Home Equity Line of Credit

A home equity loan is a revolving line of credit secured by the equity you have in your home. You can borrow on this line of credit as you need to. Use it for major purchases including a new car, home remodeling, college expenses, a much-needed vacation or bill consolidation.

If you are a homeowner, the most economical way for you to borrow may be with a home equity loan or line of credit. Not only are the rates lower than that of most other loans, but your interest may be tax deductible as well (check with your tax advisor for details).

Arizona State Credit Union Home Equity Lines of Credit have:

  • Up to 90% combined loan to value, with a minimum $25,000 line of credit
  • No minimum advance is required
  • No Annual Fee
  • Closing fee is approximately $200, other charges may apply

Use your Home Equity Line of Credit to pay for:

  • Home improvements
  • Tuition
  • Wedding
  • Vacation
  • Car purchase
  • Orthodontia
  • Any reason!

Real estate loans tend to have lower interest rates than other types of loans. With this in mind, plus the potential tax savings, using a home equity loan or line of credit may offer the greatest value.

Home Equity Line of Credit
Combined Loan
to Value
Loan Amount Margin APR - Variable Rate*
Heloc with Checks 90% LTV$25,000 - 200,0000.5% - 5.00%3.50% - 7.00%
Heloc with Checks 80% LTV$10,000 - 200,0000.5% - 5.00%3.50% - 7.00%

Rates Effective: retrieving Index Date

If you would prefer to apply by phone, please call (602) 467-4230 or
1-800-453-9897. Or you can visit your local Arizona State Credit Union branch to apply in person.

Use this helpful checklist to help you with the documents you'll need to close your loan.

The Annual Percentage Rates (APR) shown above are the range of rates that may apply based upon credit worthiness. The 3.50% APR is a promotional, introductory rate for a period of 6 months. The introductory APR may range from 3.50% to 7.00% based on applicant's credit. The Fully Indexed APR may range from 5.06% to 9.60% based on applicant's credit. The estimated Credit Union and third party fees range from $99 - $1,500 for a home equity line of credit. Annual Fee - None. Index - Prime Rate as published in the Money Rates column as of the 15th of each month in the Wall Street Journal. Variable Rate Provision - To determine the Annual Percentage Rate we add a Margin to the value of the Index. Annual Percentage Rate: Lifetime floor - 5.00%, Lifetime Cap - 18.00%. Draw Period - 10 Years, Repayment Period - up to 15 years. Minimum Payment Requirements - You will be required to make payments during the draw period (10 Years) and the repayment period (up to 15 years).