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

What is a Home Equity Advantage Plan?

Do I need an appraisal to get a Home Equity?

What are the closing costs with a Home Equity?

Home Equity Rates

Table data for Home Equity 3 in 1 Advantage Plan
 Rates effective 06-25-2019
Line of Credit and MasterCard Platinum Credit Card APR1 Payment per $1,0002 Alert Me
To 75% LTV (Prime - 1/2%) 5.00% Varies Receive a notification when this rate changes
76% to 85% LTV (Prime + 1/2%) 6.00% Varies Receive a notification when this rate changes
Over 85% LTV (Prime + 1 1/2%) 7.00% Varies Receive a notification when this rate changes
Fixed Rate Advance - To 75% LTV Alert Me
Up to 5 years 4.74% $18.75 Receive a notification when this rate changes
5 to 10 years 5.24% $10.72 Receive a notification when this rate changes
10 to 15 years 5.49% $8.17 Receive a notification when this rate changes
15 to 20 years 6.24% $7.30 Receive a notification when this rate changes
Fixed Rate Advance - 76% to 85% LTV Alert Me
Up to 5 years 4.99% $18.98 Receive a notification when this rate changes
5 to 10 years 5.49% $10.97 Receive a notification when this rate changes
10 to 15 years 5.74% $10.97 Receive a notification when this rate changes
15 to 20 years 6.49% $7.60 Receive a notification when this rate changes
Fixed Rate Advance - Over 85% LTV Alert Me
Up to 5 years 5.24% $18.98 Receive a notification when this rate changes
5 to 10 years 5.74% $10.97 Receive a notification when this rate changes
10 to 15 years 5.99% $8.43 Receive a notification when this rate changes
15 to 20 years 6.74% $7.60 Receive a notification when this rate changes
Apply for a Home Equity Receive a notification when this rate changes
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

#1

5

Best Credit Union around. Lowest rates, best services, free checking, and annual bonus dividend payouts. What more can you ask for?!

Brockton

true

Best Customer Service! Quick processing!

5

The speed of this loan from the initial call until the final approval was unbelievable. The loan officer answered all my questions and provided plenty of information. I am very pleased!

Atlanta, GA

true

The Best in the Business

5

Anna handled my loan process. She was absolutely fantastic. She handled all matters professionally and quickly, plus kept me in the loop at all times.

North Reading, MA

true

Easy efficient process

5

Efficiently accommodated my needs

Virginia

true

DO NOT USE FOR HELOC

1

Horrible experience using Hanscom for our first HELOC. Application and Heloc closing process were easy and the manager we worked with was responsive and kept us updated. After the HELOC closing we did have to sign another form they had forgot. Then about a week after closing when we were expecting our loan to become available for use, we received notice that Hanscom was freezing our access to the loan (which we hadn't even used yet) because two mortgages (from the previous home-owners) still did not have discharges on record. Despite the fact that we have proof from our closing documents these mortgages for the prior owners were paid off at/before the primary closing, Hanscom will only allow us access to the credit line once discharges are recorded. Apparently they failed to check for outstanding liens on the property BEFORE the closing and decided to check and inform us only after our right to rescind the heloc ended. I would recommend using a company that knows how to properly check property titles and does so with due diligence before the closing so you have no surprises. After questioning Hanscom insisted this would not reflect badly on our credit report. However, the frozen Heloc does show up on our credit report with zero available credit. It would have been helpful to know about these missing discharges before they closed our loan, instead of having them fund a line then revoke access in the same day and report our line as zero to the credit agencies. Go with a company that knows what they are doing!

Boston, MA

false

Difficult getting response

3

Our phone calls and e-mails were not returned unless the agent needed something specific from us. We were not informed where in the process we were. We were told that our application was approved and signed papers.Then a week or so later, we were told that there'd been a problem with the title search. We were on vacation and had questions but weren't getting them answered. We got no assistance understanding what to do with getting previous lines of credit discharge.

Boston MA

5 STAR service!

5

My experience with Abian is always great. From analysis of request, patience, followup and professionalism, she is the best. No need to say anything else! Ken Wrable

Virginia

true

Always easy

5

Every service I have experienced from HFCU, whether it be car loan, mortgage, equity line, credit card, savings/checking have all been handled professionally, promptly with expert knowledge and true care and concern. Service Representatives suggest ways to improve savings, lower costs, new programs and have helped me establish on-line bill pay... and all with a friendly smile and genuine care. ALL my banking is at HFCU...since the early 60's, HFCU has been there for me. I HIGHLY recommend HFCU to EVERYONE I speak with about banking.

MA

true

Very pleased with HFCU!

5

I really couldn't be more happy with HFCU. I was referred by a friend who recently used their services for a home refinance and she was spot on with how quick and easy the process was. Despite living in VA and HFCU primarily serving MA, everything was completed quickly, with ease and on my timeline. Most everything was done online and when I had questions I always received a response via email. When I still wasn't sure and called, I was able to get in touch with Allison K. very quickly. The process was painless, efficient and definitely a product that fit my immediate needs! Glad to have found and used HFCU for my home refinance!

Clifton VA

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Very easy, clear and professional. Highly recommended.

5

Everything about this experience was easy. We did this mostly online with the exception of signing papers. The location was easily accessible and the process was quick.

New Hampshire

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Home Equity Reviews

4.8 210

97.8