Turn Equity to Cash with Our Home Equity Line of Credit!

Our brand-new Fixed-Rate HELOC gives you the option for predictable monthly payments for the entirety of the selected 10-year draw period. Even if rates rise, your rate will remain the same!

If you have a home and have been making payments on your mortgage for years, then you may have built up a significant amount of equity. A Home Equity Line of Credit (HELOC) is a great way to leverage the value of your home and ensure you have funds available for almost anything you want, such as home improvements and additions, debt consolidation, education, family vacations, and more! Similar to a credit card, a Home Equity Line of Credit allows you to borrow what you need, as you need it, up until you reach your credit limit.

Home Equity Line of Credit Details1:

  • Borrow up to 85% of the equity of your home
  • Quick approval process
  • Closing costs are waived with an initial draw of $10,000 for new HELOC borrowers, otherwise closing costs are estimated between $150 to $1,000.
  • 10-year draw period. With a Fixed-Rate HELOC, the loan converts to a variable rate of prime plus a margin after initial 120 months2.
  • No annual fee
  • Competitive rates

An APCO Employees Credit Union HELOC gives you the buying power you need to maximize life or simply provide a line of credit that’s ready in case an unexpected expense comes your way.

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1Terms and conditions apply. See lender for further information concerning fees, rates, and terms. Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan. Consult your tax advisor about deductibility. Adequate homeowner’s insurance coverage is required. 

2Terms and conditions apply. On a Fixed-Rate HELOC, the APR is fixed for 120 months and is based on creditworthiness. After the 120 month fixed rate period ends, the APR will be based on the Prime Rate as published in the Wall Street Journal plus applicable margin. Closing Cost will be waived with a minimum initial advance at closing of $10,000. Closing cost fees are generally estimated between $100 and $1000. Offer is good on new Home Equity Lines of Credit only. All rates and offers are subject to change without notice. Adequate Homeowner’s insurance coverage is required. See lender for further information concerning fees, rates, and terms. Equal Housing Opportunity Lender. Federally Insured by NCUA.


What is a Home Equity Line of Credit?

A Home Equity Line of Credit, also known as a HELOC, is a line of credit secured by your home that gives you a revolving credit line to use for large expenses. With a HELOC, your borrowing against the available equity in your home and the house is used for collateral for the line of credit. As you repay your outstanding balance, the amount of available credit is replenished – much like a credit card. This means you can continually borrower against the line of credit for the full life of the draw term.

What can I do with a HELOC?

Members can use a Home Equity Line of Credit (HELOC) for many things: Home Improvement, paying off high-interest debt, installing that dream swimming pool, buying a vehicle. Some members use a HELOC to buy a second property or a vacation home.

How is the payment calculated?

The payment calculation is $10 for every $1,000 borrowed. So if a member has a balance of $50,000, the monthly payment will be $500.

What is the maximum allowed?

Our maximum allowable combined loan to value is 85%.

Are there closing cost?

Closing cost is waived if a member takes an initial draw of $10,000 and keeps a balance on the HELOC for at least 90 days. Otherwise closing costs are estimated between $150 to $1,000.

Is there an annual fee?

There is no annual fee.

Is homeowners insurance required?

Proof of homeowners insurance is required.

Can I get an APCO Employees Credit Union Home Equity Line of Credit for property in any state?

No, Only Members who’s primary residence is located in the states of Alabama, Georgia, and Mississippi are eligible for an APCO Employees Credit Union Home Equity Line of Credit.

All About The APCO Home Equity Line of Credit

Learn all about the benefits of a HELOC, the process and some ways APCO Members utilize their HELOCs in this Q&A interview.