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

SIUE Credit Union Home Equity Line of Credit

in Home Equity Lines of Credit from SIUE Credit Union

Last Updated: 04/18/2025

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Highlights

Credit Score Range

N/A

Amount Range

Up to $150,000

Maximum LTV

97%

Minimum Draw

$5,000

Loan Term (Years)

Up to 15
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SIUE Credit Union Home Equity Line of Credit Review

SIUE Credit Union Home Equity Line of Credit is offered by SIUE Credit Union , a credit union founded in 1959 and based in Edwardsville, IL. SIUE Credit Union Home Equity Line of Credit are available in 50 states and Washington, DC.

Key Takeaways

  • Only primary residences considered. SIUE Credit Union Home Equity Line of Credit does not offer financing for vacation homes or investment properties.
  • High maximum LTV ratio. SIUE Credit Union Home Equity Line of Credit has a maximum loan to value ratio of 97%.

SIUE Credit Union Home Equity Line of Credit Pros & Cons

SIUE Credit Union Home Equity 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 $150,000.00. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.
The maximum loan-to-value (LTV) ratio goes up to 97%. 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 $77k in credit.

What are the terms for SIUE Credit Union Home Equity Line 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.
SIUE Credit Union Home Equity Line of Credit offers home equity loans with a maximum term of 15 years and a draw period of up to 5 years.

Is there a minimum draw requirement?

Yes. The minimum draw requirement is $5,000.00.

What fees does SIUE Credit Union Home Equity Line of Credit charge for a HELOC?

SIUE Credit Union Home Equity Line of Credit may charge an origination fee.

What types of property can you use as security for a HELOC with SIUE Credit Union Home Equity Line of Credit?

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

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Contact

Headquarters

1566 Lewis Rd
Edwardsville, IL 62025
(618) 650-3760
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Hours of Operation

Sunday
Closed
Monday
8:30AM - 5:00PM
Tuesday
8:30AM - 5:00PM
Wednesday
8:30AM - 5:00PM
Thursday
8:30AM - 5:00PM
Friday
8:30AM - 5:00PM
Saturday
Closed

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