parsons federal credit union parsons fcu parsonsfcu

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Home Equity Line of Credit

Have you been dreaming about a home remodel, buying a new car, or perhaps wondering how you are going to pay for college? Now is the time to stop dreaming and let us help you make your dreams a reality. A Home Equity Line of Credit allows you to borrow against the equity of your home.

Make your home shine with our introductory rate as low as 1.99% APR* for the first 6 months!

After the 6-month introductory rate, we offer as low as 4.75% APR* for Home Equity Lines of Credit.

Parsons FCU offers low, competitive fees and advantages such as:
• No annual fees
• Borrow up to 90% of your home’s appraised value, less First Trust Deed balance (if any)
• A 10-year draw period

You can now apply for a HELOC through your mobile phone! Just click here to get started or apply from your desktop by clicking the "Apply Now" button below. 

Apply Now

*APR = Annual Percentage Rate. APR of 4.75% as of November 1, 2019. $10,000 minimum line of credit required. Maximum CLTV is up to 90%. LTV may vary by state. Minimum floor rate 1.50% APR; maximum cap rate 11.90% APR. Rates quoted are for owner-occupied transactions secured by a single-family, 1-4 owner-occupied residence, or Second Home (Vacation). We will not subordinate to a negative amortization or interest only loan. Rate is variable and is based on the Prime Rate Index as published in the Wall Street Journal and is subject to change after consummation. Payment is based on 1.25% of the actual balance at the end of each cycle month. Certain fees, conditions and restrictions may apply. Home Equity Lines of Credit is secured by your home. Rates and terms subject to change without notice. Loan approval subject to credit evaluation.

Credit Union will credit closing costs up to $500. Borrower will be responsible for all closing costs over $500. Other fees may apply depending on the loan amount and state of residence. Fees such as appraisal, title charges, flood certification and tax service may apply.