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Last Updated: 04/18/2025

Encompass Credit Union Home Equity Lines of Credit

from Encompass Credit Union

Last Updated: 04/18/2025

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Loan Term (Years)

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Encompass Credit Union Home Equity Lines of Credit Review

Encompass Credit Union Home Equity Lines of Credit is offered by Encompass Credit Union , a credit union founded in 1953 and based in Tipton, IN. Encompass Credit Union Home Equity Lines of Credit are available in 50 states and Washington, DC.

Key Takeaways

  • Only primary residences considered. Encompass Credit Union Home Equity Lines of Credit does not offer financing for vacation homes or investment properties.
  • No-closing-cost mortgages available. This option allows you to include the closing costs into the new loan, so you don't pay for these expenses upfront.
  • 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 Encompass Credit Union Home Equity Lines of Credit.

Encompass Credit Union Home Equity Lines of Credit Pros & Cons

Encompass Credit Union 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 $500,000. 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 Encompass Credit Union 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.
Encompass Credit Union Home Equity Lines of Credit offers home equity loans with terms ranging from 20 to 20 years.

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

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

Encompass Credit Union Home Equity Lines of Credit may charge an origination fee.

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

Encompass Credit Union may consider HELOCs secured by the following property types:
  • Primary residences

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

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

221 N Main St
Tipton, IN 46072
(800) 675-8852
Visit Site

Hours of Operation

Sunday
Closed
Monday
8:30AM - 4:30PM
Tuesday
8:30AM - 4:30PM
Wednesday
8:30AM - 4:30PM
Thursday
8:30AM - 4:30PM
Friday
8:30AM - 4:30PM
Saturday
9:00AM - 12:00PM

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SuperMoney Net Recommendation Score

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The recommendation score reflects customer satisfaction with a provider. A score of +100 means every customer recommends the provider, while -100 means none of them do. These scores are based entirely on community member votes and are not influenced by partner compensation. SuperMoney removes fake reviews when detected.

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