
Should You Build Or Buy a House? Consider These Things
We’ve outlined the essential pros and cons to consider before purchasing, or building your new home so you can decide what’s most important to you.
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BECOME A MEMBERA home equity loan or home equity line of credit (HELOC) is a great way to pay for life’s projects. By using your home’s equity as collateral, you can make your home work for you! Applying is a quick and easy process. Stop by any of our member centers or apply online 24/7.
Home Improvement
Debt Consolidation
Unexpected Expenses
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Make your house a
HOME
as low as 4.99%APR*
12-Month Introductory Rate
8.25%APR*
Variable Rate Thereafter
*All loans subject to credit approval. The APR 4.99% is good for a home equity line of credit (HELOC) with 80% Loan-To-Value (LTV) and a minimum credit score of 730. Introductory rate is for first 12 months only. Upon expiration of introductory period, rate will adjust to the applicable rate as disclosed in the original note of the loan. Rate will vary based on the Wall Street Journal Prime “Prime” rate, which was 8.25% APR as of 5/4/2023. Line of credit rate is variable, may change over the course of the loan, and will not exceed 15.00%. The Advantage product has a floor rate of 3.00% and the Traditional or Interest Only products have a floor rate of 5.00%. $300.00 processing/ closing cost fee on all home equity products plus appraisal fee, if required. New home equity loans only. Offer good for primary and secondary residences only. Flood insurance may be required. All credit union loan programs, rates, terms and conditions are subject to change at any time without notice. Other restrictions may apply. Limited time offer. Subject to credit approval. Equal Housing Opportunity. Insured By NCUA.
Use our calculator to determine the home equity line of credit amount you may qualify to receive.
A HELOC (Home Equity Line of Credit) debit card gives you access to your HELOC funds no matter where you are. With the swipe of a card you can purchase what you need for the project you are using the line of credit for, so there’s no need to run to a member center to withdraw funds, or transfer funds to your checking account! Honor Credit Union is all about making your experiences simple and efficient!
To request your HELOC debit card, please complete the secure form below. Following review, your new debit card will arrive within 7-10 business days.
Please Note: All form submissions are processed during normal business hours Monday – Friday.
We want to be a resource as you make a decision to use the equity in your home. We’ve dedicated a section of our blog to home equity and home improvement topics. We hope you find them helpful. If you have questions, reach out to our Home Loan Team or give us a call at 800.442.2800.
We’ve outlined the essential pros and cons to consider before purchasing, or building your new home so you can decide what’s most important to you.
You should keep certain things in mind when considering refinancing your mortgage, refinancing an auto loan, or using your credit card to pay for home improvements.
Picture this: You finally make the exciting leap to start house hunting. You meet up with your realtor, see a
Are you running out of space in your home? Don’t spend your time looking for a new one. Instead of
Ultimately, we recommend you talk to one of our home loan experts, who will listen to your story and advise you of the best solution for your individual need.
The answer depends on your unique situation. Home equity is the amount available after subtracting what you owe on your mortgage from your home’s current market value. Home values increase and decrease depending on market conditions. Just because you were once loaned to the total value of your home doesn’t mean you are today. The amount you could be approved for depends on your credit history, your home’s value, and other factors.
No. There are no fees to apply for a home equity loan or line of credit. We do charge a small loan processing fee, however, it is cheaper than the industry average depending on your situation. There may be additional fees, but our team will iron out all the details so there’s no confusion. We’d be happy to discuss the process with you. Please don’t hesitate to reach out to one of our team members. We’re here to help!
Our team works as quickly as possible. It typically takes 7-14 business days from the time your application is submitted to you having your loan funds available. The timeline can vary based on a number of factors related to your situation but we are very transparent with our communication during the process and will make sure you are given a realistic expectation so you can be prepared.
Honor Credit Union is a proud member of:
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To make the process as simple as possible with our Zero Down Payment mortgage offer, we encourage you to speak with a mortgage expert so they can explain the requirements and guide you through the process!
Need Help? Contact us at 800.442.2800 and we will help you get started with the application process.