Home Equity Line of Credit

Big Things Can Happen With A Home Equity Line Of Credit 

Whether you’re installing a pool, replacing a roof, paying medical bills or even going on that once-in-a-lifetime trip, a credit line tied to the equity in your home is a great option.  

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Why Is This The Best Loan For Me?

Beach Municipal FCU's HELOC features:

  • Low, variable interest rates.
  • Borrow up to 90% of your home's value.
  • Owner-Occupied and Non-Owner Occupied options.
  • No closing costs!***

Home Equity Line of Credit Benefits

A HELOC offers many potential benefits:

  • Secured by your home as collateral, which usually results in lower interest rates than unsecured debt.
  • Ability to borrow only what you need.
  • Only pay interest on the amount borrowed.
  • Flexibility of a traditional line of credit with the benefit of tax advantages.1 

What is a Home Equity Line of Credit?

A Home Equity Line of Credit, or HELOC, is a type of loan that allows you to borrow money against the equity in your home. Equity, or Home Equity, is the difference between the market value of your home and how much is still owed on your mortgage.

A HELOC, like a credit card, is a revolving line of credit. That means you can borrow money as needed and repay it as you go. As you pay down the balance, that equity is freed up for you to borrow again, quickly and easily. You can access the money all at once or on an as-needed basis. 

Home Equity Lines of Credit Rates

Home Equity Lines of Credit Rates*
Effective Date: Sunday, October 1, 2023
TypeLoan To ValueAnnual Percentage Rate
Apply Online
HELOC Up to 90% 8.50% - 13.50%

Rates apply to owner-occupied property only. For investment or unimproved property rates and terms, or for LTVs above 90%, please contact the Mortgage Department.

LTV = Loan To Value.
APR = Annual Percentage Rate.

Rates are accurate as of the effective date above and are subject to change without notice. Fees and closing costs may be incurred. Fee amounts based on appraisals, loan amount, flood certifications, title insurance and other determining factors. Rates may vary based on credit score, loan term and amount and collateral conditions (LTV). Please contact the Mortgage Department for complete details. Maximum APR is 18.00%. Minimum APR not to go below our current floor rate of 4.00%.  

*Variable equity line rate is based on the index of prime plus margin. Prime as of 08.15.2023 = 8.50%. Rate is subject to change quarterly.

**The Credit Union pays all closing costs except for the appraisal fee. Reimbursement of all closing costs required if the loan is paid off and closed within two years of funding. 

HELOC Payment Examples
Up to 90% LTV based on a loan amount of $50,000.
Maximum payment of $625 for all rates.
HELOC payment is based on $12.50 per $1,000 borrowed with a minimum payment of $100.

1Please consult your tax advisor for details and eligibility.