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Home Equity Line of Credit

Make yourself comfortable with an Emerald CU home equity line of credit. Rates as low as 3.25% APR, plus a chance to win a $500 Home Depot gift card.

*APR=Annual Percentage Rate. Not all applicants will qualify for the rate shown. The rates for this offer range from a minimum of 3.25% to a maximum of 6.75%, and are based on your credit score at the time of application. This is a variable rate loan. Variable rates are based on Prime Rate, as published by The Wall Street Journal. The maximum rate is 18.00% APR. The maximum LTV is 85%. A sample monthly payment for a $25,000 home equity line of credit at a rate of 3.25% (3.311% Annual Percentage Rate) is approximately $244.63 per month for 120 months. There is a 10-year draw period, and a 10-year repayment period. The property must be owner-occupied. Closing costs are estimated based on the information you provide, and may be subject to change. Consult a tax advisor regarding the deductibility of interest. You must be eligible for membership at Emerald Credit Union and meet the lending guidelines to qualify for a home equity line of credit. All rates, terms, and conditions are subject to change without notice. Offer valid through 09/30/2020.

**No purchase or payment necessary to win. Offer valid 08/01/2020 through 09/30/2020, and is subject to change without notice. Minimum line of credit advance amount to qualify for drawing entry is $25,000. Refinancing a current ECU home equity line of credit does not qualify. Emerald CU employees, board members, or family members thereof are not eligible for drawing. Emerald CU is not affiliated in any way with The Home Depot, Inc. Prize value may be reported on a 1099 form to the IRS as taxable income. Official Drawing Rules and how to enter drawing are available at the Emerald CU branch.

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!

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. Calculate your approximate protected monthly loan payment now.

Your purchase of Emerald Payment Protection is optional is 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.  You may cancel Emerald Payment Protection at any time.  If you cancel Emerald Payment Protection within 30 days you will receive a full refund of any fee paid.