- Competitive Rates
- Local Processing
- Ongoing/Seasonal Needs
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- Fixed rate terms up to 15 years 1,3
- Low variable indexed to Prime
- The existing equity in your home is used as collateral
- Up to 85% loan to value
- Loan amounts from $5,000
- No application fees and no closing costs3
- Debt protection available
- Revolving credit
- As principal is repaid, more becomes available for use
- Only pay interest on what you spend
- Draw period of 10-years
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Choose stability of a fixed rate & monthly payment. Balances start at variable rate with fluctuating payments.
Great for large home improvement projects, Great for home improvements, consolidating debt, debt consolidation & paying major expenses. or unexpected expenses.
1 All rates are annual percentage rate (A.P.R.) Actual rates are based on credit worthiness of applicants. All loans are subject to approval.
2 EquiLOC (Home Equity Line of Credit) has a minimum $5,000 line amount to open. The advertised regular line of credit rate is based on Prime Rates published in the Wall Street Journal on the last business day of the previous month plus or minus a margin with a floor of 3.00%. Maximum rate of 18%. Your APR may vary.
3 Fixed Term Option: You may lock in all or a portion of your line as a fixed term loan with up to two fixed terms at one time. Minimum $5,000 in new loan advances required to qualify for promotion fixed rate. Promotional fixed rate applies on locked-in portion of your balances. Balances you choose to lock in at the fixed rate of interest must be repaid in substantially equal monthly payments of principal and interest. The total monthly payment under the Line of Credit will include repayment of the total of all advances under the Line of Credit to date, in addition to and including the advance(s) for fixed term lock option(s). Fees: Hershey Federal Credit Union will pay all closing costs in conjunction with the Line of Credit agreement. If your Line of Credit is paid in full and closed within 36 months, you may be required to reimburse all third-party fees paid on your behalf upon closing your account. Property insurance is required. Borrower will be required to pay the appraisal cost if a full appraisal is required. Other restrictions or conditions may apply. This offer may be withdrawn at any time.