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Personal and Business Banking

DCU Home Equity LinePLUS

Equity LinePLUS


A flexible line of credit with
fixed-rate advance options.

As low as

5.00

%


APR1

Prime rate minus 1/4% (.25%)2

What will you do with your home’s equity? A DCU Equity LinePLUS combines the power of your home’s equity with the flexibility of a line of credit. Access your Equity LinePLUS to make transfers or payments anytime, anywhere via Online Banking, the DCU Mobile App, and more.

  • No minimum advance or balance requirements – Borrow what you want, when you need it up to your available balance. Your monthly payment is only 1% of the outstanding balance.
  • Interest may be tax deductible – We recommend consulting a tax advisor. IRS publication 936 and your State Department of Revenue will also have more information on deductibility.
  • Lock in your fixed rate advances – Lock in your rate on a portion of your balance.
  • Use it as overdraft protection – Want extra peace of mind? Your Equity LinePLUS can serve as overdraft protection for your DCU Checking Account.
  • No points, no closing costs3
Apply Now ›
— UP TO 80% OF HOME VALUE4
Rate Index Annual Percentage Rate
(APR)
As low as Prime minus 1/4% (.25%) 5.00%

Rates are effective .

1 - APR = Annual Percentage Rate. Rates are determined by your personal credit history.
2 - Rates are variable, tied to the Prime Rate, and can change monthly. Please refer to DCU's Early Federal Disclosure for more information on Home Equity rates, including historical rate examples. You may obtain this information by contacting DCU.
3 - Excludes state mortgage taxes in FL, KS, LA, MD, MN, NY, OK, TN, and VA.
4 - 80% Loan to Value Max. Other restrictions may apply.
Available in all states with the exception of TX, CT, NC, WI, and WV.
Please be aware that current market conditions may limit the amount of financing DCU can provide. Examples include low property values, property located in a declining area, and type of property.


4.5 out of 5 stars filled

DCU Members rated Equity LinePLUS 4.5 out of 5 stars

Here's what they're saying:

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    Straightforward with no hidden fees

    The whole process in applying and getting the loan was very easy. I had great service that really helped things move along quickly and efficiently throughout the whole process.

    ~ Eddy
    Woburn, MA

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    Flex Money

    Payment for college bills, new windows, emergency repairs. The ability to get fixed-rate payouts for big things while only paying interest on what you actually need. Everyone from the DCU loan officer to the closing contractor were friendly and helpful at every turn. Great deal!

    ~ Dave42
    Amherst, NH

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    Comprehensive and flexible

    The DCU Home Equity LinePLUS is exactly what I was looking for. For short to medium term borrowing for home improvement expenses, to the option of two fixed larger loans, this product offers comprehensive and flexible options.

    ~ K1rby
    Sterling, MA

Previous videos Next videos
Equity LinePLUS is rated 4.5 out of 5 by 296.
Rated 5 out of 5 by from Excellent service and products The fixed rate option within the line of credit makes it a superb product.
Date published: 2018-10-13
Rated 5 out of 5 by from Excellent This product is so convenient and useful. You use it when you need it and just leave it there when you don’t. It gives you the peace of mind and confidence in knowing you are covered in an emergency.
Date published: 2018-09-22
Rated 5 out of 5 by from Better than a credit card I recently closed on this equity line of credit to take advantage of my substantial amount of equity in my home. The funds are being used to replace several aging big ticket item appliances. Since this is a line of credit that can be paid down and used again, I also have plans for a garage construction in the near future. The real nice feature is having it linked to my other DCU accounts so I can make simple transfers back and forth.
Date published: 2018-09-19
Rated 5 out of 5 by from THE PRODUCT ITS GREAT! Very nice people . The process is clear and not hard to understand !
Date published: 2018-09-15
Rated 5 out of 5 by from Excellent service Very pleased with the whole process of application, documents, approval and disbursement.
Date published: 2018-09-15
Rated 5 out of 5 by from DCU is extremely easy to work with. DCU is now my go to bank for everything. The customer service and ease of the process are excellent. I will definitely consider DCU for other banking products.
Date published: 2018-09-08
Rated 5 out of 5 by from Fixed rate option and 20 year draw + 20 year repayment term is fantastic DCU really did a great job combining packing a lot of great features into a single product. Great rates, fixed rate option, and a few Telisa 20 year draw and rapayment terms. I also enjoyed working with the DCU team. They are extremely professional, courteous and knowledgeable. All of these things combined is why I have been a member for almost 20 years and counting.
Date published: 2018-09-02
Rated 5 out of 5 by from Great service. Great loan officers and very professional. We had great service through the entire Home Equity increase request. All the associates we dealt with were knowledgeable and answered all my questions immediately.
Date published: 2018-08-27
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If we have a fixed rate home equity loan, can this be changed to a line of credit or does one need to close out the fixed and then reapply?

Asked by: NT
Close out and then re-apply.
Answered by: Moscownights
Date published: 2018-09-02

I already have credit line and fixed rate. If i want to pay off fixed rate and add that amount to credit line is it possible?

I use credit line for my emergency use. When fund is not available on time i just transfer money from credit line and take care of my problems with no stress.
Asked by: JJ
I am pretty certain you can.
Answered by: Vet1969
Date published: 2015-06-27

How long the Equity Plus loan process will take?

What's the max loan amount I can get? Are the rates higher than the conventional fixed mortgage loan rates?
Asked by: Suresh
The application to closing process for us took about 3 weeks. I did not request an expedited timeframe, and at times I took a few days to provide DCU with requested documents. The maximum loan is 85% of appraised value minus any outstanding mortgages or liens on the property. The revolving line rate is variable based on the prime rate. The rates for 2 fixed lines within the HELOC are set when those loans are originated. They are similar to a 30 yr fixed mortgage product rate.
Answered by: K1rby
Date published: 2018-08-25

Appraisal fee

How much is the appraisal fee on home equity line of credit? Does It have to be paid up front?
Asked by: Mikey
There is no appraisal fee with the HELOC. After providing all of the needed documents for DCU to conditionally approve the loan, they will order the appraisal.
Answered by: K1rby
Date published: 2018-08-25

Do we as the borrower, initiate contact with an appraisal company and then approach DCU about a HELOC? Or does DCU provide an appraisal firm?

Asked by: Homeowner
DCU provided the appraisal firm.
Answered by: Grand Canyon Hiker
Date published: 2017-10-28
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