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Last Updated: 04/18/2025

Penn State FCU Home Equity Credit Line

from Penn State Federal Credit Union

Last Updated: 04/18/2025

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Highlights

Credit Score Range

N/A

Amount Range

$5,000 - $100,000

Maximum LTV

N/A

Minimum Draw

N/A

Loan Term (Years)

Penn State FCU Home Equity Credit Line Review

Penn State FCU Home Equity Credit Line is offered by Penn State Federal Credit Union (NMLS #401924), a credit union founded in 1959 and based in Bellefonte, PA. Penn State FCU Home Equity Credit Line are available in 1 state.

Key Takeaways

Only primary residences considered. Penn State FCU Home Equity Credit Line does not offer financing for vacation homes or investment properties.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
Origination fees starting at $375.00.Origination fees are deducted from the loan amount, so take it into account when deciding how much you need to borrow.
Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Penn State FCU Home Equity Credit Line.

Penn State FCU Home Equity Credit Line Pros & Cons

Pros

Cons

Charges an origination fee.
Charges prepayment fees.
Only available in 1 state.

Penn State FCU Home Equity Credit Line 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 $100,000.00. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.

Typically, borrowers with good credit can qualify for up to 85% of the property value, minus the balance on their first mortgage.

What are the terms for Penn State FCU Home Equity Credit Line?

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.

Penn State FCU Home Equity Credit Line offers home equity loans with terms ranging from 15 to 15 years.

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

What fees does Penn State FCU Home Equity Credit Line charge for a HELOC?

Penn State FCU Home Equity Credit Line may charge an origination fee. Dollar fees may range from $375.00 to $375.00.

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

Penn State Federal Credit Union may consider HELOCs secured by the following property types:

Primary residences

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Contact

Headquarters

123 Amberleigh Ln

Bellefonte, PA 16823

(814) 865-7728

Visit Site

Email Support

Hours of Operation

SundayClosedMonday9:00AM - 4:00PMTuesday9:00AM - 4:00PMWednesday9:00AM - 4:00PMThursday9:00AM - 4:00PMFriday9:00AM - 4:00PMSaturdayClosed

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SuperMoney Net Recommendation Score

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-1000+100

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