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Self-Help Credit Union

Home Equity Line-of-Credit

What is Home Equity and How Can it Help You?

Equity is the difference between your home’s value and the unpaid amount you still owe. In other words, equity is the dollar value of the portion of your home you own without debt. Equity is wealth that can be used to help obtain loans to fund large expenses.

Do You Qualify for a Home Equity Loan?

Home equity financing allows you to convert home equity to cash. This can give you access to money for home repairs, debt consolidation and large, unexpected expenses. The amount you can borrow is based on your credit history and your home's appraised value. Here are some of the guidelines for homes that qualify:

  • Owner-occupied,1-4 family residential properties
  • The home must be in California, Illinois, Washington or Wisconsin
  • Up to 80% loan to value, minus 1st mortgage balance
  • Max credit limit of $250,000
*Product availability may vary by location.
Home Equity Loans


  • Variable interest rate
  • Terms up to 20 years
  • Available funds can be accessed any time during your draw period
  • No prepayment penalties