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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 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.
Ratings Distribution
5 Stars
(88)
4 Stars
(2)
3 Stars
(2)
2 Stars
(1)
1 Stars
(1)
Pros
Cons
Best Uses
- Loan process and service:
- Approval time:
- Value, rate & terms:
- Ease of applying:
Reviewed by 94 customers
Displaying reviews 1-10
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Fast
By Cheryl
from Burlington
Comments about HFCU Home Equity Reviews:
Diana was excellent!
- 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
By M
from Walpole ma
Comments about HFCU Home Equity Reviews:
Would not go anywhere else
- 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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Lucy was helpful, courteous and professional!
By Southie Guy
from Boston
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.
- 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 process and very communicative
By D & D
from Medford, MA
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.
- 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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I will recommend HFCU to my friends
By May
from San Francisco, VA
Comments about HFCU Home Equity Reviews:
Thanks a lot to Carol at Main Office for her wonderful services.
- 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 Service
By SLAW
from Sandown nh
Comments about HFCU Home Equity Reviews:
Carole was a great help!
- 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 experience
By KA
from Boston
Comments about HFCU Home Equity Reviews:
Another great experience.
- 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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Excellent value, professional & friendly service
By Customer
from New Englan
Comments about HFCU Home Equity Reviews:
Excellent value, professional & friendly service
- 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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Excellent Customer Service & Great Rates
By Car3153
from Natick, Ma
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.
- 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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Very competitive rates
By Phil
from Chelmsford Ma
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 !
- 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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Displaying reviews 1-10
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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.