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.
  • Automatic enrollment in MemberPoints lets you earn free gift cards, brand-name merchandise and great travel rewards on purchases.

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

Home Equity Rates

Table data for Home Equity 3 in 1 Advantage Plan
 Rates effective 10-18-2018
Line of Credit and MasterCard Platinum Credit Card APR1 Payment per $1,0002 Alert Me
To 75% LTV (Prime - 1/2%) 4.75% Varies Receive a notification when this rate changes
76% to 85% LTV (Prime + 1/2%) 5.75% Varies Receive a notification when this rate changes
Over 85% LTV (Prime + 1 1/2%) 6.75% Varies Receive a notification when this rate changes
Fixed Rate Advance - To 75% LTV Alert Me
Up to 5 years 4.24% $18.53 Receive a notification when this rate changes
5 to 10 years 4.74% $10.48 Receive a notification when this rate changes
10 to 15 years 4.99% $7.90 Receive a notification when this rate changes
15 to 20 years 5.99% $7.16 Receive a notification when this rate changes
Fixed Rate Advance - 76% to 85% LTV Alert Me
Up to 5 years 4.49% $18.64 Receive a notification when this rate changes
5 to 10 years 4.99% $10.60 Receive a notification when this rate changes
10 to 15 years 5.24% $8.03 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 - Over 85% 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 6.49% $7.45 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

Best service

5

I always like doing business with you. Your service is amazing.

Salem, MA

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Everything banking

5

I was so surprised on the quick turn around to get approved for a loan. Staff were so kind & friendly & they even offered different loan plans that was suited for me.

Ma

Great service!

5

Excellent!

Framingham, MA

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Great service, less red tape, accomodating

5

Hanscom Credit Union treated me as a valuable new potential customer, not as an annoyance, like some of the bigger banks did. Was approved in less time than the big banks would have done. It went so well, I bought my loan representative flowers !

Bedford, MA

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Great value and staff that always works with you

5

Abian always does an exceptional job

Reston, VA

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Great service w/my equity loan

5

I had such an easy time applying and working with the loan officer with this process. Highly recommended. I did not like the company who was brought in to value my house. I didn't agree with them but the credit union was great.

Leominster MA

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the service is good

4

the account opening is a little bit confusing. I have to try several times to get it set up.

San Jose CA

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Fast and easy home equity loan

5

The loan application is fast, easy, painless and hassle free. So happy to get it done.

Lexington, MA

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HFCU is my go to financial institution

5

I have been a member of HFCU since 1974. It is the only bank I have and will only have. Why? Because of the great service, the extra mile they go to help you, competitive rates, low required account balance, and I could go on an on. HFCU has always been there when I needed guidance or a loan.

Nashua NH

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exceptional

5

HFCU has an excellent team of loan officers. Very thankful for the assistance provided.

Boston, MA

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Home Equity Reviews

4.9 180

99.1