Home Equity Lines of Credit (HELOC)
Access funds when you need them with a flexible Home Equity Line of Credit (HELOC). Competitive Michigan rates and personalized service await!
Why Choose a HELOC from Community Financial Credit Union?
A Home Equity Line of Credit (HELOC) lets you borrow against the equity in your home and access funds as needed. Enjoy competitive rates, flexible repayment terms, and the benefits of working with a credit union that puts you first. Whether you're consolidating debt, funding home improvements, or covering unexpected expenses, a HELOC can be the perfect solution.
With a HELOC from Community Financial Credit Union, you can access funds when you need them. Unlike traditional loans, you only pay interest on the amount you borrow, not the full line of credit.
Apply Today
Our flexible terms and competitive rates ensure you save money while achieving your financial goals.
About HELOCs
How Do HELOCs Work?
A Home Equity Line of Credit (HELOC) offers flexible access to funds, sorta like a credit card—get approved for a specifc amount, borrow what you need, and only pay interest on the amount you acutally use. As you pay your balance back, that credit becomes available again for future use.
Our HELOCs feature a variable rate and a 5-year draw period and a 20-year repayment term. While in the draw period, your required minimum payment is just the interest you’ve accrued in the previous billing cycle!
Great Features
- Local and Member-Focused: At Community Financial, you're not just a customer—you're a member. We offer personal service to help you make the most of your home’s equity.
- Lower Rates & Fees: As a credit union, we can offer better terms than traditional banks, helping you save more over time.
- Community Investment: Your success helps support local growth and community initiatives.
Home Equity Loan Rates
Date Updated May 1, 2025
APR as low as* |
|---|
Variable Rate HELOC |
7.00% |
Fixed Rate HE Term Loans |
7.24% |
*Home Equity Lines of Credit: The variable rate of 7.00% Annual Percentage Rate (APR) is based on a $25,000+ line of credit, 80% Loan to Value (LTV) and an excellent credit score. Estimate assumes a .25% rate discount given when payments are automatically deducted from a Community Financial checking account. Rates are based on the published Wall Street Journal Prime Rate and subject to change without notice. Additional rates available based on loan amount, LTV and individual credit history. Maximum rate 25.00% APR, minimum rate 2.00% APR. If you close your line of credit plan within the first 24 months you will be required to reimburse the credit union for the bona fide fees paid on your behalf.
Home Equity Term Loans - APR is based on $25,000 loan amount, for 60 months, with 80% LTV, and an excellent credit score. Estimate assumes a .25% rate discount given when payments are automatically deducted from a Community Financial checking account. Actual rate based on loan amount, LTV, term and individual credit history.
Frequently Asked Questions
HELOC FAQ
Get answers to your questions about HELOCs.
Home Equity Loan Options
Home Equity Loan Options
Prefer a home equity term loan instead?
If you’re looking for a one-time lump sum with fixed rates and predictable payments, a Home Equity Loan might be the right choice for you. Secure a specific amount of money upfront and pay it back over a set term with a fixed interest rate. It’s a great option for those who know exactly how much they need and prefer the certainty of fixed payments.
Home is where the Belonging is
News
Expanding and Preserving Homeownership in Otsego-Antrim Habitat for Humanity
Home repair is a critical part of ensuring safe and stable housing for individuals and their families. The Relentless Care Foundation is honored to support Otsego-Antrim Habitat for Humanity with a $10,000 grant to further their critical home repair program.
News
Expanding Access to Affordable Housing in Michigan
CFCU and the Relentless Care Foundation partnered with Samaritas to expand access to affordable housing across Michigan.
News
Advancing Affordable Housing Development with CEDAM
The Relentless Care Foundation awarded a $20,000 grant to the Community Economy Development Association of Michigan, CEDAM, a nonprofit association that works to build vibrant communities across Michigan, supporting them in their efforts to expand access to affordable housing, drive greater economic growth, and increase household wealth.
Apply for a HELOC Today
Whether you're looking to consolidate debt, make home improvements, or cover unexpected expenses, our competitive rates and personalized service make accessing the equity in your home easier than ever.
Current Mortgage Holders
Need help with an existing mortgage?
If you need to chat about your current CFCU mortgage, our mortgage servicing team is here for you!
Loans From CFCU
Other loan options
Looking for a different kind of loan? We offer a wide range of borrowing solutions to fit your needs, including personal loans, home equity lines of credit, and more.
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What We Do
Making Impossible Dreams come true on the daily.
Wherever you are on your financial journey, you Belong here.
