Zero in on a HELOC

With a HELOC you can borrow up to 100% of your home’s equity as a line of credit. It works a lot like a credit card, making it a convenient option for handling unexpected or large expenses. You just borrow what you need when you need it, until you reach your credit limit, just like a credit card. 

There are several easy ways to access the funds in your line of credit.

• Transfer funds from your line of credit to another UW Credit Union account directly from Web Branch.
• Visit a branch to get a cashier’s check.
• Request checks for your home equity line of credit.

The introductory rate on the home equity line of credit begins as soon as you have access to the line of credit. Typically, this is three business days after your loan closing. The duration of your introductory rate will depend on the specific details of your HELOC offer. After that, any balances will be at the standard rate which is indexed to The Wall Street Journal Prime Rate.

The APR is subject to change monthly but cannot exceed 18%. APRs on the home equity line of credit also have a floor rate, depending on the product type.