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.

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 85% 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 85% 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 85% of the value of your home


Determining Equity

Borrow up to 85% of your property’s appraised value, minus the first mortgage balance. Use the following example to determine your available equity:

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

*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 parties (owners) must sign the documents. **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. Due date is on 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 50% higher for property values in excess of 1 million dollars, at the discretion of the assigned appraiser. Equity Express Loan payment example: $50,000 for 240 months at 6.50% = $372.90.
**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.