Make Your House Work For You

A 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

Vacation Getaway

Loan vs. Line Of Credit (HELOC)

What's The Difference?

Home Equity Loan


Revolving Line Of Credit

Variable Interest Rate

Funds Accessible Via Debit Card

No Prepayment Penalty

Fixed Interest Rate

Fixed Loan Terms

Home Equity Calculator

Use our calculator to determine the home equity line of credit amount you may qualify to receive.

HELOC Debit Card

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!

Request a Card

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.

Our Team Can Help

Our team of home loan experts across the state of Michigan are ready to guide you through the entire experience, from application to closing. The Honor team can help you decide which loan is best for you, what your payments might be, and give you some insight into additional costs you might not have known about, such as earnest money and PMI. Come tell us your story. We look forward to helping you!

Our local lenders know your community because they live and work there

Your lender will be with you through the entire process, from pre-approval to closing

Our experts can give you helpful tips and ideas to think about throughout your journey

Home Equity Resources

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.

Home Equity FAQs

  • A HELOC is a great product if you’re looking to do multiple projects or would just like to have emergency funds on hand.  HELOC’s also have flexible payment options and typically offer the lowest payment of any home equity product. However, we recommend you reach out to us if you have any questions.

  • A Home Equity Loan is great for a one-time expense, like remodeling a room in a house, a vacation, wedding, college tuition, or car repair. It’s also a great option for consolidating and paying off high-interest debt, such as credit cards or student loans.

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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