Home Equity Line of Credit (HELOC) at Red Rocks CU

For a wide variety of life’s biggest goals, our home equity solutions are the answer. An ideal solution for debt consolidation, home renovations and repairs, education, unexpected bills, major purchases, and more options tailored to your unique situation.

  • Flexible line-of-credit access to cash.
  • Finance only what you need when you need it at a competitive variable rate
  • Borrow up to 89.9% of the value in your home
  • Flexibility to convert drawn funds to a fixed-rate loan
  • Enjoy tax benefits*
    Simplify your account opening process by gathering the following documents beforehand:
    • Valid Government Issued ID

Terms and Conditions
*The interest may be tax deductible. Consult your tax advisor.

The APR for a Home Equity Line of Credit is variable and based on Prime Rate as published in the Wall Street Journal, plus a margin. The maximum APR is 12.00%. You can obtain credit advances for 120 months (the draw period). During the draw period, payments will be due on a monthly basis. Your minimum monthly payment for variable rate balances will be established at the close of each billing cycle at an amount equal to the greater of 1.00% of Your then unpaid balance or all accrued but unpaid Finance Charges incurred during the billing cycle, subject to the lesser of $50.00 or your variable rate balance. Typical loan application and closing fees can range from $231.25 to $1,088.25. The Annual Percentage Rate (APR) for a Fixed Rate second mortgage is based on credit score. An APR of 10.25% will result in 180 monthly payments of $10.90 for every $1,000 borrowed.

View our Home Equity Line of Credit rates, fees and other cost information here.