Fixed-Rate Home Equity and HELOC Loans
Use your home’s equity to fund life's major purchases or home improvements
Our Credit Union’s Home Equity Loans
What will you do with your home’s equity? A DCU Fixed-Rate Equity Loan or Home Equity Line of Credit (HELOC) gives you the ability to borrow against your home’s equity to pay for major purchases, home improvements, and more.
Fixed-Rate Home Equity Loans
- No prepayment penalties
- Consistent payments – You’ll have the same principal and interest payment for the life of the loan. Fixed-Rate Home Equity loans are available in all 50 states.
- DCU service for the life of the loan – We’ll service your loan as long as you have it. No need to worry about making payments to a different lender.
- Online access – Manage your account through Digital Banking from anywhere.
FIXED-RATE HOME EQUITY LOANS
APR AS LOW AS
7.882%apr
TERM FOR RATE SHOWN
MAX. CLTV FOR RATE SHOWN
LIEN POSITION FOR RATE SHOWN
Membership Required
1. Eligibility by Family Relationship to a Current DCU Member
Relatives of DCU members are eligible to join if they are spouses, domestic partners, children grandchildren, parents, grandparents or siblings (including adoptive in-law, and step relationships).
2. Eligibility by Company You Work for or Retired From
You currently work for or retired from a company in our list of participitating employers.
You have a family relationship (as described above) to a non-member who currently works for or retired from a company or organization in our field of membership.
3. Eligibility by Organization You Belong To
You currently belong to or join an organization whose members we serve.
You have a family relationship (as described above) to a non-member who belongs to an organization in our list of participating organizations.
4. Eligibility by Community
You are automatically eligible to join DCU if you live, work, worship, or attend school in one of the communities in our list. Any business or other legal entity located in one of these areas is also automatically eligible to join.
Fixed-Rate Home Equity Loan Rates – Second Lien Position
The advertised rates are the lowest available rates based on the loan assumptions noted below. They are for primary residences with a combined loan-to-value (CLTV) of up to 60% of the home’s market value and for loans in 2nd lien position only.
| Terms | Rate | APR¹ | EMP² per $1,000 |
|---|---|---|---|
| Up to 5 Years | 7.240% | 7.882% | $19.91 |
| Up to 10 Years | 7.490% | 7.837% | $11.86 |
| Up to 15 Years | 7.740% | 7.991% | $9.41 |
| Up to 20 Years | 7.990% | 8.195% | $8.36 |
¹APR = Annual Percentage Rates and interest rates are based on our current pricing and are subject to change any time without notice. Rates are determined by creditworthiness, combined loan-to value (CLTV), loan term, occupancy status, property type, property location and lien position so your rate could be higher. Advertised rates are based on a set of loan assumptions (a credit score of 760 or higher, CLTV of 60% or less of the home’s market value, a loan term as displayed above, an owner-occupied, single-family residence in second lien position located in Massachusetts). Property and flood insurance (where applicable) may be required for the life of the loan. Additional loan programs are available. All loans are subject to approval, other conditions may apply.
²EMP = Estimated Monthly Payment is for principal and interest per $1,000 borrowed. Payment examples do not include taxes or insurance premiums, payment obligation will be higher.
Fixed-Rate Home Equity Loan Rates – Second Lien Position
The advertised rates are the lowest available rates based on the loan assumptions noted below. They are for primary residences with a combined loan-to-value (CLTV) of up to 90% of the home’s market value and for loans in 2nd lien position only.
| Terms | Rate | APR¹ | EMP² per $1,000 |
|---|---|---|---|
| Up to 5 Years | 7.990% | 8.637% | $20.27 |
| Up to 10 Years | 8.240% | 8.592% | $12.26 |
| Up to 15 Years | 8.490% | 8.747% | $9.84 |
| Up to 20 Years | 8.740% | 8.952% | $8.83 |
¹APR = Annual Percentage Rates and interest rates are based on our current pricing and are subject to change any time without notice. Rates are determined by creditworthiness, combined loan-to value (CLTV), loan term, occupancy status, property type, property location and lien position so your rate could be higher. Advertised rates are based on a set of loan assumptions (a credit score of 760 or higher, CLTV of 90% or less of the home’s market value, a loan term as displayed above, an owner-occupied, single-family residence in second lien position located in Massachusetts). Property and flood insurance (where applicable) may be required for the life of the loan. Additional loan programs are available. All loans are subject to approval, other conditions may apply.
