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Home Equity Line of Credit

Roll into a home equity line of credit! Rates as low as 3.25% APR.

Put the equity in your home to better use with a Home Equity Line of Credit (HELOC) from Emerald CU. Our HELOC offers a 10-year draw period and a 10-year repayment period, with no annual fee. We will lend up to 85% of the appraised value in your home, minus the balance of your first mortgage (if applicable). We invite you to take advantage of low rates, affordable payments, buying power, and peace of mind. An Emerald CU HELOC may be used for many reasons, including:

  • Home renovations, repairs, or improvements
  • Debt consolidation
  • College expenses - tuition, books, room and board
  • Have money standing by when you need it

The following is an example of how to calculate the amount of available equity in your home:


Appraised Value of Home
Appraised Value of Home X 85%  
Subtract Current Mortgage Balance
Available Equity in Home


Contact a Loan Officer at 216-581-5581 to learn more and get your application started today!

*APR=Annual Percentage Rate. Rates are variable and based on Prime Rate as published by the Wall Street Journal, and subject to change. Rates are as low as and based on evaluation of credit history. Your rate may differ. To qualify for 3.25% APR, your credit score must be 730 or greater. A sample monthly payment for a $25,000 Home Equity Line of Credit (HELOC) at an APR of 3.25% is approximately $244.63 per month for 120 months. The plan has a maximum rate of 18.00%. The maximum LTV is 85%. The plan has a 10-year draw period, and a 10-year repayment period. The information provided does not constitute a loan commitment. Please refer to Fee Schedule for closing costs. Consult a tax advisor for the deductibility of interest. All rates, terms, and conditions are subject to change without notice.

Loans FAQs

Light Bulb Financial Wellness Tip: Weekly, bi-weekly, or semi-monthly payroll deduction payments will reduce the total amount of interest paid over the life of the loan. Contact a Loan Officer to learn more.

Emerald Payment Protection

Lessen the worry of repaying your loan during a time when your income may be reduced or lost due to death, disability from an injury or illness, family leave or involuntary unemployment.  Give yourself peace of mind knowing that your loved ones won’t be left with the burden of your debt.  Emerald Payment Protection may be added to any new or existing loan.

Your purchase of Debt Protection is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions and exclusions may apply. Please contact your loan representative or refer to the Member Agreement for a full explanation of the terms of Debt Protection. You may cancel the protection at any time. If you cancel protection within 30 days, you will receive a full refund of any fee paid.