Home Equity Line of Credit

Need a vacation? A bathroom remodel? A car for your teen? It could cost you as little as $100 a month with a Dupaco Home Equity Line of Credit (assumes maximum loan balance of $13,500 amortized over 180 months). Calculate your payments using our calculator.

Apply

*The rebate will be 1% of the total amount advanced during the first 30 days after the account is opened at Dupaco, with a maximum cash back of $300.  Subject to loan approval. Cash back will be paid within 45 days of account open date. Cash back may be reportable on IRS form 1099-MISC. Member is responsible for any and all taxes. Total amount advanced during the first 30 days must be at least $5,000. Offer not valid for advances used to pay off existing Dupaco debt.

What is equity in a home?

Equity is the difference between the appraised value of your home and what you owe on your mortgage. Equity is the part of your home’s value that belongs to you, not your lender. Calculate your equity. You can borrow against the equity in your home and use the money for whatever you choose—home improvements, new car, school, paying down credit cards, or, send yourself on a vacation!

Apply for a home equity line of credit now, or contact our Consumer Loan Department at (563) 557-7600 / 800-373-7600, ext. 202, or loans@dupaco.com.

 

Home Equity Rates

Current as of: 9/19/2018
Loan Program Annual Percentage Rate
Home Equity Prime Cut Rate 4.50% APR1
1Home Equity Intro Rate: The 2.99% introductory Annual Percentage Rate (APR) is for qualified members with a credit score of 675 or above who open a new Home Equity Line of Credit. The 2.99% introductory APR expires 180 days after the date the account is opened, at which time the APR will increase to the non-discount variable rate ranging from 4.25-4.75% APR, based on credit score and combined loan-to-value (total mortgage balances divided by the total value of the house) as determined at time of account opening. If member does not qualify for the 2.99% introductory APR, then the applicable APR is a variable rate ranging from 7.00% to 10.00% based on credit score. Introductory APR is accurate as of 4/1/2018 and is subject to change. Home Equity Loans require a minimum $10,000 line of credit and a combined loan-to-value of 85% CLTV or less. Closing costs paid by the credit union to a maximum of $350. There are no application, annual, maintenance or transaction fees associated with this account; however, Lender may recover origination charges if loan is closed within 30 months of opening. Consult your tax advisor regarding the deductibility of interest. Property insurance required. This offer is good for a limited time only. This offer is not transferable and may not be used in conjunction with any other discounts, offers or coupons. Rate requires Dupaco membership. Account opening subject to qualification and approval. You must live or work in Dupaco's charter area to be eligible for membership.
2Home Equity Rate: Rate based on qualification. Minimum $10,000 line of credit required on loan-to-value less than 75% with $5,000 initial minimum advance. The annual percentage rate (APR) may vary after the account is opened. Maximum APR 21%. The rate will be the Prime Rate as published in The Wall Street Journal on the last business day of each calendar month, plus an index with a floor rate of 4.00% (if applicable). The current fully indexed rate is 4.75% APR. Closing costs paid by the credit union to a maximum of $350. There are no annual fees; however, Lender may recover origination charges if line is closed within 30 months of opening. Consult your tax advisor concerning the deductibility of interest. Property insurance required.

   
Comments (5)
Increase HELOC available amount!
John
 • 113 days 1 hr 51 mins 33 secs ago
How much does it cost to increase amount available in my current HELOC? My 1st mortgage has decreased considerably since I redid my HELOC.
 

Re: Increase HELOC available amount!
Dupaco Moderator
 • 113 days 1 hr 47 mins 9 secs ago

Hi John, we will have a lender reach out to you. Thanks!

 

Increase HELOC available amount!
John
 • 113 days 1 hr 51 mins 33 secs ago
How much does it cost to increase amount available in my current HELOC? My 1st mortgage has decreased considerably since I redid my HELOC.
 

Re: Increase HELOC available amount!
Dupaco Moderator
 • 113 days 1 hr 47 mins 9 secs ago

Hi John, we will have a lender reach out to you. Thanks!

 

Link repetition
Dave
 • 522 days 14 hrs 35 mins 15 secs ago
The first two links in your parenthetical material on theis Home Equity Line of Credit page are the same. I was looking for the calculator.
 

Re: Link repetition
Dupaco Moderator
 • 520 days 7 hrs 1 min 47 secs ago

Hi Dave, Thanks for letting us know! The link has been updated to the correct one.

 

Closing Cost
Stacy
 • 791 days 23 hrs 47 mins 18 secs ago
What are the closing cost on a heloc loan?
 

Re: Closing Cost
Dupaco Moderator
 • 791 days 6 hrs 49 mins 4 secs ago

Hi Stacy, as long as the Home Equity Loan is larger than $10k, Dupaco pays closing costs up to $350. Anything over that amount is paid by the member.

 

rates
Jeni
 • 1281 days 5 hrs 6 mins 56 secs ago
I understand interest rates may go up this year. I'd like to have the HELOC and mortgage rates emailed to me regularly so I can monitor them. Is this possible?
 

Re: rates
Dupaco Moderator
 • 1279 days 6 hrs 36 mins 3 secs ago

Rates for HELOC are not available as a daily email, however, mortgage rates are. Go to the Mortgage section of our website, click on rates. You'll need to fill out the short form allowing us to better target the type of property you'd be interested in buying, and then the current rates will show. From the page that display the rates targeted to your desired loan, you'll be able to click Rate Watch and set up your automatic rates email.

 

trying to get a house loan
tammie phipps
 • 1355 days 1 hr 12 mins 22 secs ago
What does my score need to be in order to get a loan for a house? I have been approved to build a house from the ground up- trying to see what I need to do to get started...
 

Re: trying to get a house loan
Dupaco Moderator
 • 1353 days 1 hr 20 mins 57 secs ago

Tammie, Typically the borrower's term must be at least a 620. However, based on the other variables of the application, they could require the score to be even higher.

 

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