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

Levo CU Home Equity Lines of Credit

in Home Equity Lines of Credit from Levo Credit Union

Last Updated: 04/18/2025

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Credit Score Range

N/A

Amount Range

N/A

Maximum LTV

100%

Minimum Draw

N/A

Loan Term (Years)

Up to 10
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Levo CU Home Equity Lines of Credit Review

Levo CU Home Equity Lines of Credit is offered by Levo Credit Union (NMLS #441310), a credit union founded in 1934 and based in Sioux Falls, SD. Levo CU Home Equity Lines of Credit are available in 50 states, 5 US territories, and Washington, DC.

Key Takeaways

  • No primary residences considered. Levo CU Home Equity Lines 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. Levo CU Home Equity Lines of Credit has a maximum loan to value ratio of 100%.

Levo CU Home Equity Lines of Credit Pros & Cons

Levo CU Home Equity Lines 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 $500,000. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.
The maximum loan-to-value (LTV) ratio goes up to 100%. 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 $80k in credit.

What are the terms for Levo CU Home Equity Lines 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.
Levo CU Home Equity Lines of Credit offers home equity loans with a maximum term of 10 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 Levo CU Home Equity Lines of Credit charge for a HELOC?

Levo CU Home Equity Lines of Credit may charge an origination fee.

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Contact

Headquarters

700 E 14th St
Sioux Falls, SD 57104
(605) 334-2471
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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
Closed

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