Home Equity

Get fast, flexible access to your home's equity

Overview

Our 3 in 1 Advantage Plan is an equity line of credit, with options for fixed loans and a convenient credit card in one handy package.

  • No application fees
  • No minimum draw requirement
  • No closing costs*



Line 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 Card

  • Convert a portion of your equity into a Platinum credit card.
  • Get the same great low rate you enjoy on your line of credit.
  • Automatic enrollment in MemberPoints lets you earn free gift cards, brand-name merchandise and great travel rewards on purchases.



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Rates

Home Equity 3 in 1 Advantage Plan

  •  Rates effective 05-23-2017
Line of Credit and MasterCard Platinum Credit Card APR1 Payment per $1,0002 Alert Me
To 75% LTV (Prime - 1/2%) 3.50% Varies
76% to 85% LTV (Prime + 1/2%) 4.50% Varies
Over 85% LTV (Prime + 1 1/2%) 5.50% Varies
Fixed Rate Advance - To 75% LTV Alert Me
Up to 5 years 3.99% $18.41
5 to 10 years 4.74% $10.48
10 to 15 years 4.99% $7.90
15 to 20 years 5.99% $7.16
Fixed Rate Advance - 76% to 85% LTV Alert Me
Up to 5 years 4.24% $18.53
5 to 10 years 4.99% $10.60
10 to 15 years 5.24% $8.03
15 to 20 years 6.24% $7.30
Fixed Rate Advance - Over 85% LTV Alert Me
Up to 5 years 4.49% $18.41
5 to 10 years 5.24% $10.72
10 to 15 years 5.49% $8.17
15 to 20 years 6.49% $7.45
Apply for a Home Equity
Rates shown are for members with the best credit profile. Other rates are available, based on your credit history. Contact Member Services at 800-656-4328 for rate details.

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
  • 1APR=Annual Percentage Rate.
  • 2Repayment amounts will vary depending on the term. This example is estimated for the maximum term.

Home Equity Early Disclosure / Terms

Non-usage Fee: During the draw period, when there are no advances taken for any twelve (12) consecutive months following your anniversary date, you agree to pay the Lender a Non-Usage fee of $50.00.

Reviews

REVIEW SNAPSHOT®

by PowerReviews
HFCUHome Equity Reviews
 
4.9

(based on 88 reviews)

Ratings Distribution

  • 5 Stars

     

    (82)

  • 4 Stars

     

    (2)

  • 3 Stars

     

    (2)

  • 2 Stars

     

    (1)

  • 1 Stars

     

    (1)

100%

of respondents would recommend this to a friend.

Pros

No Pros

Cons

No Cons

Best Uses

No Best Uses
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Reviewed by 88 customers

Displaying reviews 1-10

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5.0

Great experience

By 

from Boston

Verified Buyer

Comments about HFCU Home Equity Reviews:

Another great experience.

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5.0

Excellent value, professional & friendly service

By 

from New Englan

Verified Buyer

Comments about HFCU Home Equity Reviews:

Excellent value, professional & friendly service

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5.0

Excellent Customer Service & Great Rates

By 

from Natick, Ma

Verified Buyer

Comments about HFCU Home Equity Reviews:

I'm very pleased with my experience with Hanscom Federal Credit Union. In the past i had refinanced one car loan and currently refinanced my home equity line of credit with hfcu. They lowered my rates substantially and made the process of changing over so simple and hassle-free. Everyone I have worked with in person or over the phone have been so helpful and friendly. Almost all of my coworkers use this credit union and I recommend it highly.

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5.0

Very competitive rates

By 

from Chelmsford Ma

Verified Buyer

Comments about HFCU Home Equity Reviews:

The service at the Billerica Branch was fast and the conversion process to a new fixed rate was exceptionally simple. Great job !

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5.0

Prompt efficient and professional service

By 

from Roslindale

Verified Buyer

Comments about HFCU Home Equity Reviews:

Nothing needs to be changed to have made my experience better

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5.0

Love the 100% LTV option

By 

from Acton, MA

Verified Buyer

Comments about HFCU Home Equity Reviews:

This product was crucial in helping us afford our dream home. Thanks!

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5.0

HELOC

By 

from Leominster, mass

Verified Buyer

Comments about HFCU Home Equity Reviews:

Sara K. is awesome - talks to you, not down to you!

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5.0

Great value, easy to apply, and excellent customer service

By 

from Boston

Verified Buyer

Comments about HFCU Home Equity Reviews:

HFCU provides the best customer service and always helpful.

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5.0

Amazing

By 

from Boston

Verified Buyer

Comments about HFCU Home Equity Reviews:

Had an amazing experience. Spencer and Sara made this an unforgettable experience. I would probably never do business with any other bank. High level of attention and banking experience. Started with a lease purchase and ended with more than I could ever expect. Thank You Hanscom Credit Union. I will continue to tell all my friends of the best banking experience any could ever have.

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5.0

These guys are the BEST

By 

from Boston, MA

Verified Buyer

Comments about HFCU Home Equity Reviews:

I have been with HFCU since 2002 and I have had nothing but the best customer service, knowledgeable staff and helpful tips at every milestone I reach in life. They helped me purchase my first car, my first equity line, my tenants' security deposit...you name it, they have helped me with it (Thank you Patty T!) They offer the best rates around.

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*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.