HELOC - Girl Painting

Home Equity Line of Credit

A HELOC lets you tap into your home’s value for large or unexpected expenses—borrowing up to 90% of your equity.* Use it for home projects, debt consolidation, tuition, travel, and more.

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0% Introductory APR* for the First 3 Months

Then as low as 6.75% APR* after.

Plus, pre-approval in as little as 10 minutes,** and no closing costs!

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HELOC

HELOC
Line of Credit2 APR1 as low as Monthly Payment4
80% LTV Introductory Rate 0%3 1%
80% LTV 6.75% 1%
90% LTV Introductory Rate 0%3 1%
90% LTV 8.75% 1%
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1 APR = Annual Percentage Rate.

2Maximum loan-to-value (LTV) is 80%; additional options may be available up to 90% LTV.

3 Rate effective 02/01/2026. Introductory 0.00% APR for three months. After the introductory period, the APR becomes variable and is based on Prime Rate as published in the Wall Street Journal plus a margin. Based on the current Prime Rate, the post-introductory APR will range from 6.75% to 12.00%, depending on credit qualifications and other factors. Promotion valid on new home equity loans or lines with a minimum $20,000 loan or advance at funding. Existing Kohler Credit Union home equity borrowers within the past 12 months are ineligible. Owner occupied properties only. Closing costs waived excluding appraisal, association fees, flood, and other required insurance. $50 annual fee applies. All loans and lines of credit are subject to credit approval. Some restrictions may apply. Not valid with any other offers. Rates, terms, and conditions are subject to change without notice. Membership required. NMLS ID 400279.

4Monthly payment is 1% of outstanding balance or $100, whichever is greater.

5Ten-minute pre-approval may be available for applicants who meet eligibility criteria. Final approval is not guaranteed and subject to verification and underwriting.

Home Equity Line Of Credit FAQs

The draw period is the length of time (10 years) where you have access to the line of credit funds and may draw on the line. The repayment period (15 years) only takes place if you have a balance left over at the end of the 10 year period. If there is no balance, there is no 15 year repayment period.

A home equity loan is a fixed-term loan given by a lender to a borrower based on the equity in their home. Borrowers apply for a set amount that they need, and if approved, receive that amount in loan proceeds all at once. The home equity loan has a fixed interest rate and a schedule of fixed payments for the term of the loan, so the monthly payment does not change for the term of the loan.

With a home equity line of credit (HELOC) borrowers are allowed to tap into the credit line as needed. The line of credit remains open until its term ends. Because the amount borrowed can change, the borrower’s minimum payment can also change, depending on the credit line’s usage. HELOCs have a variable rate during the draw period, and once that period ends, the loan enters a 15-year repayment phase with a variable rate. During this time, you can no longer make additional draws, but the rate and payment continue to adjust.

A home equity line of credit, or HELOC, is a revolving credit line available to qualified members to use for any large expenses.* It allows members to use the equity in their home as a form of collateral for credit purposes. The borrower is able to make purchases or take out money (to a certain limit), make payments back to the line of credit, and then use the line of credit again in the future when another need arises.

For example, if you own a home and have paid off enough of your mortgage to build up equity, a HELOC could provide you the funds you need to make home improvements, consolidate high interest debt or student loans, pay for a dream vacation or your child’s wedding or college tuition, or practically any other large expense.

The best way to find out the exact requirements for a home equity line of credit is to speak with our knowledgeable HELOC lending specialist. Kohler Credit Union takes several factors into consideration when it comes to lending decisions, included but not limited to credit score, payment history and home value.

 

The advantages of a HELOC are that there are no payments or interest accruing unless you make a withdrawal on the line of credit. Typically, HELOC’s also provide a lower interest rate compared to a personal loan or credit card. They are great to have available for unexpected expenses or to use in emergency situations.

The disadvantages of a HELOC is that the rate is variable during the draw period and can change if the  Prime Rate (as stated in the Wall Street Journal) changes.

Every situation is different and depends on your individual financial needs. Our dedicated lending team will be able to provide guidance if you are unsure whether a home equity loan or home equity line of credit is right for you.

* APR = Annual Percentage Rate. Rate effective 02/01/2026. Introductory 0.00% APR for three months. After the introductory period, the APR becomes variable and is based on Prime Rate as published in the Wall Street Journal plus a margin. Promotion valid on new home equity loans or lines with a minimum $20,000 loan or advance at funding. Existing Kohler Credit Union home equity borrowers within the past 12 months are ineligible. Owner occupied properties only. Closing costs waived excluding appraisal, association fees, flood, and other required insurance. $50 annual fee applies. All loans and lines of credit are subject to credit approval. Some restrictions may apply. Not valid with any other offers. Rates, terms, and conditions are subject to change without notice. Membership required. NMLS ID 400279.

**Ten-minute pre-approval may be available for applicants who meet eligibility criteria. Final approval is not guaranteed and subject to verification and underwriting.