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 RatesMortgage Rates
| Term | 1.0% Origination Fee | APR |
|---|---|---|
| 15 year | 6.000% | 6.157% |
| 20 year | 6.250% | 6.376% |
| 30 year | 6.500% | 6.597% |
Rates as of: April 8, 2025 ** Rates, fees, and Annual Percentage Rates (APRs) displayed may change without notice. Actual rates, fees, and APRs may vary based on credit scores and other factors. Minimum down payment varies based on loan type selected. Mortgage loans are subject to closing costs. Loans with a Loan to Value (LTV) of 80% or higher are subject to Private Mortgage Insurance (PMI).