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Mobile Deposits
Make check deposits 24/7 from your mobile device or computer. Learn moreHome 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.
Rates
Home Equity 3 in 1 Advantage Plan
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| 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. |
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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(based on 127 reviews)
Ratings Distribution
5 Stars
(119)
4 Stars
(2)
3 Stars
(4)
2 Stars
(1)
1 Stars
(1)
98%
of respondents would recommend this to a friend.
Ratings Distribution
5 Stars
(119)
4 Stars
(2)
3 Stars
(4)
2 Stars
(1)
1 Stars
(1)
Pros
Cons
Best Uses
- Loan process and service:
- Approval time:
- Value, rate & terms:
- Ease of applying:
Reviewed by 127 customers
Displaying reviews 1-10
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Main office great, satellite so so
By Dre
from Danvers,ma
Comments about HFCU Home Equity Reviews:
My options for payment weren't really explained or offered. I would have liked to know my options. This issue only occurred with the satellite branch. The main office is exceptional and I thought I would receive the same care with a branch closer to home. I was wrong.
- Loan process and service:
- Approval time:
- Value, rate & terms:
- Ease of applying:
Bottom Line Yes, I would recommend this to a friend
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Easy, fast, professional
By Lisa
from McLean, VA
Comments about HFCU Home Equity Reviews:
Unsure of the value, rate and terms. But it was easy and the loan officer generously offered advice that will help in the future.
- Loan process and service:
- Approval time:
- Ease of applying:
Bottom Line Yes, I would recommend this to a friend
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Easy, peazy
By Liz
from Boston, MA
Comments about HFCU Home Equity Reviews:
Belkis B is knowledgeable, professional, and made me feel valued. The process went smoothly.
- Loan process and service:
- Approval time:
- Value, rate & terms:
- Ease of applying:
Bottom Line Yes, I would recommend this to a friend
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The Entire Staff at Hanscom are Great!
By Tom D
from Buffalo, NY
Comments about HFCU Home Equity Reviews:
Stephanie and Allision have been given amazing guidance and their knowledge to make sure that I fully understand the process and guide me on my future financial well being!
- Loan process and service:
- Approval time:
- Value, rate & terms:
- Ease of applying:
Bottom Line Yes, I would recommend this to a friend
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Professional and personalized service
By Kelly the bass player
from McLean, VA
Comments about HFCU Home Equity Reviews:
I've been a member for many years and I've obtained several auto, home equity, and other loans from HFCU. You always have good rates and make the application process as painless as possible. I have obtained several loans, including a recent home equity loan, through Abian F. She is a true professional, and has always been very helpful and pleasant--please don't let her get away!
- Loan process and service:
- Approval time:
- Value, rate & terms:
- Ease of applying:
Bottom Line Yes, I would recommend this to a friend
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Great value, fast and easy
By Investor
from Lowell MA
Comments about HFCU Home Equity Reviews:
Branch manager Patty at Billerica location did a terrific job in closing my HELOC loan.
- Loan process and service:
- Approval time:
- Value, rate & terms:
- Ease of applying:
Bottom Line Yes, I would recommend this to a friend
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Super Helpful & Great Pricing
By Tom
from Holliston, MA
Comments about HFCU Home Equity Reviews:
Staff was very responsive to our needs. We wouldn't ever consider somewhere else for our financial needs.
- Loan process and service:
- Approval time:
- Value, rate & terms:
- Ease of applying:
Bottom Line Yes, I would recommend this to a friend
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Home Equity line of credit
By Seahorse214
from Franklin, MA
Comments about HFCU Home Equity Reviews:
Rhonda handled everything very professionally. I was guided through the process every step of the way since this is the first time I have done a second mortgage of any kind.
Bottom Line Yes, I would recommend this to a friend
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Fast and easy
By Nena
from Mitre
Comments about HFCU Home Equity Reviews:
The loan process was very easy and great rate.
- Loan process and service:
- Approval time:
- Value, rate & terms:
- Ease of applying:
Bottom Line Yes, I would recommend this to a friend
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great working with HFCU!
By Linda
from Newton, MA
Comments about HFCU Home Equity Reviews:
Sara K. was the best!
- Loan process and service:
- Approval time:
- Value, rate & terms:
- Ease of applying:
Bottom Line Yes, I would recommend this to a friend
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Home Equity FAQs
Home Equity FAQs - How long will it take to process the loan?
Home Equity FAQs - Do you require an appraisal for Home Equity Loans?
Home Equity FAQs - Home Equity Loan vs. Home Equity Line of Credit
Home Equity Lines of Credit - Better Safe than Sorry!
Your HELOC is a matter of public record, treat it accordingly.
*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.