Unlock the Possibilities
Explore the benefits and start your journey today — it's your home's equity working for you!
Transform your home
Up to
$750,000
Up to 80% CLTV
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For Renovations
Add value to your home and make it your perfect oasis.
For Dreams
Ensure you have funds available for life's most cherished moments.
For Wellness
Pay off high-interest debts and simplify your finances.
Enjoy a 10-year draw period and 10-year repayment period1
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Frequently Asked Questions
What is Prime Rate and Margin when it pertains to my Member Rate?
A HELOC (Home Equity Line of Credit) prime rate is the interest rate that serves as a benchmark for setting HELOC interest rates. The prime rate is often tied to the federal funds rate set by the Federal Reserve, meaning it can fluctuate based on economic conditions and Federal Reserve policy changes.For a HELOC, the interest rate is typically expressed as the prime rate plus a margin. For example, if the prime rate is 8.75% and the margin is 0.25%, the HELOC rate would be 9.00%. This margin can vary based on the borrower's creditworthiness and the lending institution's policies.
Who is eligible for a HELOC?
Homeowners with equity in their homes. Take your home's value, and then subtract all amounts that are owed on that property. The difference is the amount of equity you have. For example, if you have a property worth $400,000, and the total mortgage balances owed on the property are $200,000, then you have a total of $200,000 in equity.2Are there fees I can expect with this process?
Estimated costs related to the process: Drive-by Appraisal ($400.00), Title Fees ($350.00-$450.00), Origination Fee ($60.00). Late payment charge will be 5.00% of payment amount. Enjoy NO FEES to apply for this product, annual service, or for pre-payment!Disclosures
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Rates quoted are the best possible rate for each tier based on credit score and other factors. Other rates and terms are available. The actual rate you qualify for will be based on credit history and other factors. Rates are subject to change without notice. Property must be owner-occupied. Payments can be made in branch, by phone, by mail, via online banking or direct deposit. 15-day grace period on payments. DFCU does business in accordance with the Federal Fair Housing Law and Equal Credit Opportunity Act and deposits are Federally Insured by NCUA. Additional restrictions apply. Please contact a DFCU Loan Representative for complete details and qualifying criteria. Other rates and terms are available.
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Please consult with a financial advisor regarding your specific situation. The statements provided are general guidelines.
