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Last Updated: 04/18/2025

Traverse Catholic FCU Home Equity Line of Credit

from Traverse Catholic Federal Credit Union

Last Updated: 04/18/2025

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Highlights

Credit Score Range

N/A

Amount Range

N/A

Maximum LTV

N/A

Minimum Draw

N/A

Loan Term (Years)

Starting at 1

Traverse Catholic FCU Home Equity Line of Credit Review

Traverse Catholic FCU Home Equity Line of Credit is offered by Traverse Catholic Federal Credit Union (NMLS #1128600), a credit union founded in 1950 and based in Traverse City, MI. Traverse Catholic FCU Home Equity Line of Credit are available in 50 states and Washington, DC.

Key Takeaways

Only primary residences considered. Traverse Catholic 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.
Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Traverse Catholic FCU Home Equity Line of Credit.

Traverse Catholic FCU Home Equity Line of Credit Pros & Cons

Pros

Cons

Available in all 50 states.

Charges an origination fee.
Charges prepayment fees.

Traverse Catholic 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 $500,000. 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.

Is there a minimum draw requirement?

No, there is no minimum draw requirement.

What fees does Traverse Catholic FCU Home Equity Line of Credit charge for a HELOC?

Traverse Catholic FCU Home Equity Line of Credit may charge an origination fee.

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

Traverse Catholic 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

3797 Veterans Dr

Traverse City, MI 49684

(231) 946-6655

Visit Site

Email Support

Hours of Operation

Sunday

Closed

Monday

9:00AM - 5:00PM

Tuesday

9:00AM - 5:00PM

Wednesday

9:00AM - 5:00PM

Thursday

9:00AM - 5:00PM

Friday

9:00AM - 6:00PM

Saturday

Closed

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SuperMoney Net Recommendation Score

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-1000+100

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