Interested in remodeling your outdated kitchen? Maybe you’re looking to pay off high interest debt. Learn what’s right for your needs.
using a heloc
What can your Home Equity do for you?
Overhaul your home value, pay for improvements, or consolidate debts at a better rate. It’s your equity, use it how you want!
- Pay for repairs, renovations, and side projects
- Make big-ticket purchases
- Refinance higher interest debt
- Increase your monthly cash-on-hand
How Does a HELOC work, anyway?
A Home Equity Line of Credit (HELOC) allows you to draw against the equity in your home as a line of credit, then pay it back over a long period of time.
- Borrow up to 100% of your home’s equity
- Low monthly payments spread over long periods of time
- Although we offer higher limits, there are no closing costs for non-escrowed lines up to $100k*
Home Equity Loans
Another Home Equity Option
A Fixed Home Equity Loan allows you to get a lump sum from a 2nd mortgage.
- For when you know exactly how much money you need
- Receive funds in a lump sum with a fixed rate
- Terms up to 15 years
Frequently Asked Questions
Your line of credit appears as an account within Online Banking, where you can make, same-day transfers to your checking account. Or, contact us and we’ll make that transfer for you.
There is no annual fee for the first year. After that, it is just $50.
You can borrow up to 100% of your home’s equity.
Your HELOC has a 10 year draw period followed by a 15 year repayment period.
Unlock the equity in your home.
*If your line is $100k or less, and you’re not paying off an existing lien, like a 2nd mortgage or HELOC from elsewhere, your new Columbia CU HELOC will have no closing costs.