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

Safeway Federal Credit Union Second Mortgage HELOC

in Home Equity Lines of Credit from Safeway Federal Credit Union

Last Updated: 04/18/2025

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Credit Score Range

N/A


Amount Range

N/A


Maximum LTV

80%

Minimum Draw

N/A


Loan Term (Years)

Up to 15

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Safeway Federal Credit Union Second Mortgage HELOC Review

Safeway Federal Credit Union Second Mortgage HELOC is offered by Safeway Federal Credit Union , a credit union founded in and based in Spokane, WA. Safeway Federal Credit Union Second Mortgage HELOC are available in 50 states and Washington, DC.

Key Takeaways

  • Only primary residences considered. Safeway Federal Credit Union Second Mortgage HELOC 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.
  • Maximum LTV. Safeway Federal Credit Union Second Mortgage HELOC has a maximum loan to value ratio of 80%.

Safeway Federal Credit Union Second Mortgage HELOC Pros & Cons

Safeway Federal Credit Union Second Mortgage 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 80%. 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 $60k in credit.

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

What fees does Safeway Federal Credit Union Second Mortgage HELOC charge for a HELOC?

Safeway Federal Credit Union Second Mortgage HELOC may charge an origination fee.

What types of property can you use as security for a HELOC with Safeway Federal Credit Union Second Mortgage HELOC?

Safeway Federal Credit Union may consider HELOCs secured by the following property types:
  • Primary residences

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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

529 E North Foothills Dr
Spokane, WA 99207
Visit Site

Hours of Operation

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

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