Home Equity Line of Credit
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The Home Equity Line of Credit is a variable-rate loan. HELOC loans are available to owners of single-family and townhouses in Maryland only. For single-family homes/townhouses, borrow up to 100% of the current appraised value minus any first mortgage balance. Property insurance is required. Flood insurance may be required. Existing loan rates may change every February 1st and August 1st based upon the Prime Rate as of the December 15th and June 15th, respectively.
Contact us at 240-459-8008 for further details and to apply.
PLEASE NOTE THE FOLLOWING:
- Effective November 1, 2004, the WSSC Federal Credit Union Board of Directors has adopted risk-based lending. The purpose of risk-based pricing is to offer more competitive rates to our members based on each individual’s credit history. The Board of Directors will set and adjust the rate structure according to risk. Rate information will be posted on our website (www.wsscfcu.org) and may also be obtained by contacting the Credit Union.
- All Current Lending Policies Apply
- Total indebtedness to the Credit Union may not exceed $60,000.00
(Share, Home Equity and Tax Smart Loans are exempt from calculation)
- *APR = annual percentage rate. All Rates Subject To Change
- The Credit Union reserves the right to refuse consideration of a loan application submitted by a member who has caused the Credit Union to suffer any form of financial loss
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