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Home Equity Lines of Credit
Tap Into Your Home’s Equity
Access your home’s equity with a HELOC. Flexible borrowing with rates as low as 5.75% APR and $0 closing costs.*
HELOC Benefits
HELOC Benefits
Borrrow up to 90% of Your Home Equity
Tap into up to 90% of your home’s value with a HELOC.
Lower Interest Rate
Enjoy rates much lower than most credit cards or personal loans.
Easy Access in Digital Banking
Manage your HELOC and withdraw funds anytime through Digital Banking.
Increase your Credit Score
Using your HELOC responsibly can help improve your credit score.
Flexibility & Control
Borrow what you need, when you need it – during your 10-year draw period.
Tax Benefits
Interest may be tax-deductible when used for home improvements – consult with your tax advisor to see if you could benefit.
Rates Effective as of
February 7th, 2026
Home Equity Line of Credit
|
APR*
as low as |
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|---|---|---|
| Home Equity Line of Credit | 5.75% |
*APR = Annual Percentage Rate. Home Equity Lines of Credit are available on primary residences located in the State of Michigan only. Rates are subject to change without notice and are variable. The minimum rate that may be imposed is 5.50% APR. The maximum rate that may be imposed is 14.00% APR. You must pay certain fees to third parties to originate the Home Equity Loan. These fees generally total between $0.00 and $1,000. If you ask, we will provide you with an itemization of the fees you will have to pay third parties. Property insurance is required, and flood insurance may be required. Non-members will be charged a $10 new membership fee upon account opening.
Calculate how much you can borrow
The amount you can borrow with a HELOC is based on the equity you have in your home. Home equity is the difference between your home’s current market value and the current balance of your mortgage.
Calculate your estimated borrowing capacity using a home equity line of credit
Ways to Use a HELOC
Ways to use a Home Equity Line of Credit
Update Your Home
Home updates, improvements, additions and repairs are among the most popular reasons for opening a HELOC.
Consolidate Debt
Bills can add up! Use a HELOC to consolidate debt and save money over time.
Education Expenses
The cost of college can be expensive. A HELOC is a low rate way to help with tuition costs.
Emergency Funds
Borrow only what you need, when you need it for a lower interest rate than most loans.
Event Expenses
Have a big event, like a wedding or a vacation coming up soon? Use your HELOC fund to help with the expense.
Medical Expenses
While insurance might cover the costs of most services and treatments, your HELOC can cover the rest!
HELOC FAQs
What is the difference between a Home Equity Loan and a Home Equity Line of Credit?
-A Home Equity Loan provides the borrower with a lump sum amount that comes with fixed payments and fixed interest during the term of the loan. A Home Equity Line of Credit (HELOC) is a revolving line of credit that features variable interest rates and, therefore, variable minimum payments. With a HELOC, you pay interest only on the funds you use.
What is the purpose of this type of loan?
- This type of loan can be used to fund home improvements, renovations, updated appliances, fund higher education, refinance high-interest rates or consolidate all debts into one easy monthly payment. As interest is only charged on the amount used, if the expense is lower than expected, you will not be charged interest on the remaining funds.
Is Private Mortgage Insurance (PMI) Required?
- Christian Financial Credit Union does not require additional PMI, but borrowers must maintain their current homeowners' insurance. A Home Equity Line of Credit loan is considered a second mortgage, therefore no additional PMI or escrow account is required.
How can I access my funds?
- Members can use their Home Equity Line of Credit via Online Banking or our ChristianFCU Banking app. Or you can visit a branch to take out funds.
Is there a penalty for making pre-payments or paying off my Home Equity Line of Credit early?
- Members are able to pay off early and close or pay down their HELOC to zero and still have the funds available with no penalty.
Is the interest I pay on my Home Equity Line of Credit tax deductible?
- The interest you pay may be tax-deductible, depending on how you use the funds and other factors. A tax advisor can provide details and information regarding your specific situation and advance.
What other restrictions apply to this type of loan?
-Our Home Equity Line of Credit product is only available on primary residences.
Home Equity Line of Credit Reviews
Don't take our word for it!
My visit to CFCU was painless. My loan officer was very knowledgeable, polite and prepared my loan application in an expedient manner. I was very impressed with her calm demeanor and sense of humor while helping with my loan.
*APR = Annual Percentage Rate. Rates shown are the best available, subject to change without notice, based on credit history and pending credit approval. Loans financed over 80% Loan to Value may be subject to a higher rate of interest. Minimum amount financed on a Home Equity Line of Credit is $7,500. Must have ability to repay. Applicant pays appraisal fee, which is fully reimbursed at closing if loan approved and the loan closes within 45 days of application. Offer may be discontinued or changed at any time. Home Equity Lines of Credit are available on primary residences only, in the State of Michigan. The minimum rate that may be imposed is 5.50% APR. The maximum rate that may be imposed is 14.00% APR. You must pay certain fees to third parties to originate the Home Equity Loan. These fees generally total between $0.00 and $1,000. If you ask, we will provide you with an itemization of the fees you will have to pay third parties. Property insurance is required, and flood insurance may be required. Non-members will be charged a $10 new membership fee upon account opening. Offer valid until March 31, 2025. Contact Christian Financial for full details. Christian Financial Credit Union is federally insured by the NCUA. Equal Housing Opportunity Lender.