Now is the Perfect time to update.
Open a home equity line of credit Today!
Great Rates as Low as 3.000% APR*
A Home Equity Line of Credit (HELOC) can be an easy way to finance your needed home improvement project. Apply now and pay no closing costs** when you draw an initial advance of $5,000 or more with a new HELOC. At Directions Credit Union you never have an annual fee and all approvals and servicing are done locally.
Other benefits include:
- Apply online or through our online loan application
- Great low rates
- Finance up to 90% of your home's value
- Low closing costs and processing fees
- Advances can be obtained during the first 5 years
- Payment term is 10 years
- No prepayment penalty
- Rate will not increase more than 2% each year and not more than 6% over the term of the loan
Your New Kitchen Could Be Closer Than You Think.
Interested in a fixed home equity loan vs. a line of credit?
*APR=Annual Percentage Rate effective March 29, 2022 and may change based on market conditions or borrower eligibility. Stated rate is available on HELOCs with 80% or less Loan to Value (LTV). Rate is higher for HELOCs with 81% or higher Loan to Value (LTV). Maximum line of credit available is 90% of the appraisal value less the first mortgage balance. Minimum loan amount is $5,000. Advances can be obtained during the first five years. Payment term is ten years. No prepayment penalty. Interest rate locked in at time of applications. Rate is a variable rate based on prime rate. HELOCs with an LTV up to 80% will have a rate of the Current Prime Rate - .50. HELOCs with an LTV of 81% to 90% will have a rate of the current Prime Rate + 0. Rate will not increase more than 2% each year and not to exceed 6% during the term of the loan. Loans are limited to owner-occupied 1-4 family principal residence and are subject to our underwriting standards. Eligibility based on creditworthiness, proof of income and collateral. Please consult a tax advisor for deductibility. Property insurance is required. **No closing costs offer is limited to $600. Home Equity Line of Credit closing costs can vary with each loan.