Home Equity Line of Credit

Do more this summer

At TFCU, we want to help you do more. A Home Equity Line of Credit offers low variable rates and flexible loan terms. Borrow up to 95% of the equity in your home to do more of what you want.

Do more with TFCU

Whether you’re renovating your home or booking that family vacation you’ve been putting off for a year, we’re here to help.

Home Equity Loan vs. HELOC: What's the Difference?

A home equity loan and home equity line of credit (HELOC) both use the value of your home. They are similar in that you’re borrowing against your home equity. So what’s the difference? In short, a home equity loan is one lump sum, and a HELOC is used as needed.


A HELOC is similar to a credit card. With this revolving credit line, you have an amount of money available to for you to borrow and pay back, but you can take what you need as you need it. You’ll also only pay interest on the amount you withdrawal.

With the flexibility of a HELOC, you can borrow as much or as little as you need. A HELOC can be a good source of money for anything you might need extra funds for including vacations, debt consolidation, college planning, and more.

Home Equity Loan

Home equity loans usually have a fixed interest rate, which means the payment is the same each month. Your loan payment will be in addition to your existing mortgage payment.

Since it’s a lump-sum, a home equity loan can be a good source of money for major home projects and one-time expenses.

*APR = Annual Percentage Rate. Limited time offer. Rates subject to change without notice. Loans subject to approval. Actual rate will be determined by LTV. NMLS ID 462532. Equal Housing Lender.