Home Equity Loans & HELOCs
Unleash Your Home's Potential
Whether you’re ready to remodel your kitchen, consolidate high-interest debt, or make a major purchase, a Home Equity Line of Credit (HELOC) gives you flexible access to the equity you’ve built in your home.
Borrow what you need, when you need it. Similar to a credit card, you can use the funds as needed during the “draw period." And as you repay what you’ve borrowed, those funds become available again—giving you ongoing access to cash for future needs.
Use your HELOC for home improvements, debt consolidation, college tuition, or even unexpected expenses. You’ll enjoy competitive rates, flexible repayment options, and the confidence of borrowing from a financial partner you trust.
Benefits include:
- Competitive interest rates
- No closing costs*
- No annual fees
- 24/7 access through Online & Mobile Banking
- Free Home Equity checks
Get started below or contact our Member Service Center at 800-552-6328 to learn more and see how your home’s equity can help you reach your finacial goals.
What is a home equity line of credit (HELOC)?
A home equity line of credit, or HELOC, is a revolving line of credit that allows you to borrow against the equity you've built in your home. You can access funds as needed during the draw period, and as you repay what you've borrowed, those funds become available again.
What can I use an OHecu HELOC for?
You can use an OHecu HELOC for a variety of expenses, including home improvements, debt consolidation, college tuition, major purchases and unexpected expenses. Because a HELOC is secured by your home, it's important to consider your ability to repay the borrowed funds before using one for discretionary expenses.
How much can I borrow with an OHecu HELOC?
The amount you may qualify to borrow depends on factors such as your home's value, existing mortgage balance, credit history and loan-to-value ratio. OHecu's current fixed-rate HELOC has a maximum credit line of $199,000 and a maximum loan-to-value of 80%.
What credit score do I need for an OHecu HELOC?
OHecu considers your credit history when determining eligibility and the APR you may receive. The advertised fixed-rate HELOC APR is available to members with a minimum credit score of 740, although not all applicants will qualify for the advertised rate.
Does OHecu offer fixed-rate and variable-rate HELOCs?
Yes. OHecu offers both fixed-rate and variable-rate home equity lines of credit. The current rate structure depends on factors including your loan-to-value ratio and the type of HELOC you choose. Variable rates are based on the Prime Rate plus a margin and may change over time.
Can I refinance my existing HELOC with OHecu?
Yes. Eligible borrowers can refinance a HELOC currently financed through another bank or credit union with OHecu. Refinancing may help you save on interest or potentially lower your monthly payment, depending on your current loan and the terms for which you qualify.
Does OHecu charge closing costs or annual fees for a HELOC?
OHecu's current HELOC offering has no annual fee, and its advertised closing costs are waived under the applicable offer. If OHecu pays the $575 in loan fees and closing costs on your behalf and you close the HELOC within the first three years, you agree to reimburse those fees. Terms and offers are subject to change.
How do I apply for an OHecu HELOC?
You can apply for an OHecu HELOC online or contact the Member Service Center at 800-552-6328 to learn more and begin the application process. All applications are subject to credit approval and other applicable requirements.
*APR=Annual Percentage Rate. Rates are based on an evaluation of credit history. Not all applicants will qualify. The 6.99% APR is available to members with a minimum credit score of 740. The APR you may qualify for will depend on your creditworthiness. Property must be an owner-occupied primary residence. The loan term is fully amortized for 15 years with a three-year initial draw period. The maximum credit line is $199,000 and the minimum initial draw amount is $10,000. The maximum LTV is 80%. Loan fees and closing costs, which total $575, are waived. If OHecu pays these fees on your behalf and you close the home equity line of credit within the first three years of the loan term, you agree to reimburse these fees to OHecu. The information provided does not constitute a loan commitment. Consult a tax advisor for the deductibility of interest. All rates, offers, and promotions are subject to change without notice. All loans are subject to credit approval. Other conditions may apply. NMLS: #412096
