Home Equity Line of Credit (HELOC)
Years of timely mortgage payments have done more than give you a roof over your head — they’ve also given you the chance to use your home’s equity as collateral for flexible financing! Fund whatever you need, from home remodels to debt consolidation — at affordable rates.
Expect repayment terms that work for your lifestyle and friendly service from local people you can trust. Go ahead — get that home working for you!
HOME EQUITY LINE OF CREDIT (HELOC)
Details:
- Competitive rates for several ongoing or seasonal needs:
- Education expenses
- Major life events
- Major home improvements
- Debt consolidation
- Emergency reserve
- And much more!
- Variable and fixed rate options available
- Low closing costs
- Generous credit lines based on your home’s value
- Accommodating repayment terms that work uniquely for you
- Funds available anytime without reapplying; apply once, then use repeatedly thereafter
- Revolving credit — as principal is repaid, more becomes available for use
- 5-year draw period
- Funds easily available via in-person, online banking, or phone transfers to a specified Northern Skies FCU checking account
- The interest paid might be tax deductible*
- Set up automatic payments to be deducted from your account monthly
- Local decision-making and processing right here in Anchorage
- Attentive, friendly service from start to finish
MINI HOME EQUITY LINE OF CREDIT (MINI HELOC)
Borrow up to $15,000.00 without any equity in your residence. Closing costs are minimal and since this is a revolving credit line, it can be used over and over again for up to five years.
Details:
- Access funds easily
- Low closing costs
- Use it as you need it
- 5-year draw period
- Competitive variable interest that's only charged on what you use
- Interest payments may be tax deductible*
- Pay it off and use it again
- No need to re-apply
Borrow up to $15,000 without any equity in your residence. Closing costs are minimal and since this is a revolving credit line, it can be used over and over again for up to five years.
Details:
- Access funds easily for a wide variety of needs
- Competitive variable interest that's only charged on what you use
- Low closing costs
- Interest payments may be tax deductible*
- Accommodating repayment terms that work uniquely for you
- Funds available anytime without reapplying; apply once, then use repeatedly thereafter
- Revolving credit – as principal is repaid, more becomes available for use
- 5-year draw period
- Local decision-making and processing right here in Anchorage
- Attentive, friendly service from start to finish
Looking to lock in at a low-rate? Our Fixed Rate loan option may be just right for you.
Details:
- Based on home's equity
- Use funds for most anything
- Competitive fixed rate
- Flexible terms
- Interest payments may be tax deductible*
- Personal service
- Local decisions
- Quick approvals
- Easy to apply
Resources:
*Consult a tax advisor.
A member must be 18 years of age or more to be granted a loan.
Northern Skies is an Equal Housing Lender.