SPECIAL OFFER: NO CLOSING COSTS*
Introduction
Apply now and you could pay no closing costs if you open a new Home Equity Line of Credit (HELOC) with an initial advance of $25,000 or more! But don't wait – this offer is only available for a limited time.
Get started today with our online application or speak with an expert at your local branch. Fixed rate loan option is also available.**
Unlock Your Home's Equity
Home improvements, tuition, even an epic vacation – imagine all the things that your home could do for you.
While homeownership comes with a significant cost, it's also the best investment you can make. A HELOC is your return on that investment, using your home's equity to put cash on hand for whatever you want, whenever you need it.
Unlike a traditional home equity, think of a home equity line of credit like a credit card – you only take and pay interest on what you use. You might even be able to borrow up to 100% of your home's equity, offering you flexibility you can't get anywhere else.
Frequently Asked Questions
How does a home equity line of credit work?
You've worked to build equity in your home. It's an investment, and a home equity line of credit can be the return.
A home equity line of credit tends to have lower rates than other loans because the value you've built in your home acts as security. And the interest you pay on many home equity loans is tax-deductible, helping you save twice.
How much credit can I get with my HELOC?
You can get up to 100% of your home’s equity. That’s the assessed value of your home minus what you’ve paid on your first mortgage.
For example, a home valued at $150,000 with $75,000 remaining on the mortgage would yield a credit line of up to $75,000. You only pay interest on what you use. Click here for the current rates.
How can I calculate my equity?
Use the calculator at the bottom of the page – it's easy!
What will I need for my application?
It's easier than you think! Just gather Proof of Ownership and Proof of Income:
PROOF OF OWNERSHIP
Qualified proof required, such as the deed to your property.
PROOF OF INCOME
Traditional employment income:
• Two years W2s
• 30 days paystubs
Self-employment income:
• Two years signed tax returns
Retirement income:
• Two years 1099s
Rental property income:
• Two years signed tax returns
...and that's all you need to get started with your application!
As a homeowner, you made a wise investment. Apply online or schedule an appointment to take the next step.
What else should I know?
Your Home Equity Line of Credit may also qualify for Debt Protection. Add it to your loan during the application process or contact us at 800.242.2120 to request changes to your coverage. Learn more about Debt Protection.
What are the Eligible Lending Counties or Geographic Boundaries?
Visions can lend to the following areas if a person qualifies for membership:
New Jersey:
Bergen, Essex, Hudson, Hunterdon, Monmouth, Middlesex, Morris, Passaic, Somerset, Sussex, Warren, and Union
New York:
Broome, Cayuga, Chemung, Chenango, Cortland, Delaware, Dutchess, Jefferson, Livingston, Madison, Monroe, Oneida, Onondaga, Ontario, Orange, Orleans, Oswego, Otsego, Rockland, Schuyler, Seneca, Steuben, Tioga, Tompkins, Wayne, Westchester, Wyoming, and Yates.
Pennsylvania:
Berks, Bradford, Carbon, Chester, Cumberland, Dauphin, Lancaster, Lebanon, Lehigh, Monroe, Montgomery, Northampton, Pike, Schuylkill, Susquehanna, Tioga, Wyoming, and York.
Additional Information
*NO CLOSING COSTS:
APR = Annual Percentage Rate. Rate and terms are available on new home equity lines only. Credit union membership required with a $1 minimum deposit; restrictions apply, ask for details. Property must be owner-occupied. Maximum line amount is $500,000 with a CLTV up to 80% of appraised value minus a first mortgage. Maximum line amount is $250,000 for lines with a CLTV of 80.01%-100% of appraised value minus a first mortgage. APR is Prime -.25% with a minimum rate of 3.00% and a maximum rate of 15.80% APR. As of 08/15/2024, the rate was 8.25% APR; visit visionsfcu.org/rates for current rate information. Minimum advance of $25,000 in new money required for the waiving of closing costs; existing Visions loan balances do not qualify toward minimum advance. Estimated savings of closing costs, which varies by geographic market and property, generally total between $625 and $4875, including, but not limited to, the following costs: Automated Valuation Method (AVM), flood determination, credit report, lender attorney fees, recording fee, title insurance, mortgage tax, and title insurance (if applicable). Borrowers may be responsible for appraisal cost, initial escrow setup, and tax service fee, if applicable. Property insurance is required. Flood insurance may be required. Offer valid 09/01/2024 and is subject to change or expire without notice. Equal Housing Lender. Insured by NCUA.
**Fixed Rate Home Equity Loan:
APR = Annual Percentage Rate. Rate and terms are available on new loans only. Credit union membership required with a $1 minimum deposit; restrictions apply, ask for details. Property must be owner-occupied and in second lien position. Maximum loan amount is $500,000 with a CLTV up to 80% of appraised value minus a first mortgage; maximum loan amount is $250,000 for loans with a CLTV of 80.01%-90% of appraised value minus a first mortgage. As of 09/1/2024, the rate was 6.75% APR; visit visionsfcu.org/rates for current rate information. Minimum amount of $5,000. You may be required to pay certain fees to third parties. The fees generally total between $625 and $4875. Property insurance is required. Flood insurance may be required. Federally insured by NCUA. Equal Housing Lender.
