Home Equity Line of Credit (HELOC)

Home Equity Line of Credit (HELOC)

Whether you’re planning to update one room or renovate your entire home, our Home Equity Line of Credit is perfect for all your home improvement projects.

Use Your HELOC for:

  • Remodeling or repairing your home
  • Paying for educational expenses
  • Taking a vacation
  • Updating your landscaping

Home Equity Line of Credit Benefits

  • Great low rates
  • No application fee
  • A 20-year repayment term = lower monthly payments
  • Borrowing as often as you wish during a 10-year draw period
  • A low rate which will never increase more than 6% over your initial rate and can only change once a year
  • Convenient access to your HELOC through Online Banking & Mobile Banking, by phone or by check
  • And more!

Home Equity Line of Credit (HELOC)

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Available Terms

20 years

Line of Credit (LOC)

Minimum Loan Amount


Maximum Loan Amount


Up to 90% Loan to Value2

Prepayment Penalties



Recoupment fee if closed in first 2 years3

Annual Fee

Yes, waived first year

Frequently Asked Questions

  • What is a Home Equity Line of Credit Loan?
    • A home equity line of credit is a revolving, variable-rate line of credit secured by your home’s equity/collateral. The amount you borrow is based on the difference between the amount you owe on your home and its market value. You can use the money whenever you need it, with no fixed schedule. If you’re approved, you can draw on what you need, when you need it, and only make payments on the funds you draw.
  • How much can I borrow?
    • DuPage Credit Union offers higher borrowing limits allowing maximum buying power. Calculate the loan amount you may be eligible for (there is a minimum loan amount of $10,000 and a maximum of $1,000,000).
  • How do I draw from my HELOC?
    • To draw from your HELOC, you can:
      • Log into Online Banking or the Mobile Banking App, select the Transfers tab, and transfer money directly to a DuPage Credit Union checking or savings account
      • Use our Automated Phone Banking service
      • Write a HELOC check directly to the person or business of your choosing
  • What is the current rate for a HELOC loan?
    • Click here to view our most up-to-date rates for a Home Equity Line of Credit. Remember: a home equity line of credit rate is based on the Wall Street Journal’s Prime 10 days before the change date. It has a 4% APR floor (that’s the lowest it can go) and a 2% maximum increase per year that will never exceed 6% over your original interest rate.