Need 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 option 5 or anytime at loandept@bdfcu.com. View important terms of our HELOC plan here.
