3-in-1 Home Equity Advantage: hybrid fixed-rate, HELOC & card access

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3-in-1
HELOC Rates
Check our 3-in-1 Home Equity Advantage Rates

3-in-1 HELOC = More Flexibility!

Fast, flexibile access to your home’s equity
No application fees
No minimum draw requirements
No closing costs*

See 3-in-1 HELOC Rates

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* If you terminate your line within the first 24 months after closing, you will be responsible for closing costs. These costs generally range from $400–$700. Closing costs do not include any taxes (unless necessary).

What Are the 3 Key Features of Our 3-in-1 HELOC?

Line of Credit

Flexibility!

Borrow as often as you like, up to your approved limit. As you pay down the balance, your available credit increases.
Take any portion of your line, convert it to a fixed-rate advance and choose your repayment term. No application needed.
An interest-only payment option is available.

Fixed-Rate Advances

Stability!

Get the security of fixed payments by converting any or all of your line into a fixed-rate advance.
Get up to three fixed-rate advances at a time.
Each advance works like an installment loan with fixed payments for the term you choose.
Fix your rate anytime without an application; make your request in writing using email or secure messaging.

Credit Card

Low rates!

Convert a portion of your equity into a Platinum credit card.
Get the same great low rate you enjoy on your line of credit.
It’s convenient for making smaller draws or paying for ongoing projects.

Trust Hanscom to Tell It Like It Is

Tips

Make it a win-win!

For extra benefit, use your HELOC funds to boost other parts of your financial life.

Choose home improvement projects that make your home cozier and also to increase its value.

Consolidate high-rate debt to save money in interest and make it easier to manage your bills. You could save big!

Prepare for unexpected expenses by keeping part of your credit line available.

Now that’s smart and flexible!

Testimonials

Marilyn R. in Boxborough, MA:

The process and HFCU employees were helpful and always take time to review the process with you. I feel like they have my best interest at hand. I love the community feel of HFCU with better than big bank options.

Guidance

Should you use your home as collateral?

Real talk.

It’s important for you to understand the positives and negatives of borrowing against your home’s equity. In almost all cases, applying for, drawing from, and repaying the loan is a successful and satisfying experience. In some cases, though, the situation becomes unmanageable for borrowers and they may end up losing their home.

Carefully gauge your confidence in being able to make future payments and also consider the risk of a worst-case scenario. If you get into a difficult situation, take advantage of the financial guidance that HFCU offers to help improve your financial position. Even better, get in touch with us before you get into a jam.

Have questions? Need direction? We’d love to talk with you!

Here’s One Way You Could Use Your 3-in-1 HELOC

Let’s say that Tamara opens a variable rate 3-in-1 Home Equity Advantage with a limit of $100,000. She’s planning a kitchen remodel that’s expected to cost $50,000.

Tamara can:

Transfer $50,000 in funds from her variable-rate line of credit to pay the contractors for the project.
Lock in a fixed rate on that specific $50,000 balance owed for a set term, such as 10 years, to have predictable payments.
Request the associated Credit Card with a limit of $25,000 allowing for easy purchases at Home Depot and Lowes for kitchen renovation surpluses.
Keep the remaining $25,000 of her variable-rate line of credit available, allowing for flexibility on future projects.

What are your plans?

3-In-1 Home Equity Advantage