What is a HELOC?

HELOC stands for “Home Equity Line of Credit.” A HELOC is a revolving line of credit based upon the equity you have in your home. You can access the funds when you need them over time.

Best for:

• Home Improvement
• Debt Consolidation
• Payoff Student Loans
• Other Large or Unexpected Purchases for Your Home

With a HELOC, you can also:

• Draw available funds for up to 10 years from the date you open your line. After the draw period ends, repayment term is 20 years
• Advance funds at your convenience on your time. Transfer funds when you log in to your AFCU account or with convenient checks just for your HELOC
• Funds become available as you repay principal during the draw period
• For no fee, convert balances of $5,000 or more to a fixed rate and choose a repayment term that fits your budget—up to 20 years. You can lock-in balances to a fixed rate up to three times during the draw period of your loan without needing to reapply.

Enjoy the Convenience of a HELOC

• Only pay for what you use on your line of credit.
• Intro rate of 1.99% APR¹ for 6 months and then Prime -.10%. ²
• Refinance existing Mortgages / Home Equity Loans.
• Set up account activity notifications through Online Banking
• Possible tax advantages. Consult with your tax advisor to determine eligibility