Your HELOC rate has been lowered!
We're giving you a better rate for 24 months.
Overview
You’ve qualified for a lower rate on your HELOC! We’ve already lowered the rate on your Home Equity Line of Credit (HELOC) for the next 24 months and no further action is needed. Take advantage of this lower rate to pay off debt or for unexpected expenses.
What could you do with your home's equity?
Use the equity in your home to pay for home improvements when your savings isn’t enough.
Replace your high-interest debt with a low-rate home equity loan and save money.
Enjoy the wedding you’ve always dreamed of by using your home’s existing equity to pay for expenses.
From tuition and textbooks to equipment and supplies, get a home equity line of credit that’s available for all your educational expenses.
You never know what expenses might pop up when you purchase an investment property. Have the funds you need on hand when you need them.
Use your HELOC to pay for any ongoing for variable expenses in your life and have the funds available whenever you need them.
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Log into digital banking and select the Move Money button at the top or start here
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Choose your HELOC from the list of accounts in the From section
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Choose the RCU or external account where you want the funds to go
Suggested For You
RCU Visa® Credit Cards
Use your credit card to pay for purchases and earn rewards, then pay your credit card back with your HELOC! It's easy!
Have a question?
If you have questions about any part of the home buying process, our mortgage experts are here to help. Schedule an appointment or give us a call at 1 (800) 609-9009.
Put your property to work for you
No matter what you need to buy, use your home's equity to get the funds for major or ongoing expenses.
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Home Equity Line of Credit (HELOC) rate reduction is valid from 05/21/2024 to 05/20/2026 for a period of twenty-four (24) months (24-month Period) to qualifying Members who received a Change in Terms notice. During the 24-month Period, the reduced rate will apply on all new draws. At the end of the 24-month Period, the rate will automatically revert back to the Member’s original rate as disclosed in the HELOC Agreement and Disclosure. All other terms and conditions of the HELOC Agreement and Disclosure remain unchanged.
All Highlights
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Low variable rates
Get a lower interest rate compared to most other traditional loans to save you money on financing.
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Up to 85% combined loan-to-value
Get more financing power from your home’s equity, with up to 85% combined loan-to-value for primary residences and up to 80% loan-to-value for second homes and investment properties.
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Lines of credit up to $500,000
Cover almost any expense with lines of credit up to $500,000 for primary residences and up to $300,000 for second homes and investment properties.
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No closing costs**
Most home loans require expensive closing costs. Keep your hard-earned money with no closing costs on certain RCU HELOCs.
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Line of credit
Unlike fixed loans, you can use as much or as little money as you need, whenever you need, and only pay on the balance used.
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Interest-only and principal and interest terms available
Pay off your debt in a way that works best for you with both interest-only and principal and interest terms available for even more payment flexibility.
Resources
Rates
Contact Us
Schedule an appointment
Meet with a mortgage specialist to choose what’s right for your needs.
PPP Forgiveness Application Deadline
Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:
- PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
- RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
- Your correct deadline will be reflected in your online banking account.
If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.
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