Home Equity Line of Credit
HELOC PROMOTION*NO Closing Costs!
What is a HELOC
Definition: A HELOC (Home Equity Line of Credit) is a variable rate mortgage which uses the equity in your home as collateral. A Home Equity can be either a first or second mortgage.
Common uses for a Home Equity
- -Consolidating debt
- -Wedding costs
- -Education costs
- -Home improvements
Current Interest Rate for a Home Equity
A Home Equity Line of Credit bases its rate off of the Wall Street Prime. Therefore, the rate is set by the Federal Reserve. Click HERE to view the current Wall Street Prime Rate.
What Makes Us Different
Workmen’s Circle Credit Union is currently having a Home Equity Line of Credit Promotion that will cover all closing fees, *except for an appraisal (if needed).
Timeframe: 3 – 4 weeks
Our Home Equities are underwritten and approved at our local office at 527 Stephenson Avenue. Your loan processor will be your loan closer. Click HERE to see who your loan closer will be.