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Our HELOC promotion is back! If you’re considering a HELOC, now is a great time to do it. In addition to our recently lowered rates, now through September 30th, all new HELOC applications are eligible for an introductory 5.99% APR for the first six months and the prevailing variable rate currently as low as 8.25% APR thereafter.*
A HELOC from DFCU Financial can be a great way to finance repairs and renovations for your home like that new kitchen or bathroom you've been wanting.
Home Equity Line of Credit (HELOC)
A variable-rate (second) mortgage loan secured by the equity in your home allows you to control the money. Access as much or little of your line of credit, or up to the line limit if you want, at any time. When you use the money, make interest-only minimum monthly payments, or pay off the balance and keep the line open. You control the payments.
HELOC features and benefits:
Some fees apply.
- $50 Home Equity Line of Credit Annual Fee
- Appraisal fee necessary to process the loan application (ask us for details)
| APR5 |
Max Fixed Term |
Max Variable Term |
Max CLTV |
| As low as 8.25% APR |
N/A |
N/A |
<=50% |
Rates effective as of 9/13/2024
*For NEW Home Equity Line of Credit (HELOC) applications. The promotional 5.99% APR is offered for the first six (6) months of the HELOC starting from the date the HELOC closes. Promotion excludes existing DFCU home equity product refinances. Rate Changes: The Annual Percentage Rate (APR) can change any time The Wall Street Journal Prime Rate changes. There is no limit on the amount by which the annual percentage rate can change during any one year period. The maximum APR that can apply is 18.0% or the maximum permitted by law, whichever is less. However, under no circumstances will your APR go below 3.25% at any time during the term of the plan. Rates current as of August 1, 2024, and are subject to change based on market conditions and borrower eligibility. Subject to credit approval. Your APR after the six (6) month promotional period will be higher and will be based on the prevailing variable-rate index value, your credit qualifications and the combined loan-to-value. Minimum credit line is $10,000. Maximum credit line is $250,000. 10-year draw period followed by up to a 20-year repayment period. Homeowner’s property insurance is required. Flood insurance may be required. Credit line together with any other mortgage(s) cannot exceed 90% of the property value on 1- to 4-family, owner-occupied properties. Some fees apply. $50 Home Equity Line of Credit Annual Fee, Appraisal Fee necessary to process the loan application. Promotional introductory offer applies to new HELOC applications submitted between 8/1 - 9/30/24. Must be an existing member or eligible for membership with DFCU Financial.
5Variable Rates: The Annual Percentage Rate (APR) is determined by the sum of the Prime Rate as listed in the Money Rates table of the Wall Street Journal (index) plus or minus a margin and is subject to change the first day of each month. Any change in the APR will take the form of additional payments of the same amount. The maximum APR that can apply is 18.00% or the maximum permitted by law, whichever is less. Home equity loan or line of credit must be secured by a primary Michigan or Florida residence or a secondary lien on a Michigan or Florida vacation home and must be owner-occupied. Late Fee: if your payment is more than 15 days late you will be charged a $20 late fee. Home Equity Line of Credit Annual Fee: $50; Personal Line of Credit Annual Fee: $25. We do business in accordance with the Federal Fair Housing Laws and the Equal Credit Opportunity Act.