Home Equity Line of Credit

Unlock the equity in your home.

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 8.50% APR N/A N/A <=80%
As low as 9.00% APR N/A N/A >80% <=90%

Rates effective as of 3/23/2023

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 a margin of at least 0.75% 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 25.00% or the maximum permitted by law, whichever is less. Home equity loan or line of credit must be secured by a primary Michigan residence or a secondary lien on a Michigan 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.

NCUA Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.


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*APY = Annual Percentage Yield. Paid and compounded quarterly. Dividend rates are determined by the principal balance when your certificate is opened. Dividend payments will not affect the dividend rate during the term even if the minimum balance for the next tier is met. Rates subject to change without notice at any time. Penalties may apply for early withdrawals. DFCU Financial deposit products are insured by the NCUA.

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While the DFCU Financial Board of Directors intends to pay Cash Back every year, and has done so since 2007, Cash Back is not guaranteed and will depend on our financial performance and other factors. Annual Cash Back payments are limited to an aggregate of $10,000 for each tax-reported owner. The IRS requires that Cash Back for an IRA be paid to the same IRA, and that it be open when Cash Back is deposited. Cash Back to Commercial / Business Banking members is subject to additional terms. Anyone who causes DFCU Financial a loss for any reason is not eligible for Cash Back.