Home Equity Line of Credit (HELOC)

The Police Credit Union offers HELOCs to members who may be planning expenditures ranging from home improvement projects, like a kitchen remodel, planning the next family vacation, or paying for school tuition. Home equity lines of credit are also a smart way to achieve financial goals such as covering college expenses or purchasing an investment property.

Our HELOC features an introductory rate of Prime minus 1.00% for the first 12 months. The Police Credit Union will help you make the most of the equity in your home to improve your life.

APR= Annual Percentage Rate.  Subject to change without notice.  Rates quoted are effective on date of publication.  Owner Occupied:* The fixed introductory rate is Prime minus 1.00% for the first 12 months and valid on Owner Occupied and Second Home Properties only (Investment properties and/or the refinancing of an existing HELOC secured by same property are not eligible). Variable rate thereafter based on Prime Rate, published in the Wall Street Journal (“Index”) + Margin; The amount of the margin may vary, depending upon individual credit history; MONTHLY adjustments; Floor Rate 4.00%; Ceiling Rate 15%; Maximum Combined Loan-to-value 80% Owner-occupied; Must be a member by depositing $25 to a shares account.  A $95 nonrefundable application fee (credited back at closing)  A $100 inactivity fee will be imposed if the balance is $0.00 for 12 consecutive months. Administration fee: $500.00 if line closed within 36 months of open date. Property insurance is required; flood insurance may be required. The Police Credit Union will pay customary closing costs such as credit report, flood certificate, tax service, junior loan policy, recording fees, wire fees, etc. The applicant will pay for all other fees, such as full appraisal, full escrow, full title insurance, fees associated with any payoffs in escrow, and remote/accommodation notary fees. Typical fees range from $450.00 - $1,600.00.

APR= Annual Percentage Rate.  Subject to change without notice.  Rates quoted are effective on date of publication Investment Properties (Non-owner Occupied): **Variable Rate based on Prime Rate published in the Wall Street Journal (“Index”). + Margin. The amount of the margin may vary, depending upon individual credit history; MONTHLY adjustments; Floor Rate 4.00%; Ceiling Rate 15%; Maximum Combined Loan-to-value 75% Non-Owner-occupied; Must be a member by depositing $25 to a shares account. A $95 nonrefundable application fee (credited back at closing)  A $100 inactivity fee will be imposed if the balance is $0.00 for 12 consecutive months. Administration fee: $500.00 if line closed within 36 months of open date. Property insurance is required; flood insurance may be required. The Police Credit Union will pay customary closing costs such as credit report, flood certificate, tax service, junior loan policy, recording fees, wire fees, etc. The applicant will pay all other fees such as full appraisal, full escrow, full title insurance, fees associated with any payoffs in escrow, and remote/accommodation notary fees. Typical fees range from $450.00 - $1,600.00.