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Home Equity

Our Home Equity Plan includes a home equity line of credit, with options for fixed loans and a convenient credit card in one handy package.

Lines of Credit

  • 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.
  • Interest-only payment option available.

Fixed Rate Advances

  • 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.

Credit Cards

  • Convert a portion of your equity into a Platinum credit card.
  • Get the same great low rate you enjoy on your line of credit.

No Application Fees

No Minimum Draw Requirements

No Closing Costs*


*If you terminate your line within the first 24 months after closing, you will be responsible for closing costs.
Please refer to the Closing Cost Addendum you received at loan closing for the total amount of your closing costs.

Contact Us

Complete the form below and a member of our team will contact you and answer your home equity questions. You can also visit any branch location or call us at 800-656-4328.






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FAQs

What is a Home Equity Advantage Plan?

Do I need an appraisal to get a Home Equity?

What are the closing costs with a Home Equity?

Home Equity Rates

Table data for Home Equity 3 in 1 Advantage Plan
 Rates effective 12-08-2019
Line of Credit and MasterCard Platinum Credit Card APR1 Payment per $1,0002 Alert Me
To 75% LTV (Prime - 1/2%) 4.25% Varies Receive a notification when this rate changes
76% to 85% LTV (Prime + 1/2%) 5.25% Varies Receive a notification when this rate changes
Over 85% LTV (Prime + 1 1/2%) 6.25% Varies Receive a notification when this rate changes
Fixed Rate Advance - To 75% LTV Alert Me
Up to 5 years 4.49% $18.64 Receive a notification when this rate changes
5 to 10 years 4.99% $10.60 Receive a notification when this rate changes
10 to 15 years 5.24% $8.03 Receive a notification when this rate changes
15 to 20 years 5.99% $7.16 Receive a notification when this rate changes
Fixed Rate Advance - 76% to 85% LTV Alert Me
Up to 5 years 4.74% $18.75 Receive a notification when this rate changes
5 to 10 years 5.24% $10.72 Receive a notification when this rate changes
10 to 15 years 5.49% $8.17 Receive a notification when this rate changes
15 to 20 years 6.24% $7.30 Receive a notification when this rate changes
Fixed Rate Advance - Over 85% LTV Alert Me
Up to 5 years 4.99% $18.87 Receive a notification when this rate changes
5 to 10 years 5.49% $10.85 Receive a notification when this rate changes
10 to 15 years 5.74% $8.30 Receive a notification when this rate changes
15 to 20 years 6.49% $7.02 Receive a notification when this rate changes
Apply for a Home Equity Receive a notification when this rate changes
Contact Member Services at 800-656-4328 for rate details. Hanscom FCU offers Home Equity Plans on primary residences to our members nationwide, with the exception of Texas, Alaska, Hawaii, and New York.

The plan allows up to three fixed rate advances from your line at any given time during the 10 year draw period. 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 (if necessary). Interest begins accruing upon loan disbursal. Check with your tax adviser about tax deductibility of interest. Homeowners insurance is required. Total Mortgages/Property Value = LTV. Maximum allowed CLTV may vary by state.
  • 1APR=Annual Percentage Rate. Rates shown are the lowest possible rates currently offered. Other rates are available, based on your credit profile and loan terms.
  • 2Repayment amounts will vary depending on the term. This example is estimated for the maximum term.

Real Reviews from Real Hanscom FCU Members

Super easy process!!

5

We applied for a 3-1 heloc and the process was straight forward and fairly simple.

Massachusetts

true

HELOC Loan

5

Fantastic and quick process from start to finish. Ashley was very helpful and made sure everything went as smoothly as possible.

Massachusetts

true

Great

4

Had good experiences, loan officer was great

Ct

Home Equity Loan Process

5

Worked with Carol at Hanscom AFB in getting an increase in an existing HELOC. Super nice, professional and responsive. I'd work with these folks before going to a bank. And the rates were really good!

Connecticut

true

Experienced Professionals

5

I am quite pleased with the service, products, and kindness of the HFCU Professionals for my financial needs. Abian, my Loan Specialist, has consistently demonstrated how she is in my best interest during the life events I have experienced throughout my time with HFCU. I am very pleased.

Arlington, Va

true

Good assistance from your staff overall.

4

My wife and I have been Hanscom members for several years and had several loans approved. However, your internal information sharing process could be improved. During the loan application process I was required to provide information or explain facts that should have been available to your staff by looking at our account information and loan history.

Westchester, Illinois

true

Fees

2

Fees never disclosed until closing. Much higher that other offers I reviewed. Issues with first payment on autodebit that have not been addressed.

Oak lawn IL

false

Excellent Customer Service

5

The staff were extremely helpful and knowledgeable. Megala ensured that I received the best rate and terms for my loan.

VA Brockton

true

great bank, thank you!

4

thank you, loan process was super easy and fast, thank you!

fremont, ca

true

Great Experience!

5

Excellent service! I have taken out several loans throughout the years and am always happy with the results. I would definitely recommend their services.

Hyannis, Ma.

true

Home Equity Reviews

4.8 230

96.8