Home Equity Loans


With a BFSFCU HELOC you can:

  • Benefit from rates as low as 7.75% APR* up to 90% of the value of your home and a variable prime rate as low as 7.75% APR* thereafter.
  • Remodel your home or use the credit line for big purchases – it’s easy to draw from at any time.
  • Borrow from this credit line at any time over the next 10 years.
  • Pay interest only or principal and interest payments from the start of your loan – with limits ranging from $25,000 to $500,000.

Table data for HOME EQUITY LINE OF CREDIT
 04-28-2024
Account Type
Term
Interest Only / Draw Period
APR
 Payment Example ($25,000 loan amount) Alert Me
HELOC
30 years
10 years
 7.75%* until the first rate change. Rate will adjust quarterly and is subject to increases based on Prime.
$166.331
* Rate quoted assumes a minimum credit score of 700 and a maximum combined loan-to-value (CLTV) of 90%

Home Equity Line of Credit refers to an owner-occupied residence and 90% of Fair Market Value minus other loans. The maximum CLTV on home equity lines of credit is 90%. For loans with a CLTV greater than 80%, higher rates will apply. The Annual Percentage Rate (APR) for variable rate loan products may increase in accordance with the Wall Street Journal Prime Rate (“Index”, currently 7.750%). The maximum APR at any time is 18%.

HELOC is a variable rate product. The annual percentage rate may change monthly. The rate will not exceed the maximum legal limit for Federal Credit Unions (currently 18%). The annual percentage rate will never go below 4% at any time during the term of the plan. Interest only loan has a 10 year draw period followed by a 20 year repayment period.

Lien recordation is required. Appraisal, recordation taxes and other closing costs apply and will be at the member's expense. These closing costs vary based on the property location, the loan amount requested, the fair market value and the combined loan-to-value (CLTV) ratio. Property insurance is required. HELOC products are not available for investment properties. Please consult with a tax adviser on the deductibility of interest. Other terms and conditions apply, please call 202-212-6400 for details.

1Example is for interest and principal payment.