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Last Updated: 04/18/2025

Connex CU Home Equity Lines of Credit

from Connex Credit Union

Last Updated: 04/18/2025

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Highlights

Credit Score Range

N/A

Amount Range

$10,000 - $300,000

Maximum LTV

N/A

Minimum Draw

N/A

Loan Term (Years)

Up to 20

Connex CU Home Equity Lines of Credit Review

Connex CU Home Equity Lines of Credit is offered by Connex Credit Union , a credit union founded in 1940 and based in North Haven, CT. Connex CU Home Equity Lines of Credit are available in 50 states and Washington, DC.

Key Takeaways

No primary residences considered. Connex CU Home Equity Lines of Credit 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.
Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Connex CU Home Equity Lines of Credit.

Connex CU Home Equity Lines of Credit Pros & Cons

Pros

Cons

Available in all 50 states.

Charges an origination fee.
Charges prepayment fees.

Connex CU Home Equity Lines of Credit 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 $300,000. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.

Typically, borrowers with good credit can qualify for up to 85% of the property value, minus the balance on their first mortgage.

What are the terms for Connex CU Home Equity Lines of Credit?

HELOCs include a draw period followed by a repayment period. During the draw period, borrowers can access funds as needed up to the credit limit.

Connex CU Home Equity Lines of Credit offers home equity loans with a maximum term of 20 years and a draw period of up to 10 years.

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

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

Connex CU Home Equity Lines of Credit may charge an origination fee.

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Contact

Headquarters

412 Washington Ave

North Haven, CT 06473

(203) 603-5700

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Email Support

Hours of Operation

SundayClosedMonday8:00AM - 3:00PMTuesday8:00AM - 3:00PMWednesday8:00AM - 3:00PMThursday8:00AM - 6:00PMFriday8:00AM - 5:00PMSaturday9:00AM - 12:00PM

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SuperMoney Net Recommendation Score

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-1000+100

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