Before you begin the application process, we recommend clicking the buttons below to gather important information regarding our loan process. When you are ready, click "apply for a HELOC" to begin the application process online.
HELOC checklist what to expectA Home Equity Line-of-Credit gives you the flexibility to access the funds you need, when you need them. Once you have established your Home Equity Credit Line, you may use your Home Equity Mastercard® to make purchases, up to your credit limit. Home Equity Line of Credit (HELOC) loans are available from $5k to $200k for first mortgages (10 year term) or second mortgages (5, 10 or 15 year terms) on owner-occupied, single-family, primary residences. The current annual percentage rate on Home Equity Line of Credit Loans is 8.50%. A minimum advance of $5000 is required. If you chose to participate in our current Home Equity Line-of-Credit Plan Promotion, Eglin FCU will pay closing costs for bona-fide third party fees (except for an appraisal or costs associated with a purchase/deed) up to $3,000. Member agrees to reimburse Eglin Federal Credit Union for the bona-fide third party fees paid if the Plan is closed within 36-months of the loan origination date. A minimum advance of $5,000 will be required at closing with this promotion. *APR = Annual Percentage Rate. The APR will vary based on the Wall Street Journal Prime Rate which was 8.50% as of 7/27/2023. Rates and terms are subject to change without notice. The maximum APR will not exceed 18%.
The APR will vary based on the Wall Street Journal Prime Rate which was 8.50% as of 7/27/2023. Rates and terms are subject to change without notice.
| Interest Rate | Minimum Advance | Closing Costs |
| 8.50% APR* | $5,000** | NONE** |
*APR = Annual Percentage Rate. The APR is variable and is based on the Wall Street Journal U.S. Prime Rate. The maximum APR will not exceed 18% and the minimum APR will not be reduced below 3% at any time during the term of the plan.
**If you chose to participate in our current Home Equity Line-of-Credit Plan Promotion, Eglin FCU will pay closing costs for bona-fide third party fees (except for an appraisal or costs associated with a purchase/deed) up to $3,000. Member agrees to reimburse Eglin Federal Credit Union for the bona-fide third party fees paid if the Plan is closed within 36-months of the loan origination date. A minimum advance of $5,000 will be required at closing with this promotion.
Maximum Loan Amounts & Restrictions - Home Equity Line of Credit
The typical timeline to process and close a HELOC is 30-45 days.
A Home Equity Line of Credit (HELOC) is a credit card with your home listed as collateral. You have up to 20 years to pay off any remaining balance at the end of the 10-year draw period.
A Home Equity Line of Credit (HELOC) is a credit card with your home listed as collateral. You have up to 20 years to pay off any remaining balance at the end of the 10-year draw period.
Routing Number: 263178070
*APR = Annual Percentage Rate.
