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Last Updated: 07/11/2025

State Employees' Credit Union Home Equity Line of Credit

from State Employees Credit Union

Last Updated: 07/11/2025

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Highlights

Credit Score Range

N/A

Amount Range

N/A

Maximum LTV

90%

Minimum Draw

N/A

Loan Term (Years)

Starting at 16

State Employees' Credit Union Home Equity Line of Credit Review

State Employees' Credit Union Home Equity Line of Credit is offered by State Employees Credit Union (NMLS #430055), a credit union founded in 1937 and based in Raleigh, NC. State Employees' Credit Union Home Equity Line of Credit are available in 4 states.

Key Takeaways

Investment and personal use properties considered. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
Origination fees of $0 to $1,850.
High maximum LTV ratio. State Employees' Credit Union Home Equity Line of Credit has a maximum loan to value ratio of 90%.

State Employees' Credit Union Home Equity Line of Credit Pros & Cons

Pros

Cons

Charges an origination fee.
Charges prepayment fees.
No co-sign option available.
Only available in 4 states.

State Employees' 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 $500,000. The maximum amount depends on property value, existing mortgage balance, and creditworthiness.

The maximum loan-to-value (LTV) ratio goes up to 90%. 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 $70k in credit.

What are the terms for State Employees' 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.

State Employees' Credit Union Home Equity Line of Credit offers a draw period of up to 15 years

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

What fees does State Employees' Credit Union Home Equity Line of Credit charge for a HELOC?

State Employees' Credit Union Home Equity Line of Credit may charge an origination fee. Dollar fees may range from $0 to $1,850.

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

State Employees 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

1000 Wade Ave

Raleigh, NC 27605

(888) 732-8562

Visit Site

Email Support

Hours of Operation

Sunday

Closed

Monday

8:30AM - 5:30PM

Tuesday

8:30AM - 5:30PM

Wednesday

8:30AM - 5:30PM

Thursday

8:30AM - 5:30PM

Friday

8:30AM - 5:30PM

Saturday

Closed

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SuperMoney Net Recommendation Score

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-1000+100

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