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Home Equity Loans & Lines of Credit

Home Equity Loans & Lines of Credit

3.99% Intro APR* for Home Equity Line of Credit first 12 months with no closing costs**

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Make your dream home — and all your other dreams — come true with a HELOC or Home Equity Loan from Fox Communities Credit Union

Whether you loved your house from the start but now want to do some sprucing up, or you had big plans for it from the very beginning, a home equity loan or home equity line of credit (HELOC) from Fox Communities Credit Union can make those big plans — and big dreams — happen.

Upon applying for a new HELOC or refinancing your existing HELOC*** before Sept. 30, 2022, you may enjoy an introductory rate of 3.99% APR* for the first 12 months, and you will pay no closing costs in an appraisal is not required.** Variable rate is 5.50%-8.50% thereafter.*

So, if it’s time to remodel the inside of your home, the outside of your home, or everywhere in between, a home equity loan or line of credit from Fox will give you the funding needed to turn your home into the house of your dreams by completing projects such as:

  • Remodeling your kitchen into a 5-star chef’s dream
  • Designing and building a relaxing backyard oasis
  • Creating the luxurious bathroom you’ve always envisioned

And more! The options are limited only by your imagination. The only question is — is a home equity loan or a HELOC right for you?

Use your home to help consolidate your debt with a HELOC or Home Equity Loan from FOX

Did you know that your home – or, more specifically, your home’s equity – can be one of your most useful tools in consolidating your debt? That’s right, you can use a HELOC from Fox to consolidate your debt, which often means lower monthly payments, lower interest rates, or fewer payments in general.

Does that mean a HELOC is right for you and your debt consolidation plans? Well, there are a few ways to figure that out. As always, our friendly Fox team is here to help you figure out the best way forward for you and your finances. If that means using a HELOC to consolidate your debt, then that’s what we’ll do. If there’s a better path forward, then we’ll help you get started on that instead. You can also do a little research on your own, if you’d like, thanks to our HELOC Debt Consolidation Calculator.

HELOC CONSOLIDATION CALCULATOR CONTACT OUR TEAM

Home Equity Loan2

Borrow money in one lump sum and make monthly payments for the life of the loan, using the equity in your home to achieve your next big financial goal.

  • Borrow up to 90% of the equity in your home.
  • Repayment term of up to 30 years.
  • Potentially tax deductible.*

Home Equity Line of Credit3

You made your house a home, now let it help you achieve the rest of your dreams by using its equity how you want to, when you need to.

  • Establish a credit line up to 90% of the equity of your home.
  • Use the amount you need and once the funds are paid down, the money is available for you to use again — and again and again!
  • Easily transfer funds using online or mobile banking.
  • Potentially tax deductible.*

When it’s time to transform your home, work with a mortgage partner who can make it happen.
At Fox, you come first.

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How your available equity is determined

The following example is based on a $100,000 home value, using 90% of the equity to determine loan/line amount with $50,000 in outstanding lien loan balance:

$100,000 home value x 90% = $90,000

$90,000 – $50,000 outstanding loan


$40,000 potential credit line

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*Offer expires 9/30/2022.  Introductory 3.99% Annual Percentage Rate (APR) is fixed for the first 12 months on new advances for home equity line of credit (HELOC) with applicant(s) meeting minimum credit standards for the promotion and a maximum HELOC Combined Loan-To-Value up to 80%. Thereafter, APR may vary quarterly based on the Wall Street Journal Prime Rate (currently 5.50%) plus a margin of 0% to 3% based on creditworthiness, with a floor rate of 2.50% APR and maximum APR is 18%. The APR based on the current index and applicable margins ranges from 5.50% to 8.50%.
There is a 15-year draw period for advances which borrower will be billed for interest only or $100, whichever is greater, followed by a 15-year amortization of principal and interest.
**Appraisal may be required if information available indicates the fair market value of the property is less than required for loan applied for. Member is responsible for appraisal cost ranging from $214.50 to $796.50, if required. Must be primary residence and property insurance is required.
***The promotional rate applies to new HELOCs only. Current HELOC borrower(s) must refinance existing HELOC with a credit limit increase of $5,000.00 or more to qualify as a new HELOC, subject to credit approval. Fox Communities Credit Union reserves the right to end this promotion at any time. Loans are subject to final credit approval. Membership eligibility required. Not valid with any other offer.
1. General Disclosure:
Must meet eligibility requirements. All loans subject to final approval. Rates, Terms, and Conditions subject to change and may vary based on creditworthiness, qualifications, and collateral. Subject to change or terminate without notice. At closing, a fee is charged to cover title search, flood certification, recording, and property evaluation fees. Additional fees, such as for an appraisal, may apply. Consultant a tax advisor about deducting interest and fees.
2. Home Equity Loan Fixed Rate Disclosure:
For a $35,000 home equity loan with a term of 5 years at 3.445% Annual Percentage Rate (APR), the monthly payment will be $636.71.
Home Equity ARM Disclosure:
5/1 ARM payment example for a $35,000 loan with a 3.50% rate and 5.119% APR, the first 60 monthly payments are $157.17 with 12 payments at $193 if the rate adjusts to the annual maximum of 5.50%, 12 payments at $231 if the rate adjusts to the annual maximum of 7.50%, 275 payment at $271 if the rate adjusts to the ceiling of 9.50%, with one remaining payment at $271. Payment examples do not include taxes and insurance premiums; actual payment obligation may be greater.
3. Home Equity Line of Credit Disclosure:
Current variable Annual Percentage Rate (APR) based on Wall Street Journal Prime plus a margin. Margin based on creditworthiness, qualifications, and collateral. Maximum APR of 18.00%. Closing costs range from $214.50 and $796.50; additional fees may apply. Available draw period during first 15 years.
4. Minimum disbursement $500; minimum line of credit $5,000; minimum payment interest-only or $100, whichever is greater.

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