Home Equity Loans & Lines of Credit

Use the equity in your home to access funds for a planned or unexpected expenses.   A JHFCU Home Equity Loan or Line of Credit can be used for home improvement, tuition, a vehicle, or to pay off high-rate/balance credit card bills. 

Home Equity Lines of Credit

The Home Equity Line of Credit (HELOC) is a revolving line of credit that you set up and use as needed.  You can pay down the balance and use the line again and again. It is a great option for potential emergencies you may encounter – e.g. a broken furnace or damaged roof.

Choose from three great options:

  • A standard line with a rate as low as Prime+0%APR.*
  • A low-equity line that allows you to borrow up to 90% of your home’s equity
  • Jumbo Equity line that allows you to borrow $150,000 and greater
  • Access your home equity line via Online Banking, TeleBranch 24, or in person. 

Plus enjoy a low monthly payment equal to .75% of your outstanding balance as of the last date of the prior month. 

Fixed-Rate Home Equity Loans

With a Home Equity Loan, you benefit from the stability of a fixed interest rate. You will receive the proceeds of the loan at settlement and can start using it for purchases right away.  Our Home Equity Loan also features:

  • Choice of terms from 5 years up to 15 years.
  • Our lowest rate 80% LTV option, or select a 90% LTV or 100% LTV option if you do not have a lot of equity.**
  • Jumbo Home Equity loans are also available.

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*Rates are determined by an evaluation of the applicant’s credit, loan term and loan-to-value (LTV). Minimum down payment of 5% required. Payments do not include amounts for taxes, insurance premiums or private mortgage insurance (PMI) , if applicable, actual payment obligation will be greater. Property and flood insurance may be required. Other restrictions may apply. 


With JHFCU Home Equity Lines and Home Equity Loans you also benefit from:

  1. No Closing Costs.***
  2. Easy repayment – You can transfer your payment from your JHFCU Savings, Checking or Money Market account via Online Banking or our Mobile App.Since your payment due amount changes based on the usage of your line.
  3. The option to use a Home Equity Line or Loan for our 80/10/10 First Mortgage and avoid Private Mortgage Insurance.

Applying for a Home Equity Line or Loan

You can log into Online Banking to apply for both loans.  Once submitted, JHFCU will obtain a credit report and electronic appraisal of your property.  Next an approved amount is determined and you will be contacted by a JHFCU represented about the rest of the process.   You may need to supply the following documents:

  • Signed Commitment Package
  • Proof of Income
  • Payoff statement from other lender, if you are using the JHFCU Home Equity to pay off another Home Equity Loan or First Mortgage (or if you are paying off a credit card, or buying a vehicle with the proceeds, we need payee information)

Once the documents are returned and the loan is approved you will go to settlement (in person at JHFCU’s East Baltimore branch).  At settlement, you will need to provide proof of homeowners insurance and need to contact your homeowners insurance company and request that JHFCU be added to your policy and that they send a copy of your policy to JHFCU showing us as a mortgage holder. The whole process typically takes under 2 weeks, and includes the required 3-day Right of Rescission after settlement. 

*Rates can change monthly and are based on the Prime Rate as published in the Wall Street Journal on the 25th of the month. See our current rates.
**LTV = Loan to value.
***The closing costs will be added back to the loan payoff balance if the loan is paid off within the first three years and are only paid by JHFCU one time per property. 
APR=Annual Percentage Rate. Subject to a floor rate. Maximum rate is 18% APR.