Skip to content
SuperMoney logo
SuperMoney logo
Home Equity Lines of Credit
Advertiser Disclosure

Last Updated: 04/18/2025

Finex Credit Union HELOC

in Home Equity Lines of Credit from Finex Credit Union

Last Updated: 04/18/2025

Finex Credit Union logo
No Reviews Yet

This product has no reviews yet. Help others by sharing your thoughts.

Be the first to rate
Cast Your Vote icon

Cast Your Vote

Compare All Home Equity Lines of Credit

Filter & compare all your options in one place.

Filter & compare all your options in one place.

View All Products
Highlights icon

Highlights

Credit Score Range

N/A

Amount Range

$25,000 - $400,000

Maximum LTV

80%

Minimum Draw

N/A

Loan Term (Years)

Up to 15
Speech bubbles icon

Finex Credit Union HELOC Review

Finex Credit Union HELOC is offered by Finex Credit Union (NMLS #645503), a credit union founded in 1938 and based in East Hartford, CT. Finex Credit Union HELOC are available in 50 states and Washington, DC.

Key Takeaways

  • Investment and personal use properties considered. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
  • Maximum LTV. Finex Credit Union HELOC has a maximum loan to value ratio of 80%.

Finex Credit Union HELOC Pros & Cons

Finex 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 $400,000. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.
The maximum loan-to-value (LTV) ratio goes up to 80%. 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 $60k in credit.

What are the terms for Finex Credit Union HELOC?

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.
Finex Credit Union HELOC offers home equity loans with a maximum term of 15 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 Finex Credit Union HELOC charge for a HELOC?

Finex Credit Union HELOC may charge an origination fee.

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

Finex Credit Union may consider HELOCs secured by the following property types:
  • Primary residences
  • Secondary or vacation homes

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

616 Burnside Ave
East Hartford, CT 06108
(860) 282-0001
Visit Site
Email Support

Hours of Operation

Sunday
Closed
Monday
8:00AM - 4:30PM
Tuesday
8:00AM - 4:30PM
Wednesday
9:30AM - 4:30PM
Thursday
8:00AM - 6:00PM
Friday
8:00AM - 4:30PM
Saturday
Closed

Other Services by Finex Credit Union