0% HELOC Makes It Happen

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. 

Short answer: Just about anything! Homeowners typically use their HELOCs to pay for big expenses like home renovation projects, college costs, weddings, vacations and more. HELOCS can also be used to consolidate high interest debt so borrowers can save on their monthly expenses. Others simply like the peace-of-mind that comes with knowing they have a source of cash if a large, unexpected expense comes up.

When you borrow from your home’s equity responsibly, you can benefit from lower rates and more favorable terms than other loan types, in addition to potential tax advantages. Consult your tax advisor.

However, since home equity lines of credit are secured against the value of your home, missing payments could lead to serious consequences such as foreclosure and credit damage - the same as if you don't make your mortgage payments.

The bottom line: approach your HELOC as you would any other type of loan: you should have a reason for borrowing and a plan for how you'll pay it off.

Yes, because your HELOC is an adjustable-rate loan interest rates could vary from month-to-month. We’ll notify you 15 days before a rate change so you can be prepared.

However, you also have the option to lock in a fixed rate³ up to five times during the draw period of your loan for more predictable monthly payments.

Not at UW Credit Union. Our local lending experts make applying for your HELOC as easy as 1-2-3. Just get your personalized rate, choose your loan and apply. You can do the process completely online or stop in your nearest branch to talk with us in person.