Skip to content

Home Equity & HELOC Products

 

Home Equity Loan or HELOC: Which one is right for you?

Use the equity in your home to create your dream home or update it before you put it on the market. Borrow up to 90% of the equity in your home.1

Choose between USSFCU's Home Equity Loan2 or Home Equity Line of Credit (HELOC)3

Home Equity Loan

(Fixed-Rate)

A USSFCU Home Equity Loan is ideal for major or one-time renovations and upgrades.

Home Equity Line of Credit (HELOC)

(Variable-Rate)

A USSFCU HELOC is a perfect solution for projects that require flexibility and phases of completion.

 

For more details about our Home Equity and HELOC products please scroll down to the bottom of the page.

Home Equity Loan and HELOC products are not currently available in the state of Texas. HELOC rates will not adjust until the 1st day of the billing cycle on the 15th of that month.

Apply Online


Not a member? Not a problem. With 140 plus paths to membership, joining is simple and easy. Join today.

If you are not a member but would like to apply for a loan, first apply for USSFCU membershipOnce you become a member you can apply for a loan through CUAnyHour+ Online Banking.

RATES


1 90% LTV on loans not exceeding $400,000. 80% LTV on loans between $401,000 - $500,000. 2 Fixed rates and repayment terms up to 180 months. A Home Equity Loan with an original balance of $70,000 and a 60-month term with an APR of 4.88% totals a monthly payment of 1,317.14. A Home Equity Loan with an original balance of $70,000 and a 180-month term with an APR of 5.38% totals a monthly payment of $567.51. 2 Variable rates and repayment terms up to 120 months. Maximum allowable APR is 18.00%. HELOC rates will not adjust until the 1st day of the billing cycle on the 15th of that month. FEES AND CHARGES: To open or maintain a home equity line of credit, you must pay certain fees to third parties. These fees generally range from $500.00 to $1,300.00. If you ask, we will give you an itemization of the fees you will have to pay to third parties. LATE PAYMENT FEE: If your payment is more than 10 days late, you will be charged 5.00% of the payment due. PROPERTY INSURANCE: You must carry insurance on the property that secures this plan.

 

  • A fixed-rate, close-end loan you can use for several needs:
    • Home remodeling projects
    • Debt consolidation
    • Educational expenses
    • Major life events
    • And more!
  • Borrow up to 90% of the equity in your home.1
  • Minimum amount - $7,500—Maximum loan amount is $500,000.1
  • Repayment terms: up to 180 months
  • Interest paid might be tax deductible2
  • Pre-qualification possible by applying over the phone or in person
  • Helpful, expert service throughout the entire process

A Home Equity Line of Credit (HELOC) is like a home equity loan, except instead of a one-time disbursement of funds, you may get pre-approved up to a certain amount, and access funds as you need them. Choose between our Classic HELOC or our Smart Line HELOC for a line of credit that fits your needs.

  • Variable rates—only pay interest on what you use
  • Borrow up to 90% of the equity in your home 1
  • Competitive rates for several ongoing or seasonal needs
  • The existing equity in your home is used as collateral backing
  • Accommodating repayment terms that work uniquely for you
  • Funds available anytime without reapplying; apply once, then use repeatedly thereafter
  • Revolving credit — as principal is repaid, more becomes available for use
  • The interest paid might be tax-deductible*
  • Set up automatic payments to be deducted from your account monthly
  • Professional, customized service throughout the entire process
Classic Line HELOC
  • Allows you to pay interest only—ideal for those who want to upgrade their current home before selling
Smart Line HELOC
  • Allows you to make payments on both principal and interest—perfect for that season-long project.

USSFCU has teamed up with Accurate Group, LLC to provide our members with an exciting option for completing your Home Equity Loan package signing. 

NotaryWorksTM  by Accurate Group utilizes cutting edge technology, replacing the need to send a closing agent to your home.

Qualifying members4 can complete the notary experience virtually with a notary by reviewing and signing loan documents on your computer, tablet or mobile devices. All NotaryWorksTM notaries are certified and pre-screened by Accurate Group.

FYI: This service requires the member to be on a Desktop or Laptop with a webcam. You will also need to provide 1 Photo ID during the meeting. (Passport, Drivers License, etc.) Please make sure you have this with you and ready to show during the online e-closing session. You may be promoted to run a quick plug-in that only takes a few seconds to load. 

If you are interested in the efficiency of an online meeting, NotaryWorksTM is for you! Please contact your USSFCU loan officer to arrange your online closing.

Participating members will be subject to the Commonwealth Virginia Notary Statutes. Notary law requires all electronic notary ceremonies be video recorded. Valid ID required and recorded during closing. Not available in all locations. Internet access required.

1 Not all applicants will qualify for the lowest rate. Rates and terms are subject to change and may vary based on creditworthiness and qualifications. 2 Consult a tax advisor. 3 To open or maintain a home equity line of credit, you must pay certain fees to third parties. An itemized list of third party fees are available upon request by calling 800.374.2758. Other fees may apply. 4 Participating members will be subject to The Commonwealth of Virginia Notary Statutes. Notary law requires all electronic notary ceremonies be video recorded. Valid ID required and recorded during closing. Not available in all locations. Internet access required. Members should not send personal information via email. 

The United States Senate Federal Credit Union complies with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act). A list of our registered originators can be found by searching for the United States Senate Federal Credit Union here.

Members' Voice Testimonials

This credit union is the best, I love the customer service and you can't beat the interest rates. I'm happy to be a member of this great credit union.

USSFCU has always been accommodating, easy to work with, and staff are always kind. I have every intention of keeping my account with this bank for a long, long time.

The branch manager introduced herself and was extremely helpful. She stated that if there is anything we ever need to please let her know. Very positive experience!

Greta was absolutely amazing - as always. She makes me and my parents feel valued and supported. We are forever grateful. [The Credit Union] has been hugely supportive over many years. And we feel known and cared for.

Long as I have been with the credit union, I haven?t had any problems. I also like the protection on my account.

My overall experience at the credit union was exceptional. The staff was hospitable offering water, my service was timely and professional and the office was well lit and clean.

As a member for more than 40 years, i have always had great service from the USSFCU and know that they stand behind their great reputation.

A top rate Credit Union, [I'm] privileged to be part of! Thank you for all you do for our family! USSFCU Credit Union was able to resolve our financial situation - vehicle, personal loans, customer service/recommendations, within 6 months. We belonged to another credit union for over 20 years, with results not even close to comparison. We switched ...

Your people and products are amazing. The recent [online banking] overhaul is phenomenal. [I've] been electronic banking since Tele action phone banking - paying bills with my push button landline decades ago. USSFCU is light years ahead of everyone else in terms of ease of use and client experience!

Read More testimonials.