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Last Updated: 04/18/2025

Bowater Credit Union HELOC

in Home Equity Lines of Credit from Bowater Credit Union

Last Updated: 04/18/2025

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Highlights

Credit Score Range

N/A

Amount Range

Up to $200,000

Maximum LTV

90%

Minimum Draw

N/A

Loan Term (Years)

Up to 30

Bowater Credit Union HELOC Review

Bowater Credit Union HELOC is offered by Bowater Credit Union (NMLS #554207), a credit union founded in 1954 and based in Calhoun, TN. Bowater Credit Union HELOC are available in 50 states and Washington, DC.

Key Takeaways

No primary residences considered. Bowater Credit Union HELOC does not offer financing for primary homes.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
High maximum LTV ratio. Bowater Credit Union HELOC has a maximum loan to value ratio of 90%.
Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Bowater Credit Union HELOC.

Bowater Credit Union HELOC Pros & Cons

Pros

Cons

Available in all 50 states.

Charges an origination fee.
Charges prepayment fees.

Bowater Credit Union HELOC FAQ

How much can you borrow with a HELOC?

HELOCs are lines of credit secured by your home. Once approved, you can access funds by check, phone, credit card, or online up to your credit limit.

Borrowers can apply for lines of credit of up to $200,000. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.

The maximum loan-to-value (LTV) ratio goes up to 90%. This means total debt secured by the property cannot exceed this percentage of its value. For example, on a $100,000 home with a $20,000 mortgage balance, you may qualify for up to $70k in credit.

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

What fees does Bowater Credit Union HELOC charge for a HELOC?

Bowater Credit Union HELOC may charge an origination fee.

What types of property can you use as security for a HELOC with Bowater Credit Union HELOC?

Bowater Credit Union may consider HELOCs secured by the following property types:

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Headquarters

5123 US-11

PO Box 359

Calhoun, TN 37309

(866) 285-4215

Visit Site

Email Support

Hours of Operation

Sunday

Closed

Monday

7:30AM - 4:00PM

Tuesday

7:30AM - 4:00PM

Wednesday

7:30AM - 4:00PM

Thursday

7:30AM - 4:00PM

Friday

7:30AM - 5:30PM

Saturday

Closed

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SuperMoney Net Recommendation Score

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-1000+100

No one recommends

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