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Home Equity Lines of Credit
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Last Updated: 04/18/2025

Journey Federal CU Premium Home Equity Line of Credit

in Home Equity Lines of Credit from Journey Federal Credit Union

Last Updated: 04/18/2025

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Highlights

Credit Score Range

N/A

Amount Range

$5,000 - $100,000

Maximum LTV

80%

Minimum Draw

N/A

Loan Term (Years)

Up to 15
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Journey Federal CU Premium Home Equity Line of Credit Review

Journey Federal CU Premium Home Equity Line of Credit is offered by Journey Federal Credit Union (NMLS #665895), a credit union founded in 1972 and based in Saint Johns, MI. Journey Federal CU Premium Home Equity Line of Credit 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. Journey Federal CU Premium Home Equity Line of Credit has a maximum loan to value ratio of 80%.

Journey Federal CU Premium Home Equity Line of Credit Pros & Cons

Journey Federal CU Premium Home Equity Line 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 $100,000. 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 Journey Federal CU Premium 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.
Journey Federal CU Premium Home Equity Line of Credit offers home equity loans with a maximum term of 15 years and a draw period of up to 5 years.

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

What fees does Journey Federal CU Premium Home Equity Line of Credit charge for a HELOC?

Journey Federal CU Premium Home Equity Line of Credit may charge an origination fee.

What types of property can you use as security for a HELOC with Journey Federal CU Premium Home Equity Line of Credit?

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

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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

1200 Zeeb Dr
Saint Johns, MI 48879
(989) 227-3700
Visit Site
Email Support

Hours of Operation

Sunday
Closed
Monday
9:00AM - 5:00PM
Tuesday
9:00AM - 5:00PM
Wednesday
9:00AM - 5:00PM
Thursday
9:00AM - 5:00PM
Friday
9:00AM - 5:00PM
Saturday
9:00AM - 12:00PM

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