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 loans 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 04-26-2017
Line of Credit and MasterCard Platinum Credit Card APR1 Payment per $1,0002 Alert Me
To 75% LTV (Prime - 1/2%) 3.50% Varies
76% to 85% LTV (Prime + 1/2%) 4.50% Varies
Over 85% LTV (Prime + 1 1/2%) 5.50% 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
  • 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
 
4.8

(based on 83 reviews)

Ratings Distribution

  • 5 Stars

     

    (77)

  • 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 83 customers

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5.0

Love the 100% LTV option

By 

from Acton, MA

Verified Buyer

Comments about HFCU Home Equity Reviews:

This product was crucial in helping us afford our dream home. Thanks!

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5.0

HELOC

By 

from Leominster, mass

Verified Buyer

Comments about HFCU Home Equity Reviews:

Sara K. is awesome - talks to you, not down to you!

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5.0

Great value, easy to apply, and excellent customer service

By 

from Boston

Verified Buyer

Comments about HFCU Home Equity Reviews:

HFCU provides the best customer service and always helpful.

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5.0

Amazing

By 

from Boston

Verified Buyer

Comments about HFCU Home Equity Reviews:

Had an amazing experience. Spencer and Sara made this an unforgettable experience. I would probably never do business with any other bank. High level of attention and banking experience. Started with a lease purchase and ended with more than I could ever expect. Thank You Hanscom Credit Union. I will continue to tell all my friends of the best banking experience any could ever have.

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5.0

These guys are the BEST

By 

from Boston, MA

Verified Buyer

Comments about HFCU Home Equity Reviews:

I have been with HFCU since 2002 and I have had nothing but the best customer service, knowledgeable staff and helpful tips at every milestone I reach in life. They helped me purchase my first car, my first equity line, my tenants' security deposit...you name it, they have helped me with it (Thank you Patty T!) They offer the best rates around.

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5.0

Efficient Experience!!

By 

from Carver, MA

Verified Buyer

Comments about HFCU Home Equity Reviews:

Very efficient process with our HELOC! Very helpful, kind and accommodating staff

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5.0

HFCU - Excellent Service!

By 

from Boston MA

Verified Buyer

Comments about HFCU Home Equity Reviews:

I Have found HFCU to be an excellent credit union that has provided me with professional service with quality products throughout all stages of our transactions.

 
5.0

Great customer service!

By 

from Medway,MA

Verified Buyer

Comments about HFCU Home Equity Reviews:

Virginia made the process so pleasant. She stayed on top of all the paperwork and just made everything go along smoothly.

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5.0

Great Rates, Friendly Staff, Awesome CU

By 

from Atlanta, GA

Verified Buyer

Comments about HFCU Home Equity Reviews:

I applied for a HELOC and closed within 3 weeks. Our Loan officer Karen Mc Donald kept us appraised throughout the entire process. She was able to help us navigate issues that came up during the process, which could have been a potential dealbreaker if we had gone elsewhere. She even went out of her way to get Share account funded on time so as to ensure the HELOC closed on time. I have been in touch with other representatives from Hanscom and all of them seem to be very knowledgable and helpful in what they do. I would definitely recommend them to a friend / family.

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2.0

Cumbersome process

By 

from Boston

Verified Buyer

Comments about HFCU Home Equity Reviews:

The process to obtain this HELOC was cumbersome and frustrating. It was a fairly quick process but it felt difficult to get a call back with the right answers. And I had a difficult time getting online access. I have faxed in the form and no communication after that so I still can not get access. I would still recommend your institution to others, but with the caveat that it may be a difficult process.

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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.