Home Equity Line of Credit
We'll pay your closing costs.
For a limited time, SCU will pay all normal closing costs on new Home Equity Lines of Credit. (No more than once every 24 months.)
APR
3.50% APR is for one year and applies to loans with closing dates on or after 1/1/2019. Home Equities closing before 1/1/2019 will have a 2.90% APR for the first year. The traditional Home Equity Line of Credit has a variable rate (maximum 18.00% APR) which is the Prime Rate, as reported by the Wall Street Journal, plus 1.00% APR. As of 9/26/2018, the Prime Rate was 5.25%. Accordingly, the APR for a Home Equity Line of Credit will go to 6.25% APR after the first year. Rates adjust quarterly if there is a change in the Prime Rate. For a printable version of our Loan Rates, click here (50KB PDF).
Flood/property/hazard insurance may be required.
Why a home equity line?
The Funding You Need
Borrow up to 85% of your home's value, minus existing mortgage(s).
Checks
Write a home equity check for $100 or more.
No Extra Charges
No prepayment penalties; no annual fee.
Easy Application Process
SCU makes the application process stress-free.