Home Equity Line of Credit Features

A Home Equity Line of Credit (or HELOC) from Copper State Credit Union offers peace of mind as you experience all life has to offer. Whether you are planning home improvements or need to consolidate debt, know you can rely on us. 

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Competitive rates.
Our Home Equity Line of Credit is a competitively priced adjustable rate loan.1
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Convenient access.
Easily access and withdraw funds from your line of credit inside Online Banking.2
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Potential tax advantages.
HELOCs offer potential savings from tax deductions on interest payments.3
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Maximum funding.
Borrow up to 80% of your home's appraised value. Maximum limit is $350,000.4
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Save with debt consolidation.
Consolidate multiple loan payments into one!
Mother and son in updated home improvement laundry room.
What's the difference?

HELOC versus Home Equity Loan

Similar to Home Equity Loans, Home Equity Lines of Credit allow you to access the equity in your home for debt consolidation or to pay for vacations, home improvements, college, medical bills and more. What's the difference?

Copper State Credit Union's HELOC allows you to borrow up to 80% of the appraised value of your home versus 100% with a Home Equity Loan.5 With a HELOC, funds are not provided in one lump sum, they are a revolving source of money which means you withdraw and pay back the money over time. You also only pay interest and make payments on the balance you owe, versus one set monthly payment. Still have questions? That's what we are here for! Let's figure out which solution is best for you.

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HELOC Rates

Our low HELOC rates offer an affordable budget-friendly payment, excellent for home improvements!
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*APR=Annual Percentage Rate. APR: minimum is 4.00% and maximum is 18.00%. Minimum amount: $15,000 and maximum amount: $350,000. The index will be adjusted monthly as of the first day of each billing cycle following an index change. Prime Rate is 3.50%.

**Floor Rate is 4.00%.

Rates, terms and conditions are subject to change and may vary based on creditworthiness, qualifications and collateral condition. All loans subject to approval. No prepayment penalty. Property insurance is required and will be verified.

HELOC Rates
Credit Score
APR*
To 80% Loan to Value**
Credit Score
760+
APR*
4.00%
To 80% Loan to Value**
Prime + 0.50%
Credit Score
720-759
APR*
4.75%
To 80% Loan to Value**
Prime + 1.50%
Credit Score
680-719
APR*
5.25%
To 80% Loan to Value**
Prime + 2.00%
Credit Score
650-679
APR*
6.75%
To 80% Loan to Value**
Prime + 3.50%
Credit Score
620-649
APR*
8.75%
To 80% Loan to Value**
Prime + 5.50%
Effective May 23, 2022

*APR=Annual Percentage Rate. APR: minimum is 4.00% and maximum is 18.00%. Minimum amount: $15,000 and maximum amount: $350,000. The index will be adjusted monthly as of the first day of each billing cycle following an index change. Prime Rate is 3.50%.

**Floor Rate is 4.00%.

Rates, terms and conditions are subject to change and may vary based on creditworthiness, qualifications and collateral condition. All loans subject to approval. No prepayment penalty. Property insurance is required and will be verified.

A HELOC makes it possible.

  • Debt consolidation.

    You can transform your multiple loan payments into one simple payment and pay down existing debt while simultaneously improving your credit.

  • Home improvement.

    Repair your roof, add on the extension, remodel your kitchen or invest in solar panels. A HELOC makes updating or repairing your home affordable.

  • Further your education.

    Do you have a couple courses left or do you have a child (or children) heading off to college? No need to worry, the money can cover that too.

  • Vacation time.

    The funds you receive from your Home Equity Line of Credit can help you plan the escape you have been waiting for and deserve.

Woman researching home improvements on her laptop.
Our application process is meant to impress.
Our 24/7 online application gathers your information quickly and then our team of local loan experts reviews the information and responds fast. We value your time and strive to make the process hassle-free. Want some more good news? You only need to apply once to access the money for ten full years. Ready to get started?
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Funding For It All

From Home Improvements to Debt Consolidation

A Home Equity Line of Credit offers you the flexibility to pay for the things you want, and fund the things you need. Looking for more flexibility? How about having ten years to use and repay the funds. Talk about a great safety net!

Ready to get started? Our simple online application allows you to apply from anywhere! Need it approved fast? Don't worry, because we are local, your loan will be processed right away by our team of experts ensuring a fast hassle-free process.

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Member Since 2019
Denis S.

I have never had a more pleasurable and professional experience at any financial institution.

Copper State Credit Union earned my trust in one phone call.

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Have a Question?

Frequently Asked Questions

What is the difference between a Home Equity Loan and a HELOC?

With a Home Equity Loan, funds are provided in one lump sum with one consistent monthly payment. With a HELOC, they are a revolving source of money which means you withdraw and pay back the money over time. You also only pay interest and make payments on the balance you owe.

Is the interest tax deductible?

Interest on Home Equity Loans and HELOCs may be tax deductible. Please consult your tax advisor regarding tax deductibility.

Are Home Equity Loan and HELOC interest rates fixed or variable?

Home Equity Loans have a fixed rate while HELOCs have a variable rate that changes according to the United States Federal prime rate.

How much can I borrow?

A Home Equity Loan has a minimum amount is $15,000 and a maximum loan amount of $350,000. A Home Equity Line of Credit has a limit up to 80% of your home's appraised value with a $350,000 maximum credit limit.

FREE GUIDE

Ultimate Budget Plan
Ultimate Budget Plan to Save You Time and Free Your Money
Make Your Money Work For You!

Start budgeting for your next home improvement project or dream vacation!

Included in the free guide:
  1. What is a Zero Balance Budget Plan
  2. Find Your Financial Goals
  3. Before Starting Your Budget Plan
  4. Add Up Net Income
  5. Tally Spending [Expenses] and Categorize
  6. Quick Budget Plan Calculation 
  7. How to Make Monthly Budget Plan Adjustments 
  8. Mistakes to Avoid

Get your free copy now!
Disclosure

1All loans subject to approval. Rates, terms and conditions are subject to change and may vary based on creditworthiness, qualifications and collateral conditions. Membership is required.

2You will receive access to online banking to process draws against your Home Equity Line of Credit. If Copper State Credit Union is paying off a subordinate lien in order to establish the Line, Copper State Credit Union will make the first draw on your account.

3Consult a tax advisor.

4The maximum credit limit is $350,000.

5The maximum Home Equity Loan amount is $350,000 and the minimum loan amount is $15,000.

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