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Home Equity Line of Credit (HELOC)

It's money for the moments when you need it most.

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The car needs repairs, an old appliance needs replacing, the family needs a nice vacation so everyone can unwind. How do you pay? Probably your first instinct is to pull out a credit card. But a more cost-effective option might be a Home Equity Line of Credit. It's an easy-to-access line of credit you can tap into time and time again for any reason at all.

  • HELOCs offer variable rates that are usually lower than credit card rates
  • Borrow funds as needed for 10 years, and then take up to 15 years to repay
  • Borrow up to 80% of your home's equity, which is market value minus current mortgage balance
  • Ideal for consolidating higher interest loans or credit card debt
  • Power Financial Credit Union may cover up to $1,000 in closing costs*
  • Access funds through special checks or through Online or Mobile Banking
  • Interest payments could be tax-deductible**

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*Credit Union pays up to $1000 toward closing costs on new lines and refinances regardless of lien position. Member will reimburse the Credit Union if loan is closed within 48 months.

**Consult your tax advisor.

Power Financial Credit Union serves members across South Florida with 8 full-service branches and offers convenient account access from anywhere using its secure Online Banking and highly-rated Mobile App.