Couple laying on floor during home remodel project

Home Equity Line-Of-Credit

Turn Your Home Purchase Into Money You Can Use

Apply Now

Get A Return On Your Home Investment

Need recurring access to funds for home improvements or other projects and needs? Let the investment in your home purchase pay you back with a Home Equity Line-of-Credit.

Recurring Access To Funds

With a revolving line of credit, you can use the funds as you need them and pay for only what you draw on.

Affordable Low Rates

Rates as low as 3.00% APR*

Flexible Terms Available

Up to 15 years financing.

Easy Access To Funds

Funds can be easily accessed from your account – use your debit card, write a check, withdraw at ATM.

Potential Tax Savings*

Interest paid on your home equity may be tax deductible.*

Convenient Closing Process

Can’t make it to a branch? No worries. We can complete the entire process digitally and securely.

How does a Home Equity Line-of-Credit work?

A home equity line of credit, also known as a HELOC, is a line of credit secured by your home. You get a revolving credit line to use for large expenses or to consolidate higher-interest rate debt on other loans such as credit cards. With an AFFCU Home Equity Line-of-Credit, you may draw on your variable-rate line of credit whenever you need.

Kitchen remodel

Calculate Your Potential Home Equity Value

Home Equity Calculator

  • Please enter a number greater than or equal to 0.
  • Please enter a number greater than or equal to 0.
  • Please enter a number from 1 to 90.


Frequently Asked Questions

Your credit limit will depend on the amount of equity in your home, your credit history and property location. Another factor is your loan-to-value (LTV) ratio, which is the relationship between your current mortgage loan balance and the value of your home. Find out how much you may be able to borrow with our home equity line of credit calculator above.

Available credit is based on your loan-to-value ratio, with a maximum of to 90% loan-to-value. After borrowing you will still be required to have at least 20% equity left in your home.

The variable interest rate is based on the Wall Street Journal Prime Rate as published in the Money Rates section.

You can borrow as little as $15,000 or up to $200,000 depending on your credit history, available equity in the property and your current monthly debt.

A Home Equity Line of Credit has two different periods, a draw period and repayment period. The draw period is 5 years, where you have ongoing access to available funds and can use the funds how you’d like. During the draw period, you have to make predetermined minimum monthly payments of the outstanding balance. Once the draw period ends, the account enters the repayment period.

During the repayment period, you can no longer advance on the home equity line of credit, and must make principal and interest payments. The new minimum payment will ensure the balance is paid in full by the maturity date. The interest rate on the balance continues to be variable.

You might also be interested in

Home Equity Loan

Want to tap the equity on your home but just need a lump sum loan to access one time? Consider a Home Equity Loan.

Learn more about a Home Equity Loan

Use Your Equity For Home Improvements

Using the equity in your home to finance your home improvements is a great idea. What improvements have the best return?

Read more about the best home improvement projects.

Turn Your Home Investment Into Cash Flow

Contact us
Contact Us
Apply online
Get Started
Call us

(410) 584-7474


Consult your tax advisor. Borrower will be responsible for third party fees, such as: appraisal, tax and flood tracking, title insurance, and settlement service. Consult your tax advisor about potential tax deductions and your tax liability. Adequate homeowner’s insurance coverage is a requirement for this loan.

*APR=Annual Percentage Rate. Rate, terms and conditions are subject to change without prior notification. Actual rate may vary based on the term, loan amount, your credit history and other factors. Home Equity rates are based on prime plus a margin. Borrow up to 90% of your home value with a maximum of $200,000. Fixed payment examples are based on a $10,000 loan. Home Equity Line of Credit (HELOC) payment example is based on $10,000 loan with a 15-year repayment schedule. HELOC’s have a 5 year draw period with 5/10/15 year repayment schedules available. HELOC’s are variable rate products. Home Equity product rates are based on prime rate +. Current prime rate is 3.25% and is updated on the last business day of the month as published in the Wall Street Journal. Rate is subject to change. Speak with a Lending representative at 410-584-7474 about closing costs.