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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 08-20-2019
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 4.74% $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

I am very pleased with the whole process. My agent was aweso

5

My agent was awesome, she was friendly/kind. It wasn't like business.

Hanscom AFB

true

What an AMAZING, EASY experience

5

I worked with Lucy B. who provided outstanding service, kept us updated throughout the process and was always available to answer questions. She went out of her way to provide us with a great product, worked with us to close at a location convenient to us and was professional and courteous at every turn. My loan was closed within a couple of weeks and we coudn't be happier!

Mansfield MA

true

Couldn't be easier!

5

The entire team at Hanscom was great to work with - clear, quick communication, without the hassle of the big commercial banks. Highly recommend.

Boston, MA

true

NICELY DONE !

5

VERY HAPPY WITH THE WHOLE PROCESS ! Jennifer Godin explained everything very well and knows her field without flaw!

MASS

true

Don't expect much help

1

Since this review refers to the Home Equity only, I hesitate to qualify my disappointment. In general, I'm pleased with HFCU service and don't want to steer anyone away from this credit union. I've been a member for so long, I don't remember when I joined. However, my latest experience was not up to your usual standards. A telephone call to that department informed me there was no one available at that time to help me. I left a message. The next day someone called and left a message for me. She identified herself (and if I was interested enough) I probably could have replayed the message several times to understand her name and most of what she was saying. I was told I could find the information I wanted by accessing their e-site. Not a very nice "we're here to help" message. She spoke too fast and I felt she was giving me a fast "brush-off." I was annoyed with this message and decided to simply forget it. However, since you asked....

Harvard, Massachusetts

false

Great staff

5

Great, friendly experience

Massachusetts

true

Just what we expected!

4

Julie made the process easy and smooth!

New Hampshire

true

Convenient accessible funds when you need it most!

5

Well pleased indeed, great service and reasonable terms and rates, thank you.

Cape Cod, MA

true

Awesome service

5

Thank you Carol for your guidance and great customer service.

Plymouth

true

#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

Home Equity Reviews

4.8 219

97.2