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HELOC

Home Equity Line of Credit

Put your home’s equity to work with Leaders.

Easily Access Your Home's Equity

It’s time to put your home equity to work for you. With a Leaders Credit Union HELOC, you can us your equity for home improvements or anything you choose.

Apply for a HELOC View HELOC Highlights

HELOCs Turn Equity into Cash

Get the money you need using your home as collateral. Are you:
A homeowner with equity in your house?
In need of ready cash to pay for expenses?
Looking for a HELOC with an easy online application process?
In search of a low introductory rate?
Seeking a HELOC that you can connect to your checking account for easy payments?
Wanting simple tools to help you manage your money?
Apply for a HELOC
HELOC
Low introductory rates

Rates as low as 6.25% APR¹

free Leaders debit Mastercard®

Link to your Leaders checking account and spend funds with a free Leaders debit Mastercard®

7 years

Draw on your line of credit for 7 years

Highlights

HELOC

Get the money you need with an affordable HELOC.

Apply for a HELOC
No prepayment penalty

No prepayment or early termination penalty

Intuitive portal

Intuitive portal to track your HELOC and make payments

Low introductory rates

Rates as low as 6.25% APR¹

free Leaders debit Mastercard®

Link to your Leaders checking account and spend funds with a free Leaders debit Mastercard®

7 years

Draw on your line of credit for 7 years

No prepayment penalty

No prepayment or early termination penalty

Intuitive portal

Intuitive portal to track your HELOC and make payments

Get Approved Today

Easy online application process
Get Started

Testimonials

What Our Members Are Saying About Leaders

Frequently Asked Questions About HELOCs

A home equity line of credit (HELOC) is a revolving source of money that allows homeowners to borrow against their home equity and withdraw funds as needed. It differs from a home equity loan in that you have the flexibility to withdraw funds only when you need them and you pay only for what you withdraw.

 

With Leaders’ HELOCs, homeowners can withdraw funds over 7 years and have a 15 year repayment period.

With Leaders Credit Union, you can borrow up to $200,000 with a HELOC. Our Express HELOC offers lines of credit up to $10,000 while our Home Equity Smartline™ HELOC offers lines of credit between $10,001 and $200,000.

With Leaders Express HELOC, there are no closing costs. For the Home Equity Smartline™ HELOC, the closing costs will be based on your HELOC amount and other factors and may be as low as $199.

Leaders Credit Union HELOCs have a 7-year withdrawal period and a 15-year repayment period. That means you may withdraw funds up to your HELOC limit for the first seven years after your closing. At the end of seven years a member has an additional 15 years to repay what has been borrowed.

HELOC interest rates are based on an index such as the Prime rate plus a margin. Leaders’ margins can range from 0.25% APR to 6% APR and will remain the same for the term of the loan. The total APR is variable and may fluctuate over the term of the HELOC.

With Leaders Credit Union, withdrawals are easy. You can make automatic withdrawals and put them in your Leaders checking account. From there, you can spend the funds by writing checks or using your free Leaders MasterCard® debit card.

No. HELOCs are loans that are secured by your home equity. You can use the money to make home improvements, buy a car, pay debt, or finance your child’s college education. The money is there to use as you see fit.

 

Ready to get started? Apply online today! 

Still have questions? Visit our Help Center.

Do You Have HELOC Questions?

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HELOC Questions

Disclosures

1.Annual Percentage Rates (APR) are subject to change without notice. Rates are variable and subject to credit approval. APR may vary based on Wall Street Journal Prime (current rate as of 9/23/2022 of 6.25%) and are subject to change with market conditions. Home Equity Loan rates are calculated at Prime plus a margin. Margins remain the same for the life of the loan and can range from 0.25% APR - 6% APR. APR is based on credit scores and/or combined loan to value ratio and can range from no less than 6% or more than 18%. Closing cost based on credit line amount. Home Equity Line payments are based on the previous month’s principal balance on the last business day of the month. Payments recalculate if a draw occurs during the month. The minimum monthly payment amount is $100. Homeowner's insurance is required. All loans subject to credit approval. Additional terms, conditions, and restrictions apply and may change without notice.