Rates are low! We make it easy to tap your home's equity for improvement projects or other large expenses.

 

If you have dreams — big or small — for making your home just right for you, your home’s equity could help you bring your dreams to life. 

When you borrow against the equity in your home with a Spectrum Home Equity Line of Credit, you have the flexibility to tap funds whenever you need them, so whether you tackle a full-blown remodel — or just do a few upgrades — you’ll have the funds on hand.

Lines are available for up to $500,0001 depending on your credit and your home’s value. Plus, with a Spectrum Home Equity Line of Credit, you’ll enjoy:

  • Zero Closing Costs2
  • No Annual Servicing Fee

Tapping your line of credit is as easy as writing Equity Checks or using your HELOC debit card for purchases, or transferring funds from your line of credit to another account.
 

Apply Now!

 

Today's Rates

Rate Effective Date : Nov 20, 2020
Loan-To-Value Loan Amounts up to2 Index APR as low as3
80% $500,000 Prime Rate 4.000%

 


 

 

Learn More on Our Blog

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Home Equity Loan vs HELOC

Before you decide which type of second mortgage is best for you, first determine if you really need one.

 

 


Credit limit based on your creditworthiness. Please contact the Credit Union for the minimum and maximum loan amounts for the various Combined Loan-to-Values (CLTVs).

If account is closed within three years of opening, early closure fees will be added to the Account Balance in the amount of $500 for credit lines up to $100,000 and $700 for credit lines above $100,000. Early closure fees are not accessed where prohibited by state law or when the account is closed as part of a Spectrum refinance.   

For Home Equity Lines of Credit, the rate is variable and based on the Prime Rate as published in the “Money Rates” section of the Wall Street Journal, plus a margin. The margin is based on loan-to-value and borrower(s) credit score at time of origination. Rate of 5.250% (Annual Percentage Rate (APR) of 5.250%) effective as of 3/20/18 and subject to change without notice. 5.250% rate is based on a Combined Loan-to- Value (CLTV) of 80% or less and excellent credit score. The maximum annual percentage rate in a variable rate plan is 18%.

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