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Home Equity Line of Credit (HELOC): What you need to know

Home Equity Line of Credit (HELOC) by Denver Community Credit Union Apply Now

A HELOC (Home Equity Line of Credit) uses the available equity in your home to fund larger expenses. The money from a HELOC can be used for just about anything, including home improvements, dream vacations, and education expenses. Denver Community Credit Union's HELOC products have attractive draw period and payback options. What makes the HELOC a great option for many is that you only take out as much as you need, when you need it, and only pay interest on the balance that you owe. (See details at the bottom of this page.)

How HELOCs Work

HELOC interest rates are tied to Prime, as published by the Wall Street Journal. Prime can change; therefore, the interest rate on your HELOC can change as well. The limit of your HELOC is determined by various factors including, but not limited, to the amount of available equity in your home, credit score, loan-to-value (LTV), loan term, and other liens. 

Find out more about Denver Community Credit Union HELOCs in our Q&A section.

HELOC Benefits

  • Competitive & easy-to-understand rates
  • Loan may be used for any reason
  • No pre-payment penalties

Home Equity Incentive

Tap into your home's equity to make your goals a reality. Finance home improvements, a vacation, or even an education at a great, low rate with a 2nd Mortgage or Home Equity Line of Credit.

Open a new Home Equity Line of Credit and draw $20,000 or more in new money between 2/1/2019 and 3/31/2019 and earn $100.  Already have a HELOC? Simply make a draw of $20,000 or more in new money during the promotional period to earn your $100.**

Claim Your $100

After drawing $20,000 or more from a Home Equity Line of Credit, you'll need to let us know! To receive your $100 incentive do one of the following:

  • Call us at 303-573-1170
  • Visit us at any branch location
  • Fill out the form below

Claim your $100

Interested in a HELOC from Denver Community?

If you think a Home Equity Line of Credit (HELOC) may be a good option for you to reach further for your dreams, please contact us at 303-573-1170. You can also apply online here.

If you already have a Home Equity Line of Credit, find out how to access your funds.

* All products are subject to credit and property approval. Rates and terms are subject to change without notice. Certain restrictions and limitations may apply. Home equity loans must be secured by your owner-occupied residence. Loan-to-value (LTV) of 85% or less, depending on market. Property insurance is required. The rate is indexed to prime plus or minus a predetermined margin and is subject to change quarterly. The floor interest rate is 5.00% APR. (APR = Annual Percentage Rate). All application requests are subject to credit approval. For specific tax advice, please consult a qualified tax professional. Home Equity Lines of Credit are offered through Denver Community Credit Union.

** For HELOCs: The HELOC must be opened and have $20,000 or more drawn between 2/1/2019 and 3/31/2019. The $100 incentive will be deposited into the Share Savings within 10 business days of the draw. To qualify, you must have your account marked by a credit union representative. To have your account marked, request a draw from your HELOC using our request form, calling 303-573-1170, or visiting any branch location. $100 incentive is subject to taxation via Tax Form 1099-MISC.
*** All loans are subject to credit and collateral approval, including loan-to-value requirements. Rates and terms are subject to change without notice. Certain restrictions and limitations may apply. Home equity loans must be secured by your owner-occupied residence. Property insurance is required. The rate is indexed to prime plus or minus a predetermined margin and is subject to change quarterly. The floor interest rate is 5.00% APR. (APR = Annual Percentage Rate). Home Equity Lines of Credit are offered through Denver Community Credit Union. Denver Community home loans are only valid for Colorado properties.

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