Home Equity Credit give you access to your home’s equity for home repairs, debt consolidation, tuition and more. Rates are variable. Members may finance up to 95% of their home’s appraised value, minus any other liens. ESCU has flexible terms and low fees. There is a 5 year draw period on the credit line during which the member may withdraw the available loan proceeds. There are no pre-payment penalties with the loan product, so there is no penalty for paying off early or not using the credit line. Payments are based on a 10 year term – fully amortized. Members applying will receive current rate information from the Loan Officer. To apply for a Home Equity Credit Line, contact an ESCU Loan Officer.