Home Equity Line of Credit
Home Equity Line of Credit (HELOC)
Explore your financing possibilities with some help from Argent Credit Union.
Already applied?
Home Equity Line Of Credit Rates
Prime
Apply NowUse the money when you need it.
7.500%
APR as low as
7.500%
80%
Additional Details:
Restrictions may apply
Years
7.500%
$
Taxes & insurance not included, therefore the actual payment obligation will be greater.
Prime + 1.00
Apply NowUse the money when you need it.
8.500%
APR as low as
8.500%
90%
Additional Details:
Restrictions may apply
Years
8.500%
$
Taxes & insurance not included, therefore the actual payment obligation will be greater.
HELOC Loan Features & Benefits
A home equity line of credit is a revolving loan based on your home’s equity. You can access funds ranging from $10,000 to a full 90% of your equity. HELOCs provide extended draw periods and flexible payback terms making them the perfect fit for long-term financing events, including weddings, college tuitions, or even family vacations.
Home equity line of credit features include:
- Introductory rates starting at 3.49%* for the first 12 months
- Money available when and where you need it
- Competitive variable interest rates
- High loan to value ratios (LTV) ranging from 80% to 90%
How To Apply For A HELOC Loan
- Pre-Qualification: With the help of Argent Credit Union loan officers, determine the amount of money you are eligible to borrow with a HELOC loan.
- Application: Gather important documents such as pay stubs, W-2 forms, tax returns, and credit reports for the Argent team to evaluate. Applications can be done online, in-person, or over the phone. The qualification process should be completed within 1-2 business days.
- Documentation: Argent Credit Union loan officers may require additional documentation to approve your home equity line of credit. Respond to all questions promptly to receive your loan as soon as possible.
Already applied?
Home Equity Line Of Credit Calculator
This calculator helps determine your loan or line payment. For a loan payment, select fixed-term loan. For a credit line payment, you can choose 2%, 1.5% or 1.0% of the outstanding balance or interest only.
Loan & Credit Line Payment
Javascript is required for this calculator. If you are using Internet Explorer, you may need to select to ‘Allow Blocked Content’ to view this calculator.
For more information about these financial calculators please visit: Financial Calculators from KJE Computer Solutions, Inc.
Home Equity Line Of Credit FAQs
Q: Is it possible to make automated payments on my HELOC through a checking account?
A: As long as you have a checking account through Argent Credit Union, automated debit payments can be set up. A payment application form should be provided during your HELOC closing session, which you can complete and return to finalize enrollment.
Q: What percentage of my equity am I eligible to use with a HELOC?
A: The percentage of equity you can use is determined by several factors. Talk to your lender and complete an online application to receive an actual percentage.
Q: What kinds of purchases are best with a HELOC?
A: Unlike a home equity loan, which is used to pay for one-time or large purchases, HELOCs are revolving lines of credit. These loans are excellent for financing events with no established price or time frame. Weddings, remodeling projects, and college tuitions are some of the most common uses of HELOC funds.
Already applied?
*3.49% fixed Annual Percentage Rate (APR) for the first twelve months. Thereafter, variable APR adjusted quarterly based on Wall Street Journal Prime Rate (index) +/- 0 a margin for the life of the loan. The current APR as of January 31, 2023, is 7.50%, which includes a 0.00 margin and loan to value <=80%. The maximum rate of 18% APR. Rates and terms will vary depending upon loan-to-value and credit qualifications. An introductory offer is not available for refinances of existing Argent home equity loan/line of credit. Not available for a home purchase or investment properties. No closing costs. If you close your line of credit within thirty-six (36) months, you will be required to reimburse the Credit Union for closing costs paid on your behalf. These fees generally total between $400 and $1,000. If you ask, we will provide an itemization. Limited time offer.
NMLS #421982
