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Home Equity

Our Home Equity Plan includes a home equity line of credit, with options for fixed loans and a convenient credit card in one handy package.

Lines of Credit

  • Borrow as often as you like, up to your approved limit. As you pay down the balance, your available credit increases.
  • Take any portion of your line, convert it to a fixed rate advance and choose your repayment term...no application needed.
  • Interest-only payment option available.

Fixed Rate Advances

  • Get the security of fixed payments by converting any or all of your line into a fixed rate advance.
  • Get up to three fixed rate advances at a time.
  • Each advance works like an installment loan with fixed payments for the term you choose.
  • Fix your rate anytime without an application.

Credit Cards

  • Convert a portion of your equity into a Platinum credit card.
  • Get the same great low rate you enjoy on your line of credit.

No Application Fees

No Minimum Draw Requirements

No Closing Costs*


*If you terminate your line within the first 24 months after closing, you will be responsible for closing costs.
Please refer to the Closing Cost Addendum you received at loan closing for the total amount of your closing costs.

Contact Us

Complete the form below and a member of our team will contact you and answer your home equity questions. You can also visit any branch location or call us at 800-656-4328.






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FAQs

What is a Home Equity Advantage Plan?

Do I need an appraisal to get a Home Equity?

What are the closing costs with a Home Equity?

Home Equity Rates

Table data for Home Equity 3 in 1 Advantage Plan
 Rates effective 11-11-2019
Line of Credit and MasterCard Platinum Credit Card APR1 Payment per $1,0002 Alert Me
To 75% LTV (Prime - 1/2%) 4.25% Varies Receive a notification when this rate changes
76% to 85% LTV (Prime + 1/2%) 5.25% Varies Receive a notification when this rate changes
Over 85% LTV (Prime + 1 1/2%) 6.25% Varies Receive a notification when this rate changes
Fixed Rate Advance - To 75% LTV Alert Me
Up to 5 years 4.49% $18.64 Receive a notification when this rate changes
5 to 10 years 4.99% $10.60 Receive a notification when this rate changes
10 to 15 years 5.24% $8.03 Receive a notification when this rate changes
15 to 20 years 5.99% $7.16 Receive a notification when this rate changes
Fixed Rate Advance - 76% to 85% LTV Alert Me
Up to 5 years 4.74% $18.75 Receive a notification when this rate changes
5 to 10 years 5.24% $10.72 Receive a notification when this rate changes
10 to 15 years 5.49% $8.17 Receive a notification when this rate changes
15 to 20 years 6.24% $7.30 Receive a notification when this rate changes
Fixed Rate Advance - Over 85% LTV Alert Me
Up to 5 years 4.99% $18.87 Receive a notification when this rate changes
5 to 10 years 5.49% $10.85 Receive a notification when this rate changes
10 to 15 years 5.74% $8.30 Receive a notification when this rate changes
15 to 20 years 6.49% $7.02 Receive a notification when this rate changes
Apply for a Home Equity Receive a notification when this rate changes
Contact Member Services at 800-656-4328 for rate details. Hanscom FCU offers Home Equity Plans on primary residences to our members nationwide, with the exception of Texas, Alaska, Hawaii, and New York.

The plan allows up to three fixed rate advances from your line at any given time during the 10 year draw period. If you terminate your line within the first 24 months after closing, you will be responsible for closing costs. These costs generally range from $400-$700. Closing costs do not include any taxes (if necessary). Interest begins accruing upon loan disbursal. Check with your tax adviser about tax deductibility of interest. Homeowners insurance is required. Total Mortgages/Property Value = LTV. Maximum allowed CLTV may vary by state.
  • 1APR=Annual Percentage Rate. Rates shown are the lowest possible rates currently offered. Other rates are available, based on your credit profile and loan terms.
  • 2Repayment amounts will vary depending on the term. This example is estimated for the maximum term.

Real Reviews from Real Hanscom FCU Members

Good assistance from your staff overall.

4

My wife and I have been Hanscom members for several years and had several loans approved. However, your internal information sharing process could be improved. During the loan application process I was required to provide information or explain facts that should have been available to your staff by looking at our account information and loan history.

Westchester, Illinois

true

Fees

2

Fees never disclosed until closing. Much higher that other offers I reviewed. Issues with first payment on autodebit that have not been addressed.

Oak lawn IL

false

Excellent Customer Service

5

The staff were extremely helpful and knowledgeable. Megala ensured that I received the best rate and terms for my loan.

VA Brockton

true

great bank, thank you!

4

thank you, loan process was super easy and fast, thank you!

fremont, ca

true

Great Experience!

5

Excellent service! I have taken out several loans throughout the years and am always happy with the results. I would definitely recommend their services.

Hyannis, Ma.

true

Excellent staff and customer service

5

Great service and great rates

Melrose mass

I am very pleased with the whole process. My agent was aweso

5

My agent was awesome, she was friendly/kind. It wasn't like business.

Hanscom AFB

true

What an AMAZING, EASY experience

5

I worked with Lucy B. who provided outstanding service, kept us updated throughout the process and was always available to answer questions. She went out of her way to provide us with a great product, worked with us to close at a location convenient to us and was professional and courteous at every turn. My loan was closed within a couple of weeks and we coudn't be happier!

Mansfield MA

true

Couldn't be easier!

5

The entire team at Hanscom was great to work with - clear, quick communication, without the hassle of the big commercial banks. Highly recommend.

Boston, MA

true

NICELY DONE !

5

VERY HAPPY WITH THE WHOLE PROCESS ! Jennifer Godin explained everything very well and knows her field without flaw!

MASS

true

Home Equity Reviews

4.8 225

96.7