Is PenFed Credit Union HELOC the right fit for you?

Last Updated: 10/26/2026

PenFed Credit Union HELOC

from PenFed Credit Union

NMLS ID #401822

Last Updated: 10/26/2026

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Highlights

Credit Score Range

N/A

Amount Range

$25,000 - $500,000

Maximum LTV

85%

Minimum Draw

N/A

Loan Term (Years)

N/A

PenFed Credit Union HELOC Review

PenFed Credit Union HELOC is offered by PenFed Credit Union (NMLS #401822), a credit union founded in 1935 and based in Tysons, VA. PenFed Credit Union HELOC are available in 50 states and Washington, DC.

Key Takeaways

Primary and secondary homes considered. Investment homes, such as rental properties, do not qualify for financing. However, PenFed Credit Union HELOC does offer financing for primary and secondary homes (e.g. vacation properties).
No origination fees. PenFed Credit Union HELOC does not charge fees for processing your application.
High maximum LTV ratio. PenFed Credit Union HELOC has a maximum loan to value ratio of 85%.

PenFed Credit Union HELOC Pros & Cons

Pros

Cons

No origination fees.
No prepayment penalty.
Available in all 50 states.

No co-sign option available.

PenFed Credit Union HELOC 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 85%. 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 $65k in credit.

What are the terms for PenFed Credit Union HELOC?

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.

PenFed Credit Union HELOC offers a draw period of up to 10 years

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

What fees does PenFed Credit Union HELOC charge for a HELOC?

PenFed Credit Union does not charge origination fees. However, there is an annual fee of $99.

What types of property can you use as security for a HELOC with PenFed Credit Union HELOC?

PenFed 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

7940 Jones Branch Dr

Tysons, VA 22102

(800) 247-5626

Email Support

Hours of Operation

SundayClosedMonday8:00AM - 4:00PMTuesday8:00AM - 4:00PMWednesday8:00AM - 4:00PMThursday8:00AM - 4:00PMFriday8:00AM - 4:00PMSaturdayClosed

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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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