Temporary Changes to Branch Availability

All branches are closed Thursday, November 26, 2020, in observance of Thanksgiving Day. 

Click here to see temporary changes to branch availability at our Bedford, Cambridge (Mt. Auburn Hospital), Concord, Dorchester (South Bay Center), JFK, McCormack, MITRE Bedford, MITRE McLean (Virginia), Moakley, Natick, and O'Neill branches.

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 11-25-2020
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

Easy application process; great communication throughout!

5

This home-equity loan could not have been easier on any front, and the pricing is as competitive as you can find anywhere in today's market.

Wilmington, Ma

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Excellent service

5

Great to work with and an easy process.

Ayer, MA

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Great service and fast

5

I took out a home equity loan because i needed a new furnace and A/C unit. They had a bank in my work area and thought i would check it out. Carol was nice and very informative and help with applications and procedures

Franklin Massachusetts

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Very good service.

5

The approval process for the HELOC was fast and relatively easy. I was very pleased with the service.

Boston, MA

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Fast and easy

5

Easy to apply and quick approval. Very satisfied.

Bedford, MA

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Easiest loan process ever.

5

While most banks are asking for the blood of your first born before they approve your loan, HFCU makes the process simple and easy to refinance your mortgage or Home Equity Line of Credit. I gave them the same exact information I did with "America's Bank" without naming any names, and got a different and better result. Great CU to bank on when you are trying to optimize all of your financial needs.

Atlanta, GA

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Great service!

5

The rate I got is a little higher than I was hoping for. But, I'm overall happy my loan. My loan officer Ashley was great! She was very knowledgeable, very responsive, and very accommodating. I was able to close my loan quickly.

Boston, MA

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Outstanding people, Outstanding Service-

5

Ashley was outstanding and wonderful to work with her and her staff. Friendly, warm and understanding Ashley also helped me with Car Loan and she was outstanding.

Merrimack, NH

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Great and easy

5

Thank you for your help and support

Boston

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Great service. Appointment went very smoothly and efficientl

5

Very satisfied.

Bedford, MA

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Home Equity Reviews

4.8 285

96.2