Loans & Credit Cards

Home Equity Line of Credit

Ever thought that there might be cash stored away in your home? With a Home Equity Line of Credit (HELOC) at Lion's Share Federal Credit Union, that cash is already yours.

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Flexible Funding

HELOCs allow you to access the value of your property – its equity – and draw on those funds in the form of a flexible line of credit. Borrow as much or as little as you need, for what you need, when you need it.

Use your HELOC to pay for:

The amount advanced on your HELOC will determine how much your monthly payment is, and the more you pay back the more you can lower your payment amount.

Payment & Terms

Lion’s Share Federal Credit Union will secure a first or second lien to your primary, vacation, or rental property. A market appraisal is obtained to determine the current market value of the property.

Whether your property is your primary residence or a secondary property will impact the financing available.

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Loans secured with a primary residence can be financed up to 95% loan to current market value.

Loans secured with a primary residence can be financed up to 95% loan to current market value.
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Vacation homes and rental properties can be financed up to 80% loan to value with a maximum loan amount of $50,000.

Vacation homes and rental properties can be financed up to 80% loan to value with a maximum loan amount of $50,000.
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The available line of credit is determined by subtracting existing liens on the property from the current appraised value.

The available line of credit is determined by subtracting existing liens on the property from the current appraised value.

A home equity line of credit with LSFCU has a period of ten years that credit can be extended. Another ten years is provided strictly to pay off any outstanding balance.

Payments are based on a ten-year payoff with a minimum of $50.00 per month. The rate is variable and is based on the Wall Street Journal published prime rate, starting as low as prime minus 0.50%.*

This rate is subject to change each calendar quarter. Final HELOC Rate is based on Members’ credit rating. Proof of property insurance is required.

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HELOC Disclosures

Home Equity Line of Credit Early Disclosure
What You Should Know About Home Equity Lines of Credit

Need extra cash?

No more wondering what’s possible—access the funds you need with a Lion’s Share HELOC today.