Welcome! We're glad you're here.

Putting Your Home's Equity to Use

A home equity loan or line of credit can open new doors.

Couple working outside on deck
Transfer a home equity loan or line and get up to $250 cash1.
  1. Overview
  2. Rates

Overview

You've worked hard to build equity in your home. Now you can use it, on anything from home improvements to paying off debts to financing an education. You can borrow up to 100% of your home's value, less your remaining mortgage balance.

Fixed Home Equity Loans

Opening a Home Equity Loan gives you a lump sum amount at a low, competitive fixed rate.

Variable Home Equity Line of Credit (HELOC)

With a HELOC, you can borrow funds when you need it with competitive variable rates as low as 3.50%2.

Both Home Equity Loans and HELOCs come with:

  • Up to $250 cash back when you transfer an existing Home Equity Loan or Line of Credit to Target Credit Union1
  • No annual fees or closing costs3
  • A possible tax deduction on the interest you pay4
  • A rate reduction up to 0.50% APR5 when you qualify for Rewards Rates.

Explore your home equity options.

Apply Now!

1A Home Equity Loan or Line of Credit must be transferred to the Credit Union from another financial institution to qualify. Cash back amount will vary by state. GA, WI, AZ, FL, MD, and NY members will receive $200 cash back. All other states will receive $250 cash back. Cash back amount will be deposited into your Credit Union savings or checking account when the loan closes. We will not deposit the cash back amount into an account at another financial institution. Applies to loans up to 80% LTV (loan-to-value). Must take a minimum initial advance of $20,000 in new money in order to be eligible for the cash back offer. Existing Credit Union Home Equity Loans/Lines of Credit and Credit Union First Mortgages do not qualify for this offer.

2APR is Annual Percentage Rate. The APR is a variable rate based on the highest Prime Rate published in the “Money Rates” section of The Wall Street Journal on the first business day of the calendar month. The APR on BCU’s equity line products vary between 3.50% and 18.00%, depending on your approved commitment amount, product and credit qualifications. Rates shown assume an automated payment method. You may reduce your APR up to 0.50% with Rewards Rates. This includes a 0.50% discount for having two of the following relationships: direct deposit of at least $500 per month into your credit union checking account; at least $25,000 on deposit, or a loan in good standing. Qualifying loan types include mortgage, home equity, auto, and credit card. Closing costs vary by state and range from $700-$1300. Closing costs paid by BCU are limited to appraisal, flood determination, title insurance and recording fees. Costs to satisfy certain prior liens may be assessed. Property insurance is required; flood insurance may be required. Offer applies to owner-occupied residential 1-4 family properties and is subject to no less than a second lien position on your property and is subject to our underwriting standards. Consult your tax advisor regarding the deductibility of interest. All loans subject to final credit approval, which includes verification of application information and receipt of collateral documents.

3Closing costs vary by state and range from $700-$1300. Closing costs paid by BCU are limited to appraisal, flood determination, title insurance and recording fees. Costs to satisfy certain prior liens may be assessed.

4Consult your tax advisor regarding the deductibility of interest.

5You may reduce your APR up to 0.50% with Rewards Rates. This includes a 0.50% discount for having two of the following relationships: direct deposit of at least $500 per month into your credit union checking account; at least $25,000 on deposit, or a loan in good standing. Qualifying loan types include mortgage, home equity, auto, and credit card. A qualifying loan must have a current balance and credit cards must have a transaction within the past 30 days. Any Credit Union loan that is not in good standing or delinquent will disqualify you for Rewards Rates. All rates are subject to credit certification and approval. The rates shown are the lowest available and your rate may be higher.