Home Equity Loans & Line of Credit

Tap into the equity of your home to consolidate high-interest debt, fund a home improvement project, and more. Choose from a Home Equity Loan or a Home Equity Line of Credit. 

Home Equity Loan

Our Home Equity Loan is available for primary and secondary residences and provides members with a one-time lump sum of cash at a low fixed rate. Benefits include:

  • Predictable monthly payments
  • Low interest rates
  • Fixed 20, 15, 10, 7 and 5-year terms
  • 70 percent LTV of up to $50,000 for investment properties1
  • No prepayment penalties
  • No points
  • Loans under $50,000 do not require a full appraisal

Apply Now

Already applied? Check application status.

interior home

Home Equity Line of Credit (HELOC)

Our revolving Home Equity Line of Credit (HELOC)2 is available for primary residences and gives members access to a source of funds over a period of time at a low variable rate. Benefits include:

  • Low variable interest rates
  • 10 year draw term and 15 year repayment period3
  • No prepayment penalties
  • No points
  • Loan amount up to $300,000
  • Loans under $50,000 do not require a full appraisal

Apply Now

Already applied? Check application status.

couple sketching house remodel

Home Equity Loan Rates

Products 5 Year APR* 7 Year APR* 10 Year APR* 15 Year APR* 20 Year APR*

Home Equity Single Advance

(Owner Occupied)**

3.69% - 4.94% 3.94% - 5.19% 4.69% - 5.94%

4.94% - 6.19%

4.94% - 6.19%

Home Equity Single Advance

(Investment Property)****

6.75% - 8.75% 7.00% - 9.00% 7.75% - 9.75% 8.00% - 10.00% N/A

Home Equity

(Owner Occupied)***

6.59% - 6.59% 6.59% - 6.59% 6.59% - 6.59% N/A N/A
Products APR*

Home Equity Line-of-Credit

(HELOC)*****

3.99% - 4.25%

 

Rates effective July 1, 2020

*Annual Percentage Rate (APR) based on evaluation of applicant's credit. Your actual APR will be within the stated range and will be disclosed at the time of disbursement. Unless otherwise stated rates subject to change monthly. The minimum monthly payment will equal 1.0% of the principal balance outstanding or $100.00 whichever is greater.

**Owner Occupied up to 90% LTV with a maximum term of 20 years. $5,000 minimum loan amount, $500,000 maximum loan amount.

***Owner Occupied up to 90% LTV with a maximum term of 10 years. $5,000 minimum loan amount, $100,000 maximum loan amount.

****Investment Properties up to 70% LTV with a maximum term of 15 years, $5,000 minimum loan amount, $50,000 maximum loan amount.

*****Owner Occupied up to 90% LTV with a minimum loan amount of $5,000 and a maximum loan amount of $300,000.

Disclosures

1 The interest on the portion of the credit extension that is greater than the fair market value of the dwelling is not tax deductible for Federal income tax purposes; the consumer should consult a tax adviser for further information regarding the deductibility of interest and charges. Call 800-296-8882 or 703-706-5000 to speak with an SDFCU member service representative. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

Home Equity Lines of Credit (HELOC) are variable rate loans and the interest rate is subject to increase. Closing costs range between $500 and $3,500 for credit lines of $300,000. Property insurance is required. Contact a representative for additional details. 

Minimum Payment Requirements: You can obtain advances of credit for 10 year (s) (the "draw period"). During the draw period, payments will be due monthly. Your minimum monthly payment will 1.0% of the principal balance outstanding or $100.00 whichever is greater. After the draw period ends, you will no longer be able to obtain credit advances and must pay the outstanding balance on your your account (the "repayment period.") The length of the repayment period is 15 year(s). During the repayment period, payments will be due monthly. Your minimum monthly payment will equal amortized payment of the loan balance or $100.00 whichever is greater. This balance is amortized over 180 months.  The minimum payment will change whenever the annual percentage rate changes. Your loan payments will recalculate each month in order for your loan to be paid in full during the repayment period.