HOME EQUITY LINE OF CREDIT

USE THE EQUITY IN YOUR OWN HOME

APPLY ONLINE

With low rates, ease of use and growing home values, use your home’s equity for improvements or pay off higher interest debt. Borrow up to 90% of your home’s equity. There’s no application fee or closing costs++ and accessing your line of credit is easy with our HELOC credit card.

A Home Equity Line of Credit (HELOC) is a loan set up as a line of credit for a maximum draw, rather than using a fixed dollar amount like a mortgage. East Idaho Credit Union wants to help you get your next HELOC right here in East Idaho, because you need someone local you can trust.

  • Home repairs

  • Landscaping

  • Debt consolidation

  • Finish the basement

  • Remodel kitchen/bathroom

  • Pay for college

  • Go on vacation

  • Vehicle purchase

APPLY ONLINE
SEE RATES
Term Interest Rate
Up to 25 Years 3.50% – 5.25%

Rates are determined off Wall Street Prime Plus Margin**. +APR=Annual Percentage Rate. HELOC APR ranges between 3.50% to 5.25% effective May 24th, 2021. The Annual Percentage Rate will not exceed 18.00%. Approved rates are based on credit worthiness. The interest rate can change semi-annually on the first day of April and October following a change in the Prime Rate. We will use the most recent index available to us as of the 10th business day of the month prior to a rate change. **Floor rate on Wall Street Prime Max rate of 18.00%. $5,000 minimum, $250,000 maximum line of credit. Early payoff (less than 3 years) requires $300 finance charge. Adequate Property insurance must be maintained. Appraisal fees may be passed on to the borrower. All loans are OAC. EICU is an Equal Opportunity Lender.

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Features Benefits
Eligibility Primary Residence
Single Family (1-4 family)
Must Be Located in Idaho
*Manufactured Homes Ineligible
Terms Up to 25 Years
Draw Period up to 10 Years w/ Interest Only Payments
Repayment Period up to 15 Years w/ Principal &
Interest Payments Re-amoritized
Loan to Value Up to 90% of Home Value
Loan Amounts Minimum of $5,000
Maximum of $250,000
Fees No Application Fee
No Closing Costs*
Advance Limits No Minimum Advance During Draw Duration Period
No Initial Advance Required
Credit Advances Electronically, In Person, Over the Phone, HELOC Credit Card (Coming Soon!)
Uses Home Improvements
Landscaping
Debt Consolidation
Everyday Purchases
Apply Online

1-800-727-9961

Monday-Friday: 8:30am-5:30pm MT
Saturday: 10:00am-2:00pm MT

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