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 rate advances 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 06-24-2017
Line of Credit and MasterCard Platinum Credit Card APR1 Payment per $1,0002 Alert Me
To 75% LTV (Prime - 1/2%) 3.75% Varies
76% to 85% LTV (Prime + 1/2%) 4.75% Varies
Over 85% LTV (Prime + 1 1/2%) 5.75% 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. Maximum allowed CLTV may vary by state.
  • 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 94 reviews)

Ratings Distribution

  • 5 Stars

     

    (88)

  • 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 94 customers

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5.0

Fast

By 

from Burlington

Verified Buyer

Comments about HFCU Home Equity Reviews:

Diana was excellent!

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5.0

Easy

By 

from Walpole ma

Verified Buyer

Comments about HFCU Home Equity Reviews:

Would not go anywhere else

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5.0

Lucy was helpful, courteous and professional!

By 

from Boston

Verified Buyer

Comments about HFCU Home Equity Reviews:

I can not remember having such a terrific experience Lucy took the time to explain my equity line completely so I had the proper program to lower my monthly debt substantially. She even took the time to meet with me after 3 pm, which was closing time and spent an hour with us to finish up the paperwork. It is because of employees like Lucy that HFCU is such a great Bank. I plan to tell anyone I can about the great people at HFCU and how special we were treated.

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5.0

Easy process and very communicative

By 

from Medford, MA

Verified Buyer

Comments about HFCU Home Equity Reviews:

Diana was fantastic to work with. Made everything super easy and explained everything along the way. They will take the time to find the market value of your home and not just used the tax assessed value.

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5.0

I will recommend HFCU to my friends

By 

from San Francisco, VA

Verified Buyer

Comments about HFCU Home Equity Reviews:

Thanks a lot to Carol at Main Office for her wonderful services.

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5.0

Great Service

By 

from Sandown nh

Verified Buyer

Comments about HFCU Home Equity Reviews:

Carole was a great help!

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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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*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.