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HOME EQUITY
LINE OF CREDIT

Introductory Rate As Low As
5.90%
Lock In A Lowered Interest Rate for 12 Months!
Take advantage of this limited-time offer valid from November 1 to December 31, 2024.
Transform your home
Up to
$750,000
Up to 80% CLTV
1
For Holiday Preparations
Family Happy In Modern Kitchen
Transform your home into the perfect gathering space for family and friends this season.
For Gift Giving
Couple Getting Engaged During Holidays
Ensure you have the funds available to create memorable moments with loved ones during the holidays.
For Financial Wellness
Empowered Millenial Looking at Phone During Holidays
Pay off high-interest debts and start the new year with a fresh financial outlook.
Enjoy a 10-year draw period and 10-year repayment period1
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Frequently Asked Questions
What is Prime Rate and Margin when it pertains to my Member Rate? A HELOC (Home Equity Line of Credit) prime rate is the interest rate that serves as a benchmark for setting HELOC interest rates. The prime rate is often tied to the federal funds rate set by the Federal Reserve, meaning it can fluctuate based on economic conditions and Federal Reserve policy changes.

For a HELOC, the interest rate is typically expressed as the prime rate plus a margin. For example, if the prime rate is 8.75% and the margin is 0.25%, the HELOC rate would be 9.00%. This margin can vary based on the borrower's creditworthiness and the lending institution's policies.
Who is eligible for a HELOC? Homeowners with equity in their homes. Take your home's value, and then subtract all amounts that are owed on that property. The difference is the amount of equity you have. For example, if you have a property worth $400,000, and the total mortgage balances owed on the property are $200,000, then you have a total of $200,000 in equity.2
Are there fees I can expect with this process? Estimated costs related to the process: Drive-by Appraisal ($400.00), Title Fees ($350.00-$450.00), Origination Fee ($60.00). Late payment charge will be 5.00% of payment amount. Enjoy NO FEES to apply for this product, annual service, or for pre-payment!
Disclosures
1
Annual Percentage Rate. Rate shown is effective 11/01/2024 and may change without notice. Rate shown is the lowest possible and is based on FICO/Credit Score and other factors. The rate of 5.90% APR is an introductory rate valid for the first 12 months from when the Home Equity Line of Credit (HELOC) funds: after which the rate will default to the non-promotional rate which the member qualifies for based on the Prime Rate and margin disclosed at the time of funding, which is determined by creditworthiness, FICO/Credit Score and other factors. This is subject to standard Downey Federal Credit Union (DFCU) credit approval. There will be a $550 penalty if the HELOC is closed within three years of funding. To qualify for the introductory rate member must advance a minimum of $10,000 at the time of funding the HELOC. If there is no initial advance at the time of funding, the loan will not be eligible for the discounted rate. This offer is valid from 11/01/2024 to 12/31/2024 must be funded by 12/31/2024. No HELOC or other loans currently financed at DFCU are eligible. DFCU does business in accordance with the Federal Fair Housing Law and Equal Credit Opportunity Act and deposits are Federally Insured by NCUA. Membership must be in good standing in order to be approved for either of these loan promotions, non-members would have to establish membership before loan funding. Additional restrictions apply. Please contact a DFCU Loan Representative for complete promotional details and qualifying criteria. Other rates and terms are available.
2
Please consult with a financial advisor regarding your specific situation. The statements provided are general guidelines.
HELOC Early Disclosure