A little info and a few minutes are all we need.
Home Equity Lines of Credit (HELOC)
What if the next time you turned on the shower a stream of cash came out? That's kind of what a HELOC is like. We use the TLC you've shown your home as collateral for a line of credit, giving you access to affordable funds on tap. Spend as much or as little as you need — and pay interest only on what you use!
- Competitive rates for several ongoing or seasonal needs:
- Education expenses
- Major home improvements
- Emergency reserve
- And much more!
- The existing equity in your home is used as collateral backing
- Accommodating repayment terms that work uniquely for you
- Re-use without re-applying
- Easy access online, by phone, or in person
- The interest paid might be tax deductible*
- Debt Protection Plan available
- Local Western Washington decision-making and processing
- Helpful, customized service throughout the entire process
*APR = Annual Percent Rate. Subject to credit approval. Offer subject to change. Restrictions may apply. Home Equity Line of Credit (HELOC) has a variable rate based and subject to change during the term of the loan. The minimum monthly payment may change as a result of this rate change. Minimum $10,000 new loan or $10,000 cash out on EDCU refinance transactions. Lesser amounts are subject to a $350 origination fee. Maximum loan amount is determined by underwriting. Members without qualifying checking account will pay an origination fee equal to $35 per year the loan is amortized. We charge a Document Preparation Fee of $50 at opening and a $35 annual maintenance fee. You are also responsible for 3rd party fees that generally range from $275-$1,100. Contact the credit union for more details.
Introductory Rate: Introductory rate of 1.99% APR available for six months after the loan is funded. At the beginning of the seventh month, your regular rate will go into effect. Other terms, rates, and restrictions may apply. Variable rate Home Equity Lines of Credit are calculated at the rate specified, then adjusted quarterly based on the index plus a margin as indicated on the Home Equity Line of Credit (HELOC) Pre-disclosure. Maximum APR of 18%. Consult your tax advisor to see if the interest paid might be tax deductible. Offer valid through May 31, 2019.
Keeping Our Members Safe
Learn more about the Safe Act and what it means to our members.