Home Equity Line of Credit (HELOC)

Turn Your Home Equity Into A Financial Advantage.

A Home Equity Line of Credit (HELOC) is a revolving line of credit secured by the equity you've built up in your home. This means you can borrow funds as needed, up to a pre-approved limit, and only pay interest on the amount you use.

Why Choose a PCT FCU HELOC?

  • Competitive Rates: Our variable interest rates are tied to the prime rate, potentially saving you money compared to other options.

  • Flexible Use: Use your HELOC for a variety of needs, such as home improvements, debt consolidation, education expenses, and more.

  • Interest Savings: Pay interest only on the amount you use during the draw period (typically 10 years).

  • Convenient Access: Easily access your funds through checks, online transfers, or branch withdrawals.

  • Potential Tax Benefits: Consult with a tax advisor to see if interest payments may be tax-deductible.

  • Experienced Partner: PCT FCU is a trusted financial institution dedicated to helping you achieve your financial goals.

Benefits of a PCT Federal Credit Union HELOC

  • Flexible Use: Use your HELOC funds for a wide range of purposes, including home improvements, education expenses, debt consolidation, or any other financial need you may have.

  • Pay Interest Only on What You Use: You'll only pay interest on the portion of the credit line you've used for the first ten years, making it a cost-effective option for managing your finances.

  • Competitive Rates: Our variable interest rates based on the prime rate are highly competitive, providing a cost-effective way to access funds when you need them.

  • Potential Tax Benefits: Consult with your tax advisor to see if you're eligible for potential tax benefits on the interest paid.

  • Easy Access: Access your HELOC funds conveniently through checks, online transfers, or in-person withdrawals at our branches.

  • Secure and Trusted Partner: With PCT Federal Credit Union, you're partnering with a financial institution that has a long-standing history of serving the community and ensuring financial security.

Understanding HELOC Eligibility

Generally, to qualify for a HELOC with PCT FCU, you'll need a strong credit score, sufficient home equity, and a steady income. We offer competitive terms tailored to your unique financial situation.

HELOC vs. Home Equity Loan

HELOCs offer more flexibility than home equity loans because you only pay interest on what you use. With a home equity loan, you receive a lump sum and repay the entire amount with interest over a fixed term.

Ready to Get Started?

Contact PCT FCU today to learn more about our HELOC program and see if it's the right fit for you. Our friendly loan specialists can answer your questions and guide you through the application process.

*APR = Annual Percentage Rate: payments do not include amounts for tax and insurance premiums, if applicable, and the actual payment obligation may be greater. *Borrow up to 80% of the equity in your home. Minimum amount is $20,000. Available on 1-4 family owner occupied properties. Property and casualty insurance required. Flood insurance required if property in flood zone. 10 Year Draw Period. 15 Year repayment Period. $500 Early Termination Fee Applies. $50 Annual Servicing Fee Applies. Membership required. Early withdrawal fees apply. Borrower to assume all closing costs.