Home Equity Line of Credit
More affordable through SCU.
No 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).
Enjoy an introductory rate of 3.50% APR. After one year, rate will revert to the regular variable rate (maximum 18.00% APR).
About the Variable Rate
The regular variable rate is the Prime Rate, as reported by the Wall Street Journal, plus 1.00% APR. As of 03/16/2020, the Prime Rate was 3.25%, therefore the regular variable rate would be 4.25% APR. Rates adjust quarterly if there is a change in the Prime Rate.
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).
Write a home equity check for $100 or more.
No Extra Charges
No prepayment penalties; no annual fee.
We make the process stress-free.