Home Equity Loans & Lines of Credit

Using Your Home’s Equity Can be a Money-Saving Way to Borrow

We offer several options to meet your needs and budget when it comes to using the equity in your home to borrow. Always check with your tax advisor regarding tax-deductible interest and your specific tax situation.

We’re Trimming Our Rates!

For a limited time (4/10 – 5/31/2017), all Home Equity Line of Credit (HELOC) advances are now 2.49%APR* for 12 months. Hurry! Advances must be completed by 5/31/2017 to qualify for 12 months at a great low rate. This is a great opportunity if:

  • You have a HELOC/HE Loan somewhere else with a higher rate   Apply Now
  • Your home has appreciated and now has more equity, giving you more borrowing power   Apply Now
  • You have expenses/purchases you’ve been delaying   Apply Now
  • You need a loan-to-value of 90%, we’ll do that too for 3.49%APR*    Apply Now

We have two Home Equity LOC options from which to choose –

Home Equity Line of Credit – Flexible Payment

Our flexible payment feature gives you the option to pay just the interest you owe or you can choose to knock out extra principle. It’s so flexible, it will fit in any budget!

Features include:

  • Make interest-only payments
  • No closing costs**
  • Same day approvals***
  • Easy automatic renewal
  • Term: 15 year draw and 15 year repayment (You may access funds for 15 years)
  • Variable rate based on Wall Street Prime Index (changes quarterly)
  • Loan up to 90% of the value of your home

If you have an existing Home Equity Line of Credit with us and would like to modify your loan to make it a “flexible payment” please give us a call. Additional conditions may apply.


Home Equity Line of Credit (HELOC)

With a Home Equity Line of Credit you can use the funds to repair or remodel your home, to pay for a vacation or even college tuition. Check out the great features listed below.

    • No closing costs**
    • Same day approvals***
    • Quick 15-minute closing
    • 10 year draw period; 15 year repayment period
    • Variable rate based on Wall Street Prime Index (changes quarterly)
    • Convenient transfers to other accounts using Access 24 or Online Banking
    • Borrow as much as you want, as often as you want (up to your credit limit)
    • Easy automatic renewal
    • Other rates are available for up to 90% of the value of your home


Equity Express Loan

  • Loan amounts beginning at $10,000
  • One time advance of funds with repayment terms up to 20 years
  • Our low, fixed rate is locked for the life of the loan
  • We’ll finance up to 100% of the value of your home


Determining Equity

It’s easy to determine your potential equity. Use the example below with an 85% Loan-to-Value amount for a conservative estimate: 

Appraised Property Value: $600,000
85% of Appraised Value: $510,000
Less First Mortgage Balance: $417,000
Available Equity: $ 87,000

How much can you SAVE with ACFCU?

Click here to easily calculate the advantages of an ACFCU Home Equity Line of Credit or Equity Express Loan

The Fine Print
*APR = Annual Percentage Rate. Rate is variable and subject to change with Quarterly Interest Rate Adjustments. The APR will not exceed 18%. Exclusions and conditions apply. Interest charges apply only when you use the line. Property insurance required. Offer available only on owner occupied, single-family, residential real property located in VA, MD and DC. ACFCU must obtain a valid first or second lien position on the collateral and all owners must sign the documents.
SPECIAL RATE: All advances must take place between 4/10/2017 – 5/31/2017 to receive special rate. Valid for new HELOCs and advances on existing HELOCs. Special rate expires 5/31/2018. After expiration date, all balances will accrue interest at your standard rate. Minimum LOC limit or requested LOC increase is $10,000. Applications must be received by 5/17/2017. All payments are applied to the lower balance first.
**All closing costs except mortgage taxes and recording fees will be paid by ACFCU. If HELOC is closed within 3 years, ACFCU will add any closing costs paid on member’s behalf to member’s outstanding balance.
GENERAL INFO: Payment due date is the 25th of each month, no other due date available. Payments must be made monthly, no other frequency is available. Appraisals may be required either for Condominiums or loans in excess of $75,000. Appraisal fees can range from $380-$450 and may be up to 100% higher for property values in excess of $1,000,000 or for other special configurations such as multi-unit dwellings (at the discretion of the Appraisal Management Company and assigned Appraiser). 
***If member provides ALL required documents at the time of application for the loan application to be reviewed.
INTEREST-ONLY HELOC: You only pay the amount of interest accrued on your outstanding balance, plus any optional debt cancellation and unpaid fees. With this option, your principal balance will not be paid down as you make monthly payments.
EQUITY EXPRESS LOAN: payment example: $50,000 for 240 months at 6.50% = $372.90.