Second
Leverage Your Equity2nd Mortgages
If you’re looking to tap into the equity you’ve built in your home, a second mortgage may be the perfect solution. At Hercules First Federal Credit Union, we offer both Second Mortgages to help you finance home improvements, consolidate debt, or cover other major expenses—all while keeping your first mortgage intact.
Key Features
Access Your Home’s Equity
Use the funds for home renovations, debt consolidation, education expenses, or anything else you may need.
Fixed-Rate Options
Lock in a low, consistent rate that won’t change throughout the term of the loan, providing you with predictable monthly payments.
Competitive Rates
Take advantage of some of the best rates available for second mortgages, helping you save money over the life of the loan.
Flexible Terms
Choose a loan term that works best for your budget and goals.
No Prepayment Penalties
Pay off your second mortgage early without any additional fees.
HELOC
HELOCHome Equity Line of Credit (HELOC)
A Home Equity Line of Credit (HELOC) from Hercules First Federal Credit Union is a flexible and affordable way to tap into your home’s equity. Whether you’re funding home renovations, consolidating debt, or covering other significant expenses, a HELOC offers you the freedom to borrow what you need when you need it—without the hassle of applying for a new loan every time.
Key benefits of a Hercules
First Federal Credit Union home
equity line of credit (HELOC)
Looking for a convenient revolving source of funds, similar to a credit card? Our HELOC is an outstanding option at a lower rate.
- Borrow, repay and borrow again without reapplying.
- This line of credit comes with a variable APR₁
- Interest-only options available during the 10-year draw period.
- Receive up to 80% combined loan-to-value financing.
- Pay no fees or closing costs on loans up to $250,000₂
Rate based on the prime rate as published in the Wall Street Journal. See terms for additional details.
Higher amounts available. See your Hercules loan professional for information.
Equity
Tap Into Your Home's EquityHome Equity Line of Credit (HELOC)
A Home Equity Line of Credit (HELOC) from Hercules First Federal Credit Union is a flexible and affordable way to tap into your home’s equity. Whether you’re funding home renovations, consolidating debt, or covering other significant expenses, a HELOC offers you the freedom to borrow what you need when you need it—without the hassle of applying for a new loan every time.
Key Benefits
Access to Funds as Needed
Borrow and repay funds as needed up to your approved credit limit, giving you the flexibility to manage your finances on your terms.
Competitive Rates
Enjoy lower interest rates compared to personal loans or credit cards, making it an affordable way to borrow.
Interest-Only Payments (During Draw Period)
In the initial draw period, you can opt to make interest-only payments, keeping your monthly payments lower.
Potential Tax Deductibility
Interest paid on a HELOC may be tax-deductible if used for home improvements (consult a tax advisor for details).
Flexible Loan Terms
Choose a repayment schedule that fits your budget, with the ability to borrow against your home’s equity for major projects, education, or other financial goals.
HELOC
HELOC optionsWhat We Offer
Flexible Access to Funds
Draw on your available credit line whenever you need it, without reapplying for a new loan each time.
Variable Rate Options
Choose between fixed or variable interest rates, depending on your preference and financial goals.
Draw Period:
During the draw period (10 years), you can access funds and make payments based on your usage, with the option for interest-only payments.
Repayment Period
After the draw period ends, the repayment period begins, and you’ll make principal and interest payments until the loan is paid off.
Apply Now
A HELOC is an ideal solution if you want ongoing access to funds with lower interest rates and greater flexibility than traditional loans. Whether you’re planning a home renovation, consolidating debt, or covering large expenses, Hercules First Federal Credit Union is here to guide you through the process. Contact our mortgage specialists today to see how a HELOC can help you achieve your financial goals.
Questions or Close a Mortgage
Book an Appointment to Speak to a Mortgage Specialist:
Rates
View Our Rates2nd Mortgage Rates
Rates current as of July 23, 2025
* Annual Percentage Rate. Rates and terms are based on creditworthiness, loan-to-value (LTV), occupancy, loan purpose and loan amount, so your rate and terms may differ. Up to 90% LTV financing is available on single family detached residences, and it is based on credit worthiness. All rates and terms quoted apply to properties that are occupied by the borrower.
Home Equity Lines – Fees, generally ranging from $50 to $1000 may be incurred depending on loan amount and loan-to-value (LTV). Maximum APR on variable rate is 18%.
Other rates & terms available, call for details.