Home Equity Loans & Lines

Remodel a room, consolidate bills, cover college tuition or take a once-in-a-lifetime vacation. Home equity funds are an excellent way to pay.

Turn the equity in your home into cash

Two great choices
Get all your money upfront or opt for a line of credit you can access as needed.
Serious money
Borrow up to 90% of the equity you have in your home, with a maximum of $150,000.
Competitive rates
Lower interest means more money for your projects, purchases, and other plans.

Get a .25% APR* discount for automatic payments. Time to get out and play.

The options are pretty much endless

Since home equity funds can be used for almost anything, there are lots of ways to make your home work for you. But here's your first decision: Do you want all your money right now or would you prefer to borrow it as needed? Compare the options below, and when you're ready to apply, this simple checklist and equity calculator can help. Please note, our home equity options are available in Virginia only**.

Home Equity Line of Credit
  • Tap into a loan fund as often as you wish for almost any reason
  • Access money with checks, through Digital Banking or at DECU branches
  • Borrow up to 90% of the equity in your home, with a maximum of $150,000
  • Often used for recurring expenses, such as home improvements or college tuition
  • Low variable interest rate
  • Monthly payments depend on the current rate and unpaid balance. But you only pay interest on the amount of money actually in use.
Home Equity Loans
  • Receive your money all at one time
  • Borrow up to 90% of the equity in your home, with a maximum of $150,000
  • Often used for one-time projects and purchases, such as home additions, a new vehicle or debt consolidation
  • Low, fixed interest rate with the same payment amount every month
  • No closing costs**
  • 0.25% APR discount if you schedule automatic payments

Frequently Asked Questions

You can apply for loans and credit cards at the same time you join! There is no waiting period before you can take advantage of all our member benefits. The moment you become a member, you can start applying for auto loans, mortgages, and every other service we have to offer.

Our rates follow along with the Wall Street Journal Prime Rate. Your Annual Percentage Rate (APR) for a HELOC is calculated based on a variety of factors, including credit score, loan-to-value, line amount, and location of the property securing the line of credit. 

The minimum monthly payment is based on the current outstanding balance. The payments go to both interest and the principal balance. payments are calculated based on a 15 year repayment term. 

A home equity line of credit can be secured by an owner-occupied, single family, primary residence located in VA. Not valid for investment homes,  mobile of manufactured homes. 

A $299 processing fee is charged to the loan proceeds at funding, all other standard closing costs will be paid upfront by the credit union. if the credit line is closed within the first 3 years after funding, repayment of the closing costs paid by the credit union would be required. 

We are available to answer questions, discuss your account and review your options. you can call 800-268-6928 opt. 3 Monday through Friday 9am - 4pm or email [email protected]

Our online application takes about 15 minutes to complete. The average turn around time from receipt of application until funding is 4-6 weeks. 

Having a good credit score does increase the likelihood of getting approved for a home equity line. However, it is only one of the factors considered. Other factors include having enough equity in your home, allowable debt-to-income ration, etc.

Cards to fit every lifestyle

From earning rewards to competitive rates, our credit cards are the perfect combination of perks, convenience and security.