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

LCU Home Equity Plus Line of Credit

in Home Equity Lines 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 20
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LCU Home Equity Plus Line of Credit Review

LCU Home Equity Plus 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 Plus Line of Credit are available in 50 states and Washington, DC.

Key Takeaways

  • No primary residences considered. LCU Home Equity Plus Line of Credit does not offer financing for primary homes.
  • 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 Plus Line of Credit has a maximum loan to value ratio of 95%.

LCU Home Equity Plus Line of Credit Pros & Cons

LCU Home Equity Plus 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 Plus Line of Credit charge for a HELOC?

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

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Contact

Headquarters

20 Adams St
Leominster, MA 01453
(800) 649-4646
Visit Site
Email Support

Hours of Operation

Sunday
Closed
Monday
8:30AM - 5:00PM
Tuesday
8:30AM - 5:00PM
Wednesday
8:30AM - 5:00PM
Thursday
8:30AM - 6:00PM
Friday
8:30AM - 5:00PM
Saturday
8:30AM - 12:00PM

Other Services by Leominster Credit Union