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  Educators Credit Union HELOC

Educators Credit Union HELOC

in Home Equity Lines of Credit from Educators Credit Union · NMLS ID #67380

Unaffiliated

Educators Credit Union HELOC

Unaffiliated

in Home Equity Lines of Credit from Educators Credit Union · NMLS ID #67380

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Highlights
Loan Amount N/A
APR  (Variable APR) 3.49% - 17.9%
Maximum LTV 100%

Educators Credit Union HELOC Review

Educators Credit Union HELOC is offered by Educators Credit Union (NMLS #67380), a credit union founded in 1937 and based in Racine, WI. Educators Credit Union HELOC is available in 1 state across the USA.

Educators Credit Union HELOC FAQ

Is there a minimum draw requirement?

No, there isn't a minimum draw requirement.

What range of rates does Educators Credit Union HELOC offer?

Educators Credit Union HELOC offers APRs starting at 3.49% and up to 17.9%.

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 Educators Credit Union HELOC charge for a HELOC?

Educators Credit Union HELOC may charge a loan origination fee .

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

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

  • Primary homes.

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Message From Educators Credit Union HELOC

Do you want to use the equity you have built in your primary residence? With our Fixed Home Equity Loans or our Home Equity Lines of Credit (HELOC), you can do just that. You can borrow 80% of your home’s value at a low rate or borrow up to 100% of the value at a slightly higher rate. Our home equity loans have fixed interest rates, fixed monthly payments and flexible repayment terms.

Home Equity Line of Credit is an open-ended loan for members who want to borrow up to an approved limit, pay it back, and borrow again, all without reapplying for a new loan.

Availability

  Available in 1 state
Wisconsin
Availabile in all of Wisconsin

Feature Breakdown

Credit Score Range 700 - 840
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Intended Use Primary Home
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
  • Tax Returns
Verification Documents Required
  • Recent Pay Stubs
  • Proof of Income
  • Loan Payoff Statements
  • Proof of Identity
  • Proof of Residence
  • Proof of Insurance
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
  • Driver License (or other photo ID)
Maximum LTV 100%
Loan Term 5 - 30 years
APR (Variable APR) 3.49% - 17.9%
Interest Rate Types Offered Adjustable-Rate Mortgage (ARM)

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