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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

Home Equity Loan Rates

Table data for Home Equity 3 in 1 Advantage Plan
 Rates effective 06-02-2020
Line of Credit and MasterCard Platinum Credit Card APR1 Payment per $1,0002 Alert Me
To 75% LTV (Prime - 1/2%) For new loan applications as of April 1st, 2020, the HELOC rates are subject to HFCU’s Floor Rate of 3.49%. 3.49% Varies Receive a notification when this rate changes
76% to 85% LTV (Prime + 1/2%) 3.75% Varies Receive a notification when this rate changes
Over 85% LTV (Prime + 1 1/2%) 4.75% Varies Receive a notification when this rate changes
Fixed Rate Advance - To 75% LTV Alert Me
Up to 5 years 3.99% $18.41 Receive a notification when this rate changes
5 to 10 years 4.49% $10.36 Receive a notification when this rate changes
10 to 15 years 4.74% $ 7.77 Receive a notification when this rate changes
15 to 20 years 5.49% $6.87 Receive a notification when this rate changes
Fixed Rate Advance - 76% to 85% LTV Alert Me
Up to 5 years 4.24% $18.53 Receive a notification when this rate changes
5 to 10 years 4.74% $10.48 Receive a notification when this rate changes
10 to 15 years 4.99% $7.90 Receive a notification when this rate changes
15 to 20 years 5.74% $7.02 Receive a notification when this rate changes
Fixed Rate Advance - Over 85% 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
Apply for a Home Equity Receive a notification when this rate changes
*For new loan applications as of April 1st, 2020, the HELOC rates are subject to HFCU’s Floor Rate of 3.49% 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

Outstanding and Friendly Service

5

Having recently applied for a home equity line of credit at Hanscom Federal Credit Union, I found the process seamless. The assistance provided by Carol, Assistant Branch Manager was outstanding as she guided me through the necessary paperwork flawlessly. It has been a pleasure to bank with HFCU over the years. Have never had an issue whatsoever.

Dedham, MA

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Excellent, well-organized, and simple to apply for and get

5

Great team. Easy to work with!

Boston

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Easy, Painless and Stress free

5

One of the best loan application experiences I have ever had with any Lender in over the past 30 years. Easy, painless and stress free!

Alexandria

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Best Loan we ever applied for! Great Value! Thanks!

5

Thanks to our Loan Officer Olga and Sue for all her assistance! They are great people at their job!

Beverly Mass

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Fast and Easy

5

I've had Hanscom since being stationed there in the early 90's. Always fantastic service, highly recommend.

Milford, MA

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Pleasant, easy experience!

5

Great Rd.,Bedford loan officer was efficient and excellent to deal with. It couldn't have gone better or been a better experience!

Melrose, MA

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Family like friendly service from start to finish

5

I have had home equity lines of credit with Hanscom twice in last 4 yrs. I was able to payoff and close one with a home refi then a year later applied for another . Both times the process was so easy and loan officer to manager at closing were friendly like family. I could tell they really wanted to help me achieve my financial goals. Even down to the branch teller when I made a large cash withdrawal I could tell enjoyed his job and taking care of my transaction. I will recommend HFCU to my friends and family.

Massachusetts

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Great Service

5

Highly recommend HCFS to anyone looking for a Loan

McLean

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Loan

5

Great service!

Salem NH

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The process was painless and was all about being convenient.

5

From start to finish they couldn't be more accommodating.

Boston

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Home Equity Reviews

4.8 249

96.5