Home Equity

smiling familyNeed cash? Tap the accumulated equity in your home with a convenient, flexible home equity line of credit. Get pre-approved in as little as 24 hours, and pay no points or closing costs (we pay the closing costs for you!). For one low $225 application fee, you can borrow against property in these counties:

  • Washington County or Frederick County, Maryland
  • Franklin County or Fulton County, Pennsylvania
  • Berkeley County or Jefferson County, West Virginia

Make payments in cash or choose the convenience of automatic debit from your BFCU account. Property insurance is required. Payment protection is available. A 3% late fee is assessed after 15 days.

HELOC at-a-glance:

  • Variable rate, open ended
  • First advance: $5,000 min.
  • Subsequent advances: $500 min.
  • Easy check access to your balance (or contact the credit union for an advance)
  • Up to 80% LTV: $250,000 max. loan
  • 81% – 90% LTV: $20,000 max. loan
  • First or junior lien on principal residence, second home, or investment property
  • Rate based on LTV and credit score
  • 10-year draw with 10-, 15-, or 20-year amortization

For more information on a home equity loan, or to schedule an appointment to apply, contact the loan department during regular business hours at (301)797-6318.