Home Equity Line of Credit

family-homeEver thought that there may be cash stored away in your home? With the help of a Lion's Share Federal Credit Union Loan Officer, that cash can be yours. The Credit Union will secure a first or second lien to your home or your vacation or rental property. Loans secured with a primary residence can be financed up to 95% loan to current market value. Vacation homes and rental properties can be financed up to 80% loan to value with a maximum loan amount of $50,000. A market appraisal is obtained to determine the current market value of the property.

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 ½%*. The rate is subject to change each calendar quarter. Rates are based on Members credit rating with the minimum rate as low as 8.00% APR* and a maximum rate of 18% APR*.

Proof of property insurance is required.

With the ease of payroll deduction, the possible tax advantages, and our low rate, you have no reason not to look to your Credit Union for the extra cash you need right now! 

Home Equity Line of Credit

Rate Effective June 28, 2024
LoanAPR As Low As . . .Term In Months
Home Equity Line of Credit
*As low as Prime -1/2% Variable** Rate
8.00% 120
APR = Annual Percentage Rate
*As low as signifies that your loan rate will be determined by your credit qualifications. Not all will qualify for the lowest rate. Your Loan Officer will disclose your rate based on your credit score information.
**Rate is variable and determined ten days before the end of each calendar quarter, at which time it is subject to change. Rate has a floor of 4.0% APR and a 18.0% APR maximum.
Proof of Property Insurance is required for this loan. Additional cost to obtain a HELOC may include, Appraisal, Attorney fees, Recording fees & Flood Search.

IMPORTANT HOME EQUITY LINE OF CREDIT DISCLOSURES:

*A minimum rate of 4% is applied to all Home Equity Lines of Credit. Not all who apply will qualify for this offer.