Is LCU Home Equity Line of Credit the right fit for you?

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Last Updated: 04/18/2025

LCU Home Equity Line of Credit

from Leominster Credit Union

Last Updated: 04/18/2025

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Highlights

Credit Score Range

N/A

Amount Range

$10,000 - $250,000

Maximum LTV

95%

Minimum Draw

N/A

Loan Term (Years)

Up to 29

LCU Home Equity Line of Credit Review

LCU Home Equity Line of Credit is offered by Leominster Credit Union (NMLS #517287), a credit union founded in 1954 and based in Leominster, MA. LCU 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.
High maximum LTV ratio. LCU Home Equity Line of Credit has a maximum loan to value ratio of 95%.
Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for LCU Home Equity Line of Credit.

LCU Home Equity Line of Credit Pros & Cons

Pros

Cons

Available in all 50 states.

Charges an origination fee.
Charges prepayment fees.

LCU 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 $250,000. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.

The maximum loan-to-value (LTV) ratio goes up to 95%. 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 $75k in credit.

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

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

LCU Home Equity Line of Credit may charge an origination fee.

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

Leominster Credit Union may consider HELOCs secured by the following property types:

Primary residences
Secondary or vacation homes

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Contact

Headquarters

20 Adams St

Leominster, MA 01453

(800) 649-4646

Email Support

Hours of Operation

SundayClosedMonday8:30AM - 5:00PMTuesday8:30AM - 5:00PMWednesday8:30AM - 5:00PMThursday8:30AM - 6:00PMFriday8:30AM - 5:00PMSaturday8:30AM - 12:00PM

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Credit Score Range

N/A

Amount Range

$10K - $250K

Maximum LTV

95%

Minimum Draw

N/A

Loan Term (Years)

Up to 20

Availability

Available in 50 states and Washington, D.C.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
District of Columbia
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming

SuperMoney Net Recommendation Score

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-1000+100

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