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Home Equity Lines of Credit
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Last Updated: 01/05/2026

Alliant HELOCs

in Home Equity Lines of Credit from Alliant Credit Union

Last Updated: 01/05/2026

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Highlights

Community Rating

Mostly recommended

Credit Score Range

N/A


Amount Range

$10,000 - $1,000,000
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Maximum LTV

85%
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Minimum Draw

N/A


Loan Term (Years)

Up to 30

Number of Reviews

7

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Alliant HELOCs Review

Alliant HELOCs are offered by Alliant Credit Union, a credit union founded in 1935 and based in Chicago, IL. Alliant Home Equity Lines of Credit are available in 50 states and Washington, DC.

Key Takeaways

  • No application fees, appraisal fees or closing costs on lines up to $250,000.
  • Investment and personal use properties considered. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • No origination fees. Alliant HELOCs does not charge fees for processing your application. No closing costs (excluding applicant ordered appraisals) based on Interest-only Home Equity Line of Credit (HELOC) loans up to $250,000 and meeting Alliant criteria. A fee of $1,000 is applied to Interest-only HELOC loans more than $250,000.
  • High maximum LTV ratio. Alliant HELOCs has a maximum loan to value ratio of 85%.

Alliant HELOCs Pros & Cons

Alliant HELOCs FAQ

How much can you borrow with a HELOC?

HELOCs are lines of credit that are secured by your home. Once you get approved for a certain amount, you can access your funds by check, phone, credit card, or online up to your HELOC amount.
Alliant HELOCs allows borrowers to apply for lines of credit of up to $1,000,000. Note that the maximum loan amount you can borrow will vary depending on the value of the property, how much you owe on it, and your creditworthiness.
This lender's maximum loan to value rate is 85% for qualified borrowers. That means the total debt secured by the property cannot exceed 85% of its value. Let's say you own a property with a current market value of $100k, but you still owe $20k on your mortgage. Your equity would be $80k. In this scenario, if you have excellent credit, you may qualify for a line of credit of up to $65k.

What are the terms for Alliant HELOCs?

HELOCs have a draw and a repayment period. During the draw period you can borrow as much as you need up to your credit limit. After the draw period, you are responsible for repaying the loan.
Alliant HELOCs offers home equity loans with a maximum term of 30 years with an additional draw period of up to 10 years.

Is there a minimum draw requirement?

No, there isn't a minimum draw requirement.

What fees does Alliant Home Equity Lines of Credit charge for a HELOC?

In most cases, there are no fees or closing costs (see disclaimer for exceptions).
Some lenders charge an origination fee for processing, underwriting, and funding a mortgage. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

What types of property can you use as security for a HELOC with Alliant Home Equity Lines of Credit?

Lenders often have restrictions on the type of properties they will accept as security for a HELOC. Alliant HELOCs will consider lines of credit secured by the following property types:
  • Primary homes.
  • Secondary homes and vacation properties

Alliant HELOCs Disclosure: Home equity products are available in the following states: AZ, CA, CO, CT, FL, GA, HI, IL, IN, KY, MA, MI, MN, MO, NC, NJ, NV, NY, OH, PA, TN, UT, VA, WA, WI and Washington, D.C. The minimum loan amount is $10,000. The minimum loan amount is $25,001 in WI and Washington, D.C. Offer subject to credit approval, which includes verification of application information and receipt of collateral documents. Rates and closing costs are subject to credit qualifications. Maximum loan to value of up to 85% depending on state in which the property is located and credit worthiness. The following states are limited to a maximum of 80% CLTV: AZ, CA, CO, FL, GA, IN, MI, MO, NC, NV, TN, UT. Initial rate is based on loan amount, loan to value and credit history. We may not extend credit to you if you do not meet Alliant criteria. The Annual Percentage Rate (APR) is a variable rate. Your qualifying rate may adjust monthly and is based on the highest Prime Rate as published in The Wall Street Journal as of the date of any rate adjustment plus or minus a margin. The APR range is from 7.50% to 16.00%. Loans without automatic payment selection from an Alliant Credit Union account are subject to an increase in rate and margin of 0.25%. No closing costs (excluding applicant ordered appraisals) based on Interest-only Home Equity Line of Credit (HELOC) loans up to $250,000 and meeting Alliant criteria. A fee of $1,000 is applied to Interest-only HELOC loans more than $250,000. Minimum payment will not repay principal, which will result in a higher principal and interest payment at the end of the 10 year draw period. Costs to satisfy certain prior liens may be assessed. The Annual Fee of $50 will be waived the first year but will be assessed in subsequent years. You will incur the annual fee even if you don't have a balance. Property insurance is required. Flood insurance may be required. We will require a full appraisal, at applicant's expense, in the event your property is in a FEMA-deemed natural disaster area. If the state and/or county in which the collateral is located charges additional fees and taxes, the borrower will be responsible for payment. A $200 termination fee may be applied to an Interest-only HELOC cancelled or closed by the borrower within 36 months of origination. Refinancing of Alliant home equity products available; $250 fee on loans that do not increase the credit limit by $10,000 or more. Rates, terms, and conditions subject to change. Other restrictions may apply. Interest-only HELOC loans available on 1 to 2 unit owner occupied dwellings. Please consult with an Alliant Loan Consultant at 800-328-1935 ext. 2570 for more information on an Alliant Interest-only Home Equity Line of Credit.

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Headquarters

11545 W Touhy Ave
Chicago, IL 60666
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Hours of Operation

Sunday
Closed
Monday
8:30AM - 5:00PM
Tuesday
8:30AM - 5:00PM
Wednesday
8:30AM - 5:00PM
Thursday
8:30AM - 5:00PM
Friday
8:30AM - 5:00PM
Saturday
Closed

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