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Put Your Home’s Value to Work for You

Unlock the financial power of your house with our Home Equity Lines of Credit (HELOCs). Use the cash for renovations, vacations, or anything else you need!

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  • Credit backed up by your home's value
  • Low variable rates
  • All loan decisions made locally by Freedom CU Staff
  • No prepayment penalties

Details About Our HELOC Loans

Discover how our HELOC loans provide the flexibility and financial leverage to meet your diverse needs and aspirations.

Features include:

  • Use the funds as you like—Use the loan for whatever you need.
  • No application fee—There are no fees to apply for a HELOC loan through Freedom Credit Union.
  • Transparent pricing—No hidden fees or prepayment penalties. Enjoy the freedom to pay off your loan as early as you want!
  • Convenient repayment terms—We offer a 5-year draw period so you can access funds when needed. Then you have 15 years to repay the funds with minimum payments of $100.
  • Rates tailored to your credit—Your credit score and credit history determine your rate.
  • Substantial loan amounts—We approve loans for up to 100% of your home’s equity.

HELOC vs. Home Equity Loans

A HELOC allows you to borrow money from a line of credit while making minimal interest-only payments for a period of time (the “draw” period).

After that, the credit line closes and you must start paying back the principal on your loan, therefore your payments are usually much higher. HELOCs typically come with a variable interest rate often tied to the prime rate.

In contrast, a home equity loan provides a lump sum of money at a fixed interest rate. This means your repayment amount is consistent each month, making budgeting easier. However, it lacks the draw-and-repay flexibility of a HELOC.

Take Advantage of Our Low HELOC Rates

Home Equity Line of Credit

As low as 8.49% Variable APR Home Equity Line Amounts*Monthly Payment Examples-Draw PeriodMonthly Payment Examples-Repayment Period
*Annual Percentage Rate (APR) applies to Loan-to-Value (LTV) less than or equal to 80%. Home Equity Line of Credit is subject to a Variable Rate which is based on the highest Prime Rate as published in the Wall Street Journal and will be the rate in effect on the first day of each billing cycle. Rate will never be less than 3.99% nor greater than 18%. The interest rate you receive will be based on your credit history. APR as low as Prime Rate - 0.01% Margin. Rates accurate since 8/1/2023. Hazard Insurance is required. For loans over $150,000, Title Insurance is required. The Title Insurance costs range between $1,571 and $2,050 depending upon the dollar amount of the approved credit limit. For any loan secured by a 2-4 unit owner occupied primary residence, an appraisal fee will be incurred. Appraisal fees range between $200 and $400. Line of Credit subject to final approval. Terms and rates subject to change without notice.

Applying for a Home Equity Line of Credit Is Quick, Free, and Easy.



Apply Online

Submit an application for up to 100% of your home’s value.


Borrow As Needed

Transfer just the amount of money you need into your checking account or withdraw as cash.


Make Payments

You only pay interest on what you actually borrow. Repay in-branch, online, or through our mobile app.

Ready to transform your home’s value into financial freedom? Apply for a HELOC loan today!


“I had been plodding through the process of settling my mother’s home and Freedom truly exemplified exceptional customer service. Working with such wonderful people made the experience so much easier!”

Freedom Credit Union HELOC FAQs

  • As a member of Freedom Credit Union, you’ll enjoy top-notch personal service and competitive home equity loan rates. Experience flexible payment terms and the many perks of membership with us. Propel your financial growth through our competitive credit union HELOC rates.

  • You can use your credit union home equity line of credit for many different things, including:

    • Big ticket purchases
    • Home renovations or improvement
    • Debt consolidation (e.g., paying off high-interest-rate credit cards)
    • Medical bills
    • College tuition
  • LTV stands for the “Loan-to-Value” ratio. For a home equity line of credit, this ratio compares the loan amount to the appraised value of your home. Lower LTV ratios often qualify for better rates.

    Contact us if you need help understanding your LTV.

  • Yes, you’ll need to join Freedom Credit Union to take advantage of our attractive home equity lines of credit. Joining our financial family is easy! All you need to do is open a savings account and maintain a $5 minimum balance.

  • Apart from the principal and interest repayments, you should consider potential closing costs. However, you can enjoy peace of mind knowing that we don’t charge any annual fees.

  • The interest rate for a HELOC loan is usually variable, tied to the prime rate. However, we offer the option to switch to a fixed rate during the life of the loan.

  • During the repayment period, your monthly payment—which includes both the principal and the interest—reduces the loan balance over time. We offer 15-year repayment periods with minimum payments of $100. However, your actual monthly payment depends on the sum you borrowed, the duration of your loan term, and the interest rate.

  • A HELOC loan appears on your credit reports. Timely payments can positively impact your credit score, while late payments may have the opposite effect.