Home Equity Line of Credit
Put your home's equity to work for you.
IECU is proud to offer our members Home Equity Line of Credit or HELOC Loans! This unique product allows you to use the equity in your home to accomplish any number of your goals. Ideal for home improvements, large purchases, or consolidating debt, IECU’s HELOC will allow you to draw funds from your line for up to five years. Then to help keep the payments affordable, you will have 15 years to pay the balance back! Your home already does so much for you, why not allow the equity that you have in it to work for you!
Sound like the product for you?
Call, our HELOC experts at 217-528-2642 or
*HELOC’s are currently only offered in the State of Illinois
Frequently Asked Questions
Up to $100,000, or 90% loan to value of your house.
An appraisal may be required. Alternatively, we may do a Market Value Assessment on your home.
Payments are broken up evenly based on the amount borrowed and the term remaining on the loan, or a minimum of $100.
Typically 2-3 weeks, however, if a full appraisal is requested, it can take up to a month.
HELOCs can be used for essentially anything including, but not limited to, home improvements, vacations, debt consolidation, emergency expenses, education expenses, or buying an investment property.
HELOCs are currently only available in Illinois.