FinancialEdge Credit Union Home Equity Loans Michigan

Home Equity Line of Credit

For those ongoing projects, a home equity line of credit (HELOC) allows you to draw funds as you need them up to your available credit limit. You’ll receive a low variable rate, and your payment will adjust based on your last advanced balance.

Or for the option to pay only the interest during the draw period with an Interest-Only HELOC. (Interest-only payments will not repay the outstanding principal on your line.)

If you would like a fixed rate and monthly payment, please look at our closed-end home equity loan.

Call our loan department at (989) 892-6088 or visit us to apply.

View home equity loan rates

Learn about Open-End Loans

Borrow only the amount you need.
Flexible payment options based on your last advanced balance.
Use the funds over and over again as you borrow and repay.
Easily access your funds via our EdgeMobile App, ElectronicEdge Online Banking, or over by giving us a call.
Use for home improvements, large purchases, college tuition, a vacation, or debt consolidation – whatever your life needs!
Draw period - up to 10 years.
Lines of credit available up to $200,000.

How does a HELOC work?

Draw Period

During the draw period, you can borrow and repay funds over and over again, up to your maximum credit limit – much like a credit card.

Repayment Period

At the end of the draw period, you will begin the repayment period to repay the amount borrowed plus accrued interest. The loan terms will remain unchanged, except you can no longer access funds.

*Refer to our Home Equity Early Disclosure for more information.

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Home Equity Line of Credit

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