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Home Equity Rates

View our competitive low rates on home equity loans with terms ranging from five to 15 years, and learn about our home equity line of credit options to find the solution that works best for you and your budget.

Solutions To Fit Your Budget

Home Equity Rates

Type RateAs Low As APR*
5 Year Fixed



10 Year Fixed



15 Year Fixed



Advantage HELOC



Traditional HELOC



Interest-Only HELOC



Rates accurate as of Jul 18, 2024
*APR = Annual Percentage Rate. All loans are subject to credit approval as well as program terms and conditions. Exact rate and fees offered may vary and are based on credit worthiness, term, collateral, and loan to value. Rates shown are based on the refinance of a primary residence, with a $10,000 loan amount, estimated closing costs of $300, CLTV of 80% or less, and a credit score of 730 or above. Rates quoted include a 0.25% discount for applicants with a new or existing Honor Credit Union checking account with direct deposit. Posted rates are indications only and are subject to change without notice. Other rates available for other LTV and credit score ranges. Normal underwriting guidelines apply. All loans are subject to credit approval as well as program terms and conditions.

Payment Example: $10,000 at a rate of 8.000%, 9.286% APR for 5 years equals $202.76. This payment example consists of principal and interest only and does not include any additional fees or costs. Your actual payment may be higher.

Home Equity Calculator

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

Get Started

Ready to move forward? Start the application process online 24/7.

Loan vs. Line of Credit

Is a Home Equity Loan or Line of Credit better for you?

Home Equity Resources

We want to be a resource as you make a decision to use the equity in your home. If you have questions, simply stop by a local member center near you, 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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Scheduled Maintenance

Our mortgage and home equity application platform is currently unavailable due to routine scheduled maintenance. We apologize for any inconvenience.

Zero Down Payment Offer

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!

Find An Expert Near You

Need Help? Contact us at 800.442.2800 and we will help you get started with the application process.