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

Sterling United FCU Home Equity Line of Credit

in Home Equity Lines of Credit from Sterling United Federal 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

80%

Minimum Draw

N/A

Loan Term (Years)

15
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Sterling United FCU Home Equity Line of Credit Review

Sterling United FCU Home Equity Line of Credit is offered by Sterling United Federal Credit Union , a credit union founded in 1956 and based in Evansville, IN. Sterling United FCU Home Equity Line of Credit are available in 50 states and Washington, DC.

Key Takeaways

  • Only primary residences considered. Sterling United FCU Home Equity Line of Credit 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. Sterling United FCU Home Equity Line of Credit has a maximum loan to value ratio of 80%.

Sterling United FCU Home Equity Line of Credit Pros & Cons

Sterling United FCU 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 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.

What are the terms for Sterling United FCU 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.
Sterling United FCU Home Equity Line of Credit 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 Sterling United FCU Home Equity Line of Credit charge for a HELOC?

Sterling United FCU Home Equity Line of Credit may charge an origination fee.

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

Sterling United 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

1330 W Franklin St
Evansville, IN 47710
(812) 425-0111
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Email Support

Hours of Operation

Sunday
Closed
Monday
9:00AM - 4:30PM
Tuesday
9:00AM - 4:30PM
Wednesday
9:00AM - 4:30PM
Thursday
9:00AM - 4:30PM
Friday
8:30AM - 5:00PM
Saturday
Closed

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