Home Equity Loans and Lines of Credit
You can borrow up to 100% of your home’s value minus your first mortgage balance, up to $250,0001.
A Home Equity Loan makes it easy to:
Consolidate high-rate bills
Make home improvements
Buy a vehicle
Pay tuition
All with fast and
easy financing!1
Fixed Rate Home Equity Loan1,2,4
Unlock the value in your home with a Fixed Rate Home Equity Loan from Financial Resources FCU. Get a one-time lump sum at a competitive fixed rate, perfect for consolidating debt, funding home renovations, or covering major expenses with predictable monthly payments.
- One-time advance loan with a fixed rate and fixed monthly payments
- Borrow up to 100% of your home’s value, minus your First Mortgage balance, up to $250,000
- Terms available from 7 to 20 years
- No application fees, no closing costs, and no annual fees
- State-specific taxes and/or fees are the responsibility of the borrower(s)
- Lower your rate by 0.25% if this Home Equity Loan is in the first lien position (this usually means there isn’t another Mortgage, Home Equity, or lien on the property and this loan is in the priority position over all other liens)
Home Equity Line of Credit1,3,4
Get the flexibility you need with a competitive rate Home Equity Line of Credit from Financial Resources FCU. Access funds whenever you need them during the 10-year draw period — perfect for ongoing projects, unexpected expenses, or consolidating debt.
- 25-year term with a 10-year draw period
- Borrow up to 100% of your home’s value, minus your First Mortgage balance, up to $250,000
- No application fees and no closing costs
- The APR adjusts monthly to the current Prime Rate as listed in the Wall Street Journal, plus or minus a margin based on individual credit circumstances and services with the credit union, but never lower than 3.00% APR
- Certain states impose a Mortgage Recording Tax at the time a Mortgage is recorded, and can vary from state, county, and locality
Select your preferred method to connect with the next available Member Service Representative.
Home Equity Line of Credit Rates(1) (2) (3) (4)
| Term | Relationship Premium Annual Percentage Rates As Low As (2) |
|---|---|
| 25 years with a 10 year draw period | Valid for qualified Home Equity Lines of Credit up to 80% LTV (Loan to Value); then the APR adjusts monthly to the current Prime Rate* as listed in the Wall Street Journal Money Rates section, plus or minus a margin based on individual credit circumstances and services with the Credit Union, but never lower than 3.00% APR. *As of 12/11/2025, the Current Prime Rate is 6.75%. |
Home Equity Loan Rates(1) (2) (4)
| Term | Relationship Premium Annual Percentage Rates As Low As (2) | Monthly Payment per $1,000 borrowed |
|---|---|---|
| 7 Year Fixed Rate | 6.49% | $14.84 |
| 10 Year Fixed Rate | 6.75% | $11.48 |
| 15 Year Fixed Rate | 6.875% | $8.92 |
| 20 Year Fixed Rate | 6.99% | $7.75 |
Hero and Champion Account holders receive an additional 0.10% towards Relationship Premium Rates.
Home Equity Loan & HELOC Disclosures
(1) Home Equity Loans & Lines of Credit
- Approval and Availability: All loans and lines of credit are subject to credit approval. Rates and terms may change at any time without notice.
- Eligibility Note: Not everyone qualifies. You must meet Financial Resources FCU membership requirements and credit qualification standards.
- Geographic Restrictions: These products are not available in Puerto Rico or the states of Alaska, Hawaii, or Texas.
- Higher Borrowing Options: Programs allowing borrowing above 80% loan-to-value (LTV) are available. Contact us for details and applicable rates.
(2) Rates & Discounts
- Your Annual Percentage Rate (APR) depends on your credit history, the amount of equity in your home, and your relationship with the credit union.
- We offer a 0.30% rate reduction (Relationship Premium) if you have qualifying services with us. This includes:
- 0.10% for an active checking account (requires one of: monthly direct deposit of at least $500, at least 5 FRFCU cash card transactions in the prior month, or an active Bill Pay account).
- 0.10% for an existing consumer loan (excludes Credit Builder loans and Personal Lines of Credit).
- 0.10% for a FRFCU Mortgage or Investment Account.
- If you don’t have any qualifying relationships, add 0.30% to the displayed rate.
- Payment examples do not include taxes or insurance premiums. Your actual monthly payment will be higher.
(3) Home Equity Line of Credit (HELOC) Specifics
- The rate is variable and adjusts monthly based on the current Prime Rate (published in The Wall Street Journal) plus a margin determined by your credit and relationship with us.
- The rate will never drop below 3.00% APR and cannot exceed the maximum allowed under federal law (currently 18.00% as extended by NCUA through September 10, 2027).
- A $49 annual fee applies on each anniversary of opening the line.
- Rates can change without notice.
(4) Fees & Taxes
- State Mortgage Recording Taxes: In certain states/counties (AL, FL, GA, KS, Orleans Parish in LA, MD, MN, NY, OK, TN, VA), a tax applies when the mortgage is recorded. This can range from 0.10% to 2.175% of the loan/line amount (or $1 to $21.75 per $1,000 borrowed), depending on location. If your property is in one of these areas, we’ll notify you of the exact amount, and the loan/line will advance funds to cover it.
- Prepayment Rules: No prepayment penalties apply. However, if you pay off the loan or line and release the lien within the first 12 months, you’ll reimburse us for third-party closing costs we paid (up to a maximum of $195).
- Appraisal & Title Costs (for larger amounts):
- No fees for amounts up to $250,000.
- For amounts over $250,000: A full appraisal may be required (at your expense; typically $535–$635).
- For amounts over $500,000: Title insurance is required (at your expense; typically $1,000–$3,000).
Other Requirements
- Taxes & Insurance Not Included: Shown payments exclude property taxes and insurance. Your total costs will be higher.
- Insurance Requirement: You must keep property insurance in force on the home at all times during the loan/line term.