Home Equity - HELOC

Have you been dreaming of home renovations, or thinking about using your equity to pay down debts? Industrial has Home Equity Loans and Home Equity Lines of Credit (HELOC) that allow you to use the equity you’ve built in your home to bring your projects and dreams to life.

Home Equity Loan Highlights
  • Your loan stays at the Credit Union, we don’t sell our servicing
  • Finance up to 80% of the appraised value of your home
  • No application fee
  • No prepayment/payoff penalty
Home Equity Line of Credit (HELOC) Highlights
  • Your loan stays at the Credit Union, we don’t sell our servicing
  • 10 year draw period, followed by 20 year repayment period
  • Low variable rate
  • Only pay when you use the money
  • No application fee
  • No prepayment/payoff penalty
  • Choose your payment structure during the draw period: Interest-only or Traditional (principal + interest)

Click here to compare options with our Mortgage calculators.

_**Annual Percentage Rate (APR).* Estimated. Expresses the total cost of the loan, including both the interest rate and applicable up-front fees, as a rate.

Payment Example HELOC: For example: if you take out a $50,000 loan with a 20-year term and a fixed rate of 8.000%, you would make monthly payments of $418.22. This payment example does not include taxes and insurance. Calculation based on an immediate one-time draw of $50,000, fees as noted, and other up-front-fees (appraisal, title, origination, etc.) of $750. Assumes fees are financed. Assumes no delay in funding nor any delay in initial payments.

Payment Example Home Equity Fixed: For example: if you take out a $450,000 loan with a 15-year term and a fixed rate of 8.000%, you would make monthly payments of $4,300.43. *This payment example does not include taxes and insurance.
Property Status Rate APR*
Owner Occupied HELOC 7.250% – 8.750%, varies with Prime 7.380% – 8.888%
Non-Owner Occupied HELOC 7.250% – 10.250%, varies with Prime 7.510% – 10.543%
Home Equity 7.750% – 9.500%, fixed rate 8.077% – 9.844%