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  Consumers Credit Union HELOC

Consumers Credit Union HELOC

in Home Equity Lines of Credit from Consumers Credit Union

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Consumers Credit Union HELOC

Unaffiliated

in Home Equity Lines of Credit from Consumers Credit Union

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Highlights
Highlights
Loan Amount N/A
APR  (Variable APR) 4.75% - 18%
Maximum LTV 85%

Consumers Credit Union HELOC Review

Consumers Credit Union HELOC is offered by Consumers Credit Union, a credit union founded in 1930 and based in Waukegan, IL. Consumers Credit Union HELOC is available in 50 states (and Washington, DC).

What are the terms for a HELOC via Consumers Credit Union HELOC?

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. 

Consumers Credit Union HELOC offers home equity loans with terms ranging from 30 to 30 years.

Is there a minimum draw requirement?

No, there isn't a minimum draw requirement.

What range of rates does Consumers Credit Union HELOC offer?

Consumers Credit Union HELOC offers APRs starting at 4.75% and up to 18%.

Remember the APRs of HELOCs do not include points and financing charges, just the interest rate. Most home equity lines of credit have a variable interest rate. Fixed interest rates -- if available -- typically have higher APRs, but your monthly payments don't change over the life of the line of credit.

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

Consumers Credit Union HELOC may charge a loan origination fee. Another fee you should factor in is a cancelation fee of up to $300.

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

Lenders often have restrictions on the type of properties they will accept as security for a HELOC. Consumers Credit Union HELOC will consider lines of credit secured by the following property types:

  • Primary homes.

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Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Introductory Rate 4.75%
Purchase Intro APR Period (Variable APR) 12 months
Cancellation Fee $300
Credit Score Range 660 - 840
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Intended Use Primary Home
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Minimum Age 18
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
  • Tax Returns
Verification Documents Required
  • Government Issued Photo ID
  • Proof of Identity
  • Proof of Income
  • Proof of Residence
  • Social Security Number
Maximum LTV 85%
Draw Period 10 years
Repayment Period 20 years
Loan Term 30 years
APR (Variable APR) 4.75% - 18%

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