Unlock Your Home's Equity
Introduction
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 loan, 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 connect with a representative to take the next step. We're available at your local branch or over the phone at 800.242.2120.
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.