Traditional HELOCs | RIZE Credit Union

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Home » Home Value Loans » Traditional HELOCs

A Traditional Home Equity Line of Credit (HELOC) allows you to access your home’s equity with flexibility and convenience. Whether you’re looking to renovate your kitchen, fund your child’s education, or consolidate debt, a HELOC offers the flexibility and financial freedom you need. Embrace the possibilities and take control of your future today with this smart and accessible financial tool.

Here’s what you need to know:

Flexible access to funds: A Traditional HELOC functions like a revolving credit line, allowing you to borrow as needed up to your approved credit limit during the draw period.
Draw period: The draw period is the time in which you can borrow, repay, and reborrow funds. After the draw period, the HELOC enters the repayment period, where you’ll make payments on both the principal and interest.
Repayment period: After the draw period, the HELOC enters the repayment period, where you’ll make payments on both the principal and interest.

Loan features

Variable-rate loans, from $25,000 to $500,000¹
Owner occupied LTV up to 80%
Non-owner occupied LTV up to 70%
10-year draw period
10-year repayment period
No prepayment penalty
Loan rates

¹Rates are based on the Prime Rate and creditworthiness at the time of loan approval. Visit our loan rates page for estimated monthly payments and additional fees.

What you should know about HELOCs

Traditional HELOC Disclosures