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**

Going to College

Buying a car

Getting married

Retiring

Funding Your Next Project

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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.