HELOC

Borrow against the available equity in your home and the house is used as collateral for the line of credit.

Home Equity Line of Credit

A Home Equity Line of Credit (HELOC) is a loan set up as a line of credit for a maximum draw, rather than using a fixed dollar amount like a mortgage. Frontier Credit Union wants to help you get your next HELOC, because you need someone local you can trust.

Home repairs
Landscaping
Debt consolidation
Finish the basement
Remodel kitchen/bathroom
Pay for college
Vehicle purchase
Go on vacation

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HELOC Rates

Term	APR*
Up to 25 Years	As low as Prime minus 0.20%

Rates are determined off Wall Street Journal Prime Plus Margin. The interest rate can change with the Wall Street Journal Prime Rate or quarterly, effective by month end of the first month of each quarter, following a change in the Prime Rate. *APR=Annual Percentage Rate. The Annual Percentage Rate will not exceed 18.00%. Approved rates are based on creditworthiness. We will use the most recent index available to us as of the 1st business day of the month prior to a rate change. $20,000 minimum, $250,000 maximum line of credit. Early payoff (less than 3 years) requires $300 finance charge. Adequate Property insurance must be maintained. Appraisal fees may be passed on to the borrower.

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Features / Benefits

Features	Benefits
Eligibility	Primary Residence Single Family (1-4 family)
Terms	Up to 25 Years Draw Period up to 10 Years w/ Interest Only Payments Repayment Period up to 15 Years w/ Principal & Interest Payments Re-amortized
Loan to Value	Up to 85% of Home Value
Loan Amounts	Minimum of $20,000 Maximum of $250,000
Fees	No Application Fee No Closing Costs*
Advance Limits	No Minimum Advance During Draw Duration Period No Initial Advance Required
Credit Advances	Electronically In Person Over the Phone HELOC Credit Card
Uses	Home Improvements Landscaping Debt Consolidation Everyday Purchases