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Last Updated: 04/18/2025

IU Credit Union Home Equity Line of Credit

from IU Credit Union

Last Updated: 04/18/2025
IU Credit Union logo
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Highlights

Credit Score Range

N/A


Amount Range

Starting at $10,000

Maximum LTV

90%

Minimum Draw

N/A


Loan Term (Years)

30

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IU Credit Union Home Equity Line of Credit Review

IU Credit Union Home Equity Line of Credit is offered by IU Credit Union (NMLS #415754), a credit union founded in 1956 and based in Bloomington, IN. IU Credit Union Home Equity Line of Credit are available in 50 states and Washington, DC.

Key Takeaways

  • Only primary residences considered. IU Credit Union Home Equity Line 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.
  • Origination fees starting at $150.00.Origination fees are deducted from the loan amount, so take it into account when deciding how much you need to borrow.
  • High maximum LTV ratio. IU Credit Union Home Equity Line of Credit has a maximum loan to value ratio of 90%.
  • Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for IU Credit Union Home Equity Line of Credit.

IU Credit Union Home Equity Line of Credit Pros & Cons

IU Credit Union Home Equity Line of Credit FAQ

What are the terms for IU Credit Union Home Equity Line 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.
IU Credit Union Home Equity Line of Credit offers home equity loans with terms ranging from 30 to 30 years.

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

What fees does IU Credit Union Home Equity Line of Credit charge for a HELOC?

IU Credit Union Home Equity Line of Credit may charge an origination fee. Dollar fees may range from $150.00 to $150.00.

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

IU 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

510 E 17th St
Bloomington, IN 47408
(812) 855-7823
Visit Site

Hours of Operation

SundayClosedMonday9:00AM - 5:00PMTuesday9:00AM - 5:00PMWednesday9:00AM - 5:00PMThursday9:00AM - 5:00PMFriday9:00AM - 5:00PMSaturday9:00AM - 5:30PM

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