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We make it easy to tap into your equity.
A Home Equity Line of Credit (HELOC) is a great way for you to borrow money against the equity you have built in your home. Plus, for a limited time get $0 Closing Costs* with a HELOC!
What is a HELOC?
A Home Equity Line of Credit (HELOC) is a flexible loan that allows you to borrow against the equity in your home. It functions like a credit card, in which you are given a line of credit that you can borrow from, pay back, and borrow from again. It’s a popular choice for homeowners because it helps make your life Everyday Easy®.
$0 Closing Costs* with a HELOC
For a limited time, pay $0 in closing costs on a new Home Equity Line of Credit with Christian Financial. View Terms and Conditions.
Ways to Use a HELOC
Ways to use a Home Equity Line of Credit
Update Your Home
Home updates, improvements, additions and repairs are among the most popular reasons for opening a HELOC.
Consolidate Debt
Bills can add up! Use a HELOC to consolidate debt and save money over time.
Education Expenses
The cost of college can be expensive. A HELOC is a low rate way to help with tuition costs.
Emergency Funds
Borrow only what you need, when you need it for a lower interest rate than most loans.
Event Expenses
Have a big event, like a wedding or a vacation coming up soon? Use your HELOC fund to help with the expense.
Medical Expenses
While insurance might cover the costs of most services and treatments, your HELOC can cover the rest!
Calculate how much you can borrow
The amount you can borrow with a HELOC is based on the equity you have in your home. Home equity is the difference between your home’s current market value and the current balance of your mortgage.
Calculate your estimated borrowing capacity using a home equity line of credit
HELOC Benefits
HELOC Benefits
Borrrow up to 90% of Your Home Equity
One of the most attractive features of a HELOC is the ability to borrow a significant portion of your home’s equity—up to 90%.
Lower Interest Rate
Compared to credit cards or personal loans, HELOCs often offer much lower interest rates. While credit card rates can exceed 20% or more, HELOC rates are much less.
Easy Access in Digital Banking
Accessing your HELOC funds has never been easier. In our app, manage your account and withdraw funds when needed.
Increase your Credit Score
A HELOC can positively impact your credit score if used responsibly. By managing your borrowing and repayment effectively, you can improve your credit score over time.
Flexibility & Control
Unlike a traditional loan, a HELOC operates like a credit card in that you can borrow only what you need and pay it back as you go. You are given a draw period (10 years) during which you can access funds and make payments.
Taxes Deductible
In certain cases, the interest paid on a HELOC may be tax-deductible. If you use the funds for home improvements or other qualified purposes, you might be able to deduct the interest from your taxable income. Please consult with a tax advisor to see if you qualify.
*APR = Annual Percentage Rate. Rates shown are the best available, subject to change without notice, based on credit history and pending credit approval. Loans financed over 80% Loan to Value may be subject to a higher rate of interest. Minimum amount financed on a Home Equity Line of Credit is $7,500. Must have ability to repay. Christian Financial waives fees on Home Equity Lines of Credit up to $75,000 for Collateral Valuation (including appraisal if required), Credit Report, Flood Certification, Junior Title Policy and Mortgage Recording. Applicant pays appraisal fee, which is fully reimbursed at closing if loan approved and the loan closes within 45 days of application. Offer may be discontinued or changed at any time. Home Equity Lines of Credit are available on primary residences only, in the State of Michigan. The minimum rate that may be imposed is 5.50% APR. The maximum rate that may be imposed is 14.00% APR. You must pay certain fees to third parties to originate the Home Equity Loan. These fees generally total between $0.00 and $1,000. If you ask, we will provide you with an itemization of the fees you will have to pay third parties. Property insurance is required, and flood insurance may be required. Non-members will be charged a $10 new membership fee upon account opening. Offer valid until May 31, 2025. Contact Christian Financial for full details. Christian Financial Credit Union is federally insured by the NCUA. Equal Housing Opportunity Lender.
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