Get cash out of your home fast with iQ's Home Equity Line of Credit

Apply between today and November 30, 2021 to enjoy no closing costs!*

Make Home Upgrades
Pay Off Credit Cards
Handle Unexpected Bills
Non Members Apply Here Current Members Apply Here

*APR = Annual Percentage Rate. Rates are variable and vary with Prime Index Rate as published by the current Wall Street Journal, currently 3.25%. We add a margin to the index to determine the actual interest rate. The minimum APR is 3.75% The maximum APR is 15.00%. Actual rates depend on member credit qualifications including credit and employment history, and amount of equity in the property. Promotional waiver of closing costs pertains to all costs required to open the line of credit except for any required appraisal. If an appraisal is required, borrower will be required to pay for such appraisal, normally $675 or more. If the Home Equity Line of Credit is paid off and closed within the first 36 months, waived closing costs must be repaid to the credit union (up to $300). Minimum loan amount is $10,000, but there is no minimum advance requirement. Credit is subject to approval, not all applicants will qualify. Fees that occur after the line is opened, such as annual fee ($35) and reconveyance fee are not considered closing costs. Flood and /or property hazard insurance may be required and are also not considered closing costs. All Credit Union loan programs, rates, terms, and conditions are subject to change at any time without notice. All loans subject to approval of property. Current APR range of % is accurate as of 10/01/2021. Promotion is valid for applications taken between August 11, 2021 and November 30, 2021 (and the loan must be funded no later than December 30, 2021).

Home Equity Line of Credit

Transform the cash sitting in your home into a powerful line of credit

HELOC stands for Home Equity Line of Credit. We basically turn the equity you already have in your home into a line of credit that you can pull from when you need it. So your investment continues to grow, and you reserve your cash for other things - like sweet roller skates or a buffalo plaid dog leash.

Consider a HELOC if:

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    You’re satisfied with your current mortgage and/or you don’t want to jump through the hoops to refinance and get cash out

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    You’re unsure of how much cash out you need

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    You love the idea of having some financial flexibility

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    You like the sound of paying off debts quicker

When you line up a HELOC with iQ, you’re doing business with a local organization with deep roots in our shared community. We truly care about taking good care of you. Let us help you get securely situated to handle whatever might come your way. Until October 30, 2021 we'll even cover those closing costs to keep more money in your pocket.*

Why Get a HELOC?

Turn the value of your home into cash because you’ve earned it.

You are a responsible homeowner. You have worked hard to buy your home, and you make regular mortgage payments. Why not turn your home value into cash with a simple home equity line of credit?

A HELOC lets you use the untapped value of your home into a line of credit you can access at any time. Consider the possibilities:

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    Remodel your home

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    Pay off credit card debt

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    Make a down payment on a new home

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    Have extra money to pay for emergencies

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    Have access to cash when you want it

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    Pay off other high-interest debt

With a HELOC, you only pay interest on what you use. And iQ offers several options specifically designed to meet your financial needs. A HELOC is a great way to create a pool of ready cash to give you peace of mind. It’s ideal if you don’t know how much you may need and want financial flexibility or if you just want to tap your home equity without having to refinance.

iQ's Home Equity Line of Credit

Benefits 

With a flexible line of credit and several different options to best fit your specific needs, putting the equity that’s sitting in your home to work for you can be a smart and strategic financial decision. 

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    Easy application process

    Apply online, over the phone, or inside online banking

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    Locally processed and serviced

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    Typically doesn't require appraisal

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    Limits as low as $10,000

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    Options for non-owner-occupied properties

Home Equity Line of Credit - Rates Effective as of April 1, 2020
Loan Type APR Fixed or Variable Rate Index Margin Annual Fee Title-Date More Info
up to 80% Home Equity Line of Credit 3.75% - 5.00% Variable Prime Rate -.25% - 1.75% $35
85% Home Equity Line of Credit 3.75% - 5.75% Variable Prime Rate .50% - 2.50% $35
90% Home Equity Line of Credit 4.50% - 5.50% Variable Prime Rate 1.25% - 2.25% $35

* APR = Annual Percentage Rate. Actual rates depend on member credit qualifications including credit and employment history, and amount of equity in the property. The current Wall Street Journal prime index rate is 3.25%. We add a margin to the index to determine the actual interest rate. The minimum APR is 3.75%. The maximum APR is 15.00%. Rates for fixed term conversions taken against the line range from 3.75% APR to 7.5% APR. Loan Costs: Range between $155 and $1,500 to cover third party costs, and are paid by the borrower. Learn more about Home Equity.

Calculators

Find Out How a Home Equity Line of Credit Can Help you Reach your Goals