Home Equity Line Of Credit HELOC .
Standard variable APR after the introductory period.
7.74 %
APR
Fixed Rate Advance
* See crucial information about rates, fees and other expenses
Special Introductory Rate Offer
Make an application for a new home equity line of credit (HELOC) and get a set rate as low as 5.99% APR3 for 6 months when you apply by October 15, 2025.1 After the initial period, your rates will vary from 7.74% to 10.59% variable APR based upon your credit.2 This deal is restricted to owner occupied residential or commercial properties.
Features & Benefits
HELOC allows you to gain access to cash by borrowing versus your home's equity. HELOCs are fantastic for home enhancement projects, financial obligation consolidations, and paying continuous costs with time. BECU's HELOCs provide:
- Low-interest-only payments throughout 10-year draw duration
- Option to lock in your rate on as much as three loan amounts3
- Loans as much as $500,000.
- No appraisal expenses, title insurance coverage charges, document mailing charges, escrow charges.
- No origination fees, yearly cost or application charge.
- Access to funds when you require them
Fixed Interest-Rate Advance3
You can get any amount up to your HELOC optimum at any time, nevertheless, there are advantages of locking in the rate on larger amounts.
Here's how it works:
- Select any amount of $5,000 or higher (up to the total of your loan quantity).
- You can have up to three different fixed-rate loans at one time.
- You pick the regard to the loan up to 15 years.
- Make payments toward both principal and interest.4
Lock in your rate in Electronic banking or visit a BECU place.
Contact BECU
myrtlebeachcondoforsale.net
Questions? Stop by an area, or schedule a time to speak to a BECU member specialist or give us a call at 844-BECULOAN (844-232-8562).
How do I access funds?
myrtlebeachcondoforsale.net
Transfer can be made in Online Banking, by phone or at an NFC.
What's a HELOC variable rate?
BECU's HELOC interest rates are based upon the Wall Street Journal prime rate as of the last day of the prior month plus a margin. The variable rate goes through change with the modification in prime rate.
Can I change the rate from a variable to a fixed?
You have the choice to secure a fixed rate (minimum $5000) on all or any part of your variable rate balances at any time.
- Any portion of the balances not converted to a set rate choice will continue to have a variable rate and minimum payment in addition to the repaired rate payment.
- You can have up to 3 set rate choices in location at any time.
- Locking in a fixed rate can be done in online banking, by phone or at an in one of our locations.
Is a HELOC interest tax-deductible? ⁵
The interest may be tax-deductible; however, the eligibility depends upon various factors. Please seek advice from with your tax advisor.5
Related Content
BECU Answers Your Questions About HELOCs.
How Does a Home Equity Line of Credit Work?
Home Improvement loans.
Home Mortgage Refinancing
1Financing goes through BECU membership, credit approval and other underwriting criteria; not every applicant will qualify. Only your main house qualifies for this introduction APR. BECU needs to have the ability to ideal a first or second mortgage lien on your one-to-four family house. Borrower will not need to pay any in advance charges to open the HELOC in regular scenarios. Borrower is needed to pay for optional services (e.g., if Borrower keeps a lawyer that Borrower is not required to use). In South Carolina, where the law needs use of a lawyer, BECU will be solely responsible for paying all lawyers' costs and costs necessary to open the HELOC and will perform this obligation totally by paying all sensible lawyers' costs and costs associated specifically to the closing based upon rates typically charged by attorneys in the regional market for the closing of similar HELOC deals. If the title report reveals more than one existing lien, judgments, deceased owners or other title concerns, or if the appraisal reveals problems with the subject residential or commercial property, however, then Borrower might be needed to pay 3rd celebrations to secondary or otherwise deal with such title concerns and/or to fix or otherwise deal with such residential or commercial property issues. These third-party charges may vary from approximately $150.00 to $775.00 based on the particular situation. This series of charges does not include quotes for the costs of home repairs. Additional state or local mortgage charges or taxes may apply. Borrower will be required to spend for risk insurance coverage (including flood insurance coverage, if applicable) throughout the regard to the HELOC. When the HELOC ends, Borrower will be required to pay a reconveyance fee of up to $327.50. This cost should also be paid when re-financing your existing BECU HELOC with a new HELOC - this cost is subject to alter at any time. Loan programs, terms and conditions undergo alter without notice.
2During the HELOC introduction your minimum payment quantity may be less. During the introduction period and after, your regular monthly payment will equal the quantity of accrued interest, based on the lesser of $100 or your outstanding balance. Because the minimum regular monthly payment during the draw duration is interest only, your principal balance may not be minimized. At the end of the draw duration, your month-to-month payment will increase and equate to the amount of principal and interest required to pay off the loan balance by the end of the 180-month repayment duration. Your payments during both the draw and payment durations will not include quantities due for residential or commercial property taxes and insurance coverage. The APRs for BECU's HELOCs are variable and are based upon the greatest Prime Rate as published in the Wall Street Journal on the last day of the previous month plus a suitable margin. Current HELOC rates vary from 7.74% APR - 10.84% APR since 4/15/2025 and go through alter. The maximum APR that can apply to BECU's HELOCs is 18%. APRs do not include expenses aside from interest.
3The six-month introductory offer applies to applications gotten between 4/15/2025 to 10/15/2025. The APR for credit line advances during the intro period will be 5.99% -7.99%, based on credit reliability, for 6 months from date of account origination. After that, your APR will range from 7.74% to 10.59% since 4/15/2025. This APR is based upon the Prime Rate in impact on the last day of the previous month, plus a margin, but will never ever surpass 18.00% or go below 3.25%. The APR for Fixed Rate Advances (FRA) currently ranges from 7.74% to 10.59% as of 4/15/2025, the FRA APR will be the rate in effect when the FRA is developed, which can only take place when the HELOC funds and an advance is taken. Your specific APR( s) is identified by your creditworthiness and residential or commercial property.
4There is no difference between the draw and repayment durations for Fixed Rate Advances (FRA). Your regular monthly payment for any FRA will immediately equal the amount of principal and interest essential to pay off the FRA balance by the end of the FRA's term.
5Information consisted of on this site does not make up legal or tax recommendations. Individuals ought to talk to their financial advisor and/or lawyer for recommendations.