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Last Updated: 04/18/2025

LCU Home Equity Plus 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 20

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%.
Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for LCU Home Equity Plus Line of Credit.

LCU Home Equity Plus Line of Credit Pros & Cons

Pros

Cons

Available in all 50 states.

Charges an origination fee.
Charges prepayment fees.

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.

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

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

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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 29

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SuperMoney Net Recommendation Score

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-1000+100

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