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Last Updated: 04/18/2025

Finex Credit Union HELOC

from Finex Credit Union

Last Updated: 04/18/2025

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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

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%.
Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Finex Credit Union HELOC.

Finex Credit Union HELOC Pros & Cons

Pros

Cons

Available in all 50 states.

Charges an origination fee.
Charges prepayment fees.

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

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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

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SuperMoney Net Recommendation Score

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-1000+100

No one recommends

Everyone recommends

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.