Skip to main content
Apply for a loan Open an Account

HELOC Special Landing Page

Family spending time by the outdoor pool
Take advantage of our low introductory rate of 5.99% APR1

Our low 5.99% APR1 introductory rate let's you save money and get right to work

  • After the first 12 months, the rate is Prime Rate minus 0.50% APR1
  • Get started with minimum amount of $10,000 at closing

  • Options available: Principal plus interest payments or Interest only payments

 

Home Equity Line of Credit

Highlights

  • No Annual Fees
  • No Pre-Payment Penalties
  • 10 year draw period and 10 year repayment period

  • Borrow up to 80% of the equity in your home
  • Line amounts from $10,000.00 - $750,000.00
  • Variable interest rate at Prime minus .50% with a floor rate of 3.50%

Take advantage of our low introductory rate of 5.99% APR1 for the first 12 months then Prime Rate minus 0.50% APR after the intro period. 

more heloc information rates calculate your payments Apply for a heloc

    A SCU HELOC is a good option when renovations, bills or your future is calling

    A SCU HELOC is a good option when renovations, bills or your future is calling

    Home Improvement

    Tackle repairs and update your house while increasing its value.

    • Update your kitchen or bathroom
    • A backyard stay at home oasis
    • Add some room with an addition

    Major Expenses

    Take control and manage large expenses

    • Consolidate high interest bills
    • A surprise wedding
    • Dealing with medical expenses

    Opportunities

    Looking to the future. HELOCs can help you get there

    • Investment property
    • Second home
    • Starting new business

    HELOC options

    low introductory rate of 5.99% APR1

    Our low intro rate let's you save money and get right to work

    • After the first 12 months, the rate is Prime Rate minus 0.50% APR
    • Get started with minimum amount of $10,000 at closing
    • Interest only option available

    Premium HELOC

    Not ready to use the money just yet. Our Premium HELOC offers

    • interest only payments up to 10 years
    • variable interest rate at Prime minus .50%

    Standard HELOC

    Our Standard HELOC starts payment on your principal day one.

    • interest and principal payments for up to 10 years
    • Variable interest rate at Prime minus .50%

    rates  calculate your payments  Apply for a heloc

      Table data for Introductory Rate Home Equity Line of Credit (HELOC)
       December 19, 2024
      Details Rate1 Term Alert Me
      Introductory Rate 5.99% APR Max Term - Revolving
      is for the first twelve months
      Standard HELOC (Principal and Interest Payments) Prime - .50% for the life of the loan. Minimum APR is 3.50% Max Term - Revolving
      Premium HELOC (Interest Only Payment) Prime - .50% for the life of the loan, Minimum APR is 3.50% Max Term - Revolving
      • 1HELOC Introductory Rate Disclosure

        APR=Annual Percentage Rate. Introductory 5.99% APR is fixed for the first twelve months. After the first 12 months, the rate on the outstanding balance will revert to a Variable APR at .50% below the prime rate as published in The Wall Street Journal on the last business day of each month. Variable APR equal to The Wall Street Journal Prime Rate (currently 7.50% as of December 19, 2024) minus .50% for the life of the loan thereafter, with a minimum APR of 3.50% and a maximum APR of 18.00%. The current Variable rate is 7.00% APR. This rate is set on the last business day of each month and subject to change. The amount of payments may change in the event that the Prime rate changes. Borrowers who maintain their first mortgage with SCU Credit Union may be eligible for a floor rate of 3.00% APR. Owner occupied properties only in MA or RI. Maximum LTV requirements apply. Up to 80% of the assessed value or up to 80% of the appraised value less the remaining balance on your first mortgage on 1–4 family owner occupied residences. Minimum credit line is $10,000.00. Maximum credit line is $750,000.00. There is a Minimum initial Draw requirement of $10,000 disbursed at closing. Interest begins accruing upon loan disbursal. 10-year draw period followed by a 10-year repayment period. Homeowner’s property insurance is required. Flood insurance may be required. Closing costs do not include any taxes (if necessary). No points or closing costs are associated with this loan. Applicable Trust and Power of Attorney review and recording fees apply. If the line of credit is paid off within 36 months, the borrower will be responsible for waived closing fees. These costs generally range from $300–$600. Consult your tax professional regarding deductibility of interest. A $5 primary share account is required for membership for each borrower. Membership eligibility required. Subject to creditworthiness. All loans are subject to credit approval. Other restrictions may apply.

        For more information please contact our Mortgage Consultants or call the contact center at 781-784-7725 or toll free at 877-661-3300

        Disclosure - Important Terms of Our Home Equity Lines of Credit Introductory Special

        Additional Information - What You Should Know About Home Equity Lines of Credit

        ↵

      Your HELOC Toolkit

      A trove of tools and tips to transform your finances

      We're here to help

      Disclosures

      Rates and Tools

      Related Content