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Home Equity Loans
and Lines of Credit

Flexible financing for life's biggest opportunities.

Apply for a Home Equity Loan View Home Equity Rates

Use the value you’ve built in your home to access funds for life’s big moments.

 

Home Equity Line of Credit
(HELOC)

Borrow only what you need, up to your credit limit with a low variable rate
As low as
5.75%*APR

  • Great for: phased or
    unpredictable expenses
  • No minimum draw required
  • As you repay, you can borrow again during the 10-year draw period

 

Home Equity Loan


Get all the funds at once and enjoy predictable payments with a low fixed rate
As low as
6.50%*APR

  • Great for: one-time known costs
  • Receive one lump sum and know your monthly payments up front
  • Two loan term options of 10 or 20 years



Apply Now View Rates

Why Choose a Home Equity Loan from BankFund?

Fast Approvals3

Approvals in as few as 10 days.

Low
Rates

Rates lower than most personal loans and
credit cards.

Flexible
Payments

Only pay
interest on what
you use.4

Easy
eClosing

Secure, digital closing from wherever
you are.5

Put your home equity to good use

  • Home
    Remodeling

  • Education Costs 

  • Debt Consolidation

  • Vacation Trips

  • Large Purchases

  • Emergency Fund

Even More ways to use your HELOC:

decorative imageVacation home or
investment property Tap into your home's equity as funds to purchase a second home or rental property
decorative imageAnother
Home Abroad Use the equity of your current home to purchase a home or land outside the US
Start Your Application
*Consult your tax advisor regarding deductibility of interest.

Interest-Only Loan Payment Calculator

Determine your monthly interest payment for a variable rate loan.

Enter the total loan amount in dollars

Enter the annual percentage rate

Your monthly interest payment will appear here.

*Calculator provides general estimations only. Inconsistencies may occur with the use of the calculator and the outcomes are not credit guarantees. For specific payment and interest information, please contact us.

Our Home Equity Loans are
Built Around You

  • Flexible qualification criteria
  • Available to BankFund members with no U.S. credit history or Social Security number
  • Designed specifically for to the unique needs of our international members starting their U.S. financial journey
  • Your loan balance counts towards your Global Rewards level, helping you earn better checking account rates, rate discounts on auto and personal loans, and other benefits over time 

Frequently Asked Questions

A Home Equity Loan provides a lump sum with a fixed interest rate, while a Home Equity Line of Credit (HELOC) is a revolving line of credit with a variable rate. Both let you borrow against the equity in your home.
You may be able to borrow up to 95% of your home's appraised value, minus your current mortgage balance. Actual limits depend on your credit, income, and BankFund Credit Union’s guidelines.
Common uses include home renovations, debt consolidation, education expenses, major purchases, medical bills, travel, and more. You have flexibility in how you use your funds.
You can apply online, by phone, or at any BankFund Credit Union branch. Our loan representatives will guide you through the process and let you know what documents are required.
BankFund Credit Union does not charge application fees or closing costs for most home equity loans and HELOCs. Some third-party fees may apply; our team will provide full details before you commit.
Many applications are approved in as little as 10 days, provided all required documentation is received promptly.
In many cases, interest paid on home equity loans or HELOCs may be tax deductible if the funds are used to buy, build, or substantially improve your home. Please consult your tax advisor for details.
Typical documentation includes proof of income, property information, mortgage statements, and identification. Our team will provide a personalized checklist based on your application.
Once approved, you’ll review and sign your loan documents—often electronically. Funds are usually available shortly after closing.
Our Home Equity Loan representatives are ready to help. Call us at 202-212-6400 or visit your nearest BankFund Credit Union branch for personalized assistance.

3 Based on a sample of BankFund Credit Union clients who met qualifying approval criteria and based on specific loan requirements and appropriate documentation
available at the time of application.
4 Interest only loan has a 10 year draw period followed by a 20 year repayment period.
5 Electronic Closing/Settlement proceedings are subject to availability in each state.
6 Homes currently listed for sale are not eligible for home equity loans.