Welcome to the new Dominion Energy Credit Union website!
Same commitment. New personalized solutions. Upgraded look and feel. Introducing an enhanced website experience with even more ways to help you meet your financial goals.
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.
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 any reason
- Access money with checks, through Digital Banking or at DECU branches
- Borrow up to 90% loan-to-value of your equity, 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% loan-to-value of your equity, 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
| Type | Term | APR |
|---|---|---|
| Home Equity Loans | Fixed Rate | 7.50%** |
| Line of Credit | 8.25%** |
** Only available in VA.Subject to loan-to-value and credit qualifications.Rates shown includes a ¼ % discount for repayment by payroll deduction or automatic transfer
from your credit union account.Minimum loan amount is $15,000.Minimum line amount of $15,000 and minimum initial draw of $2,500 on line.Other restrictions may
apply.A processing fee will be charged at funding on all Home Equity Lines of Credit.If you close a home equity line or pay off a home equity loan within 36 months after
getting it,you may be required to reimburse the credit union for all applicable closing costs.Title Insurance may be required.
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.
Financial education and resources to support your success
Cards to fit every lifestyle
From earning rewards to competitive rates, our credit cards are the perfect combination of perks, convenience and security.
*Only available in VA. Subject to loan-to-value and credit qualifications. Must currently have a first mortgage loan. Minimum loan amount is $15,000. Minimum line amount of $15,000 and minimum initial draw of $2,500 on line. Other restrictions may apply. If you close a home equity line or pay off a home equity loan within 36 months after getting it, you may be required to reimburse the credit union for covered closing costs. Title Insurance may be required.
Dominion Energy Credit Union, headquartered in Richmond, Virginia, is a full-service financial institution that serves Dominion Energy employees and offers competitive rates on home equity loans and lines of credit and first mortgage options.