low fixed rate and term options of a Home Equity Loan. Borrow only the money that you need when you need it. LOCK in different amounts, terms, and rates under one convenient loan agreement, and monthly payment, without the hassle of re-applying.
- Interest-only payment option5
- Fixed rates for up to 20 years6
- Up to 85% loan-to-value financing
- Debt Protection available
- No annual fees7
- Minimum loan amount $10,000
- Interest may be tax deductible3
Confused about which loan is right for you? Contact us and we’ll help you determine the best fit.
HE-Lock FAQs
What is the benefit of a HE-Lock vs. a home equity loan?
HE-Lock combines the flexibility of the traditional Home Equity Line-Of-Credit with the low fixed rate and term options of a Home Equity Loan. Borrow only the money that you need when you need it. Lock in different amounts, terms, and rates under one convenient loan agreement, and one monthly payment, without the hassle of re-applying as your borrowing needs change.
How do I access my HE-Lock funds?
You will receive a book of checks when you obtain your loan, and you may also advance the HE-Lock in Online/Mobile banking, or make an advance at any branch.
Why would I want to Lock in my balance?
You can lock in a portion of your loan at our current home equity rates, or the interest rate disclosed on your loan documents, whichever is lower. Each locked portion is called a segment. The payment for the segment will then be billed as part of your monthly loan payment and be paid off in the term you choose, up to 20 years. As you pay down your segment, you will be able to access those funds on your line of credit for future advances.
What are the HE-Lock payment options?
There is a ten-year draw period with up to a maximum of 20-year repayment term from the end of the draw period. During the draw period, you may choose to have your payments billed as interest-only, or as 1% of the end-of-month revolving balance. If you have locked in any portion, the interest-only or 1% payment option will apply to the amount not locked in, and your locks will have a fixed monthly payment that will be combined with the revolving payment portion for one total monthly amount. If you have any amount revolving, you are encouraged to pay more than the minimum payment so that your principal balance reduces over time. Once the draw period is over, we will term out the remaining balance over the appropriate period up to 20 years, as described in your loan documents.
How is my HE-Lock Billed?
Your HE-Lock payment is billed monthly and amounts due are shown on your monthly statement. You will not receive a coupon book for this loan since the amount due could change monthly. All balances under your HE-Lock are billed in one combined monthly payment. For example, you may have a revolving balance, and up to five locked segment amounts. All of these payment portions will be combined into one total monthly payment.
How are payments applied to my HE-Lock?
Payments received will first be applied to the segment with the highest interest rate. If you desire your payment to go to specific segment(s), you must indicate which segment(s) when making your payment.
Will my interest rate change?
The rate on the Line-of-Credit portion of your loan is variable and may change monthly based on Wall Street Prime. If you would like to “lock” a rate in like you do with a regular home equity loan, you may take advantage of locking in a minimum of $5,000 to a maximum of your credit line. Fixed rate will be equal to the Index plus a margin, as outlined in your home equity addendum, or our current home equity rates that correspond to the appropriate term, whichever is lower.
What happens when interest rates change?
The rate on the Line-of-Credit portion of your loan is variable and may change monthly based on Wall Street Prime. Your statement will show when interest rate changes are made, on the 1st of the month. The interest rate on your locked segments will not be affected.
How much does it cost to do a Lock?
There are no fees to lock in your balance.
What is the minimum amount I can Lock?
We require a minimum amount of $5,000.00 per lock.
How many Locks can I have?
You can lock in up to 5 locked segments at a time.
How do I request a Lock?
You may contact any branch to start the paperwork for locking your loan. We will prepare the documentation and lock in the desired amount upon completion. You may sign the documents electronically if you desire, or we can schedule an appointment for you to sign.
Disclosures
1 Fixed at our Current Home Equity Rates that correspond to the appropriate term.
2 Maximum Loan amount for Home Equity Loans with Loan To Value (LTV) above 85% is $50,000.
3 Consult your tax advisor for more information.
4Line-Of-Credit utilizes a variable Annual Percentage Rate (APR). APR is based on Wall Street Journal Prime (“The Index”), adjusted monthly. The Index is the Prime Rate published in the Money Rates column of the Wall Street Journal. When a range of rates has been published, the highest rate will be used. We will use the most recent index value available to us as of 15 days before the date of any annual percentage rate adjustment. If the rate is not already rounded, we then round up to the next .125%. Your APR will not exceed 18% or go below 2.50% at any time during the term of your loan. Please refer to our rates page for rates as of September 2, 2025 11:19 am EST. Rates may change at any time without notice.
5There is a ten-year draw period with up to a maximum of 20-year repayment term from the end of the draw period. The minimum loan amount is $10,000; there is no minimum draw amount. Interest-only payment option only available for “un-locked” balances of the line-of-credit, at a Variable APR, during the draw period. After the draw period interest plus principal payments, for unlocked balances, applies at a fixed rate. Initial payment is due on the 25th of the following month of final loan closure, and reoccurs on the 25th monthly thereafter for the term of the loan.
6At any time during your loan term, you have the option to “lock” in up to five (5) portions of your line-of-credit at a fixed rate. Minimum lock amount is $5,000 with terms of up to 240 months. Fixed rate will be equal to the Index plus a margin, as outlined in your home equity addendum, or our current home equity rates that correspond to the appropriate term, whichever is lower.
7One-time origination fee of $150 required. Credit Union will pay remaining closing costs, including appraisal fees (excludes title insurance when required). No early payment fees. Late payments are subject to a 5% of the payment fee.
Home Equity Checklist
In order to assure a smooth and speedy application process please have the following items on hand when applying:
- Income Verification – Your last two paystubs, or if you are self‑employed last two federal tax returns.
- Annual property tax amount
- Homeowners Insurance information
- Insurance Company
- Insurance Agency
- Insurance Agency Phone Number
- Annual premium amount
- Payoff Letters – If funds are for consolidation or refinancing existing mortgage or home equity.
4 convenient ways to apply
At Any Branch
Call Any Branch
Online