²EMP = Estimated Monthly Payment is for principal and interest per $1,000 borrowed. Payment examples do not include taxes or insurance premiums, payment obligation will be higher.
Home Equity Line of Credit
- No prepayment penalties
- DCU service for the life of the loan – We’ll service your loan as long as you have it. No need to worry about making payments to a different lender.
- Online access – Manage your account through Digital Banking from anywhere.
- Minimum required advance - $500 minimum initial draw amount.
- Fixed-rate option available – Offering the option to lock in at a fixed rate on up to two advanced portions of your loan at a time, minimum advance to lock is $5,000.00.
- Overdraft protection - Also, can be used as overdraft protection on your DCU Checking Account.
- DCU’s HELOC is not available in CT, NC, TX, WI & WV.
HOME EQUITY LINE OF CREDIT LOANS
RATE As low as
The power of your home's equity and the flexibility of a line of credit.
GET STARTEDAPR AS LOW AS
7.500%interest rate
MINIMUM ADVANCE REQUIREMENT
$500.00
MAX. CLTV FOR RATE SHOWN
LIEN POSITION FOR RATE SHOWN
Membership Required
1. Eligibility by Family Relationship to a Current DCU Member
Relatives of DCU members are eligible to join if they are spouses, domestic partners, children grandchildren, parents, grandparents or siblings (including adoptive in-law, and step relationships).
2. Eligibility by Company You Work for or Retired From
You currently work for or retired from a company in our list of participitating employers.
You have a family relationship (as described above) to a non-member who currently works for or retired from a company or organization in our field of membership.
3. Eligibility by Organization You Belong To
You currently belong to or join an organization whose members we serve.
You have a family relationship (as described above) to a non-member who belongs to an organization in our list of participating organizations.
4. Eligibility by Community
You are automatically eligible to join DCU if you live, work, worship, or attend school in one of the communities in our list. Any business or other legal entity located in one of these areas is also automatically eligible to join.
Home Equity Line of Credit (HELOC) Rate
| Rate Index and Margin | APR¹ |
|---|---|
| As Low As Prime -0.00% | 7.500% |
¹APR = Annual Percentage Rate is variable, tied to the Wall Street Journal Prime Rate, the index, (currently 7.50% as of December 19, 2024) plus or minus a margin, and can change monthly. There is a minimum rate of 3.00% APR and a maximum rate of 18% APR. HELOCs have a 40-year term (20-year draw period with interest only payments followed by 20-year repayment period with principal and interest payments). Advertised rate uses a margin of 0.00% and is based on a set of loan assumptions (a credit score of 760 or higher, CLTV of 60% or less, single-family owner-occupied residence, is second lien position). To open a line of credit you must pay the following fee to us prior to closing; a $300 Application Fee, you may also have to pay certain fees to third parties at closing, unless otherwise noted, these fees generally total between $0 and $3,500.00. If you ask, we will give you an itemization of the fees you may have to pay to third parties. Property and flood insurance (where applicable) may be required for the life of the loan. All loans are subject to approval, other conditions may apply.
Please refer to DCU's Early Federal Disclosure for more information on Home Equity rates, including historical rate examples. You may obtain this information by contacting DCU.
Plan for Your Mortgage Loan
Thinking a fixed-rate home equity loan or HELOC from DCU is for you? Utilize our easy-to-use calculator to plan for your home.
- How much can I borrow against my home’s equity?
How much can I borrow against my home’s equity?
This calculator is the property of CalcXML and is licensed for use on dcu.org. It is provided as a self-help tool for your independent use. The results shown are based on information and assumptions provided by you regarding your goals and financial situation. Applicability or accuracy regarding your circumstances is not guaranteed. All sample ranges and default figures provided within calculator fields do not reflect actual loan terms available or apply to your situation. These are hypothetical for illustrative purposes and are not intended to purport actual user-defined parameters. Calculation results do not indicate whether you qualify or assume you could qualify for the loan, product, or service. The calculations provided should not be construed as financial, legal, or tax advice. Consult a financial professional prior to relying on the results presented.
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