Whether you’re thinking about renovating your home, have encountered unexpected expenses, or you’re taking advantage of investment opportunities, a BFSFCU Home Equity Line of Credit (HELOC) will make it happen.
Use the value in your home to finance your next project. By tapping into the value you’ve built in your home, you can fund anything from an energy-efficient window installation to even purchasing another home.
With interest rates still very low, using the equity in your home could be a cost-effective way to finance your aspirations.
BONUS REASON TO USE A HELOC: The interest you pay on your HELOC may even be tax-deductible.*
*Consult with your tax advisor for details.
|Account Type||Term (Years)||Annual Percentage Rate (APR)||Payment Example ($10,000 loan amount)||Alert Me|
|Home Equity Line of Credit (Variable Rate)1||15||2.990% for the first 6 months. After 6 months, the APR will be 3.50%, subject to increase||6 payments of $69.01 and 174 payments of $71.41|
|5/1 Home Equity Line of Credit (Variable Rate)1||15||3.990% for the first 60 months. After 60 months, the APR will be 3.50%, subject to increase.||60 payments of $73.92 and 120 payments of $71.74|
|At this time, BFSFCU lends on properties in DC, DE, MD, VA and WV only. Lien recordation is required.|
Housing counseling agencies approved by the U.S. Department of Housing and Urban Development (HUD) can offer independent advice about whether a particular set of loan terms is a good fit based on your objectives and circumstances, often at little or no cost. If you are interested in contacting a HUD-approved housing counseling agency in your area, you can visit the Consumer Financial Protection Bureau’s (CFPB) website, www.consumerfinance.gov/find-a-housing-counselor , and enter your zip code. You can also access HUD’s housing counseling agency website via www.consumerfinance.gov/mortgagehelp or by accessing HUD’s counseling agency web service directly via http://data.hud.gov/index.html. For additional assistance with locating a housing counseling agency, call the CFPB at 1-855-411-CFPB (2372).