Get cash out of your home fast with iQ's Home Equity Line of Credit

Plus, we'll cover closing costs for applications submitted in May and June 2021.*

Make Home Upgrades
Pay Off Credit Cards
Handle Unexpected Bills
Benefits of iQ's Home Equity Line of Credit

With a flexible line of credit and several different options to best fit your specific needs, putting the equity that’s sitting in your home to work for you can be a smart and strategic financial decision. 

Easy application process
Apply online, over the phone, or inside   online banking

Locally processed and serviced

Typically don't require appraisal

Limits as low as $10,000

Options for non owner-occupied properties

Access to cash when you need it

Want low monthly payments

Use to pay off high interest   credit cards or other debt

*APR = Annual Percentage Rate. Rates are variable and vary with Prime Index Rate as published by the current Wall Street Journal, currently 3.25%. We add a margin to the index to determine the actual interest rate. The minimum APR is 3.75% The maximum APR is 15.00%. Actual rates depend on member credit qualifications including credit and employment history, and amount of equity in the property. Promotional waiver of closing costs pertains to all costs required to open the line of credit except for any required appraisal. If an appraisal is required, borrower will be required to pay for such appraisal, normally $675 or more. If the Home Equity Line of Credit is paid off and closed within the first 36 months, waived closing costs must be repaid to the credit union (up to $300). Minimum loan amount is $10,000, but there is no minimum advance requirement. Credit is subject to approval, not all applicants will qualify. Fees that occur after the line is opened, such as annual fee ($35) and reconveyance fee are not considered closing costs. Flood and /or property hazard insurance may be required and are also not considered closing costs. All Credit Union loan programs, rates, terms, and conditions are subject to change at any time without notice. All loans subject to approval of property. Current APR range of 3.75% - 5.75% is accurate as of 04/01/2021. Promotion is valid for applications taken between May 1, 2021 and June 30, 2021 (and the loan must be funded no later than July 31, 2021).

Home Equity Line of Credit - Rates Effective as of April 1, 2020
Loan Type APR Fixed or Variable Rate Index Margin Annual Fee Title-Date More Info
up to 80% Home Equity Line of Credit 3.75% - 5.00% Variable Prime Rate -.25% - 1.75% $35
85% Home Equity Line of Credit 3.75% - 5.75% Variable Prime Rate .50% - 2.50% $35
90% Home Equity Line of Credit 4.50% - 5.50% Variable Prime Rate 1.25% - 2.25% $35

* APR = Annual Percentage Rate. Actual rates depend on member credit qualifications including credit and employment history, and amount of equity in the property. The current Wall Street Journal prime index rate is 3.25%. We add a margin to the index to determine the actual interest rate. The minimum APR is 3.75%. The maximum APR is 15.00%. Rates for fixed term conversions taken against the line range from 3.75% APR to 7.5% APR. Loan Costs: Range between $155 and $1,500 to cover third party costs, and are paid by the borrower. Learn more about Home Equity.

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