Home Equity Loans and Home Equity Lines of Credit
Unlock the equity you’ve built in your home and let it work for you!
Home Equity Loan vs. Home Equity Line of Credit (HELOC)
Your unique situation determines the best loan type for your needs, and Sun East is here to help you review your options.
Before I got the loan—the HELOC loan—I was facing insurmountable debt. My electric was being threatened to be shut off; the water. My husband had lost his business due to the COVID shutdowns. I was in a bad car accident, so money was tight. It was very tight, and this loan gave me the ability to pay off my debt and have a reasonable payment each month that I could afford. So, it gave me breathing room.
Kathleen T.
Did you know you can leverage a HELOC to manage your debt?
Meet Kathleen, a member of Sun East. When asked, “How are you?” by Ash at our Springfield Branch, Kathleen replied with “You don’t want to know.” The two started talking an Ash quickly learned how piling bills was impacting Kathleen’s life and he set a solution in motion to get Kathleen a HELOC to consolidate her debt.
At Sun East, we’re here to help you find smart financial solutions tailored to your needs.
See more of Kathleen’s story
What to Know About Home Equity Lines of Credit
If you’re looking for credit, consider a Home Equity Loan or Home Equity Line of Credit. It’s important to thoroughly consider the costs and benefits before making a decision and take the time to find the credit terms that suit your borrowing needs while minimizing any financial risks. A Home Equity Loan or Home Equity Line of Credit might be a great option for you.
Choose the Loan That’s Right for You
There are distinct differences between a Home Equity Loan and a HELOC. Understanding the features of each will help you make an educated decision.
Home Equity Loan
A Home Equity Loan has a fixed rate, and the funds are disbursed in one lump sum with flexible repayment terms of up to 20 years.
- LTV up to 90%
- A .25% rate discount** with automatic payment transfer from your Sun East Checking Account
- Interest may be tax deductible3
Home Equity Line of Credit (HELOC)
A HELOC has a six-month, low introductory rate and a go-to variable rate that allows you to use the equity in your home on an as-needed basis. You can draw on the line, much like a credit card, at your own pace.
- 4.99% APR2 introductory fixed rate for the first 6 months
- LTV up to 90%
- Terms up to 20 years
- Interest may be tax deductible3
- Unlimited number of draws
Frequently Asked Questions from Home Equity Loan and HELOC Borrowers
Disclaimers
2APR = Annual Percentage Rate; effective 9/18/2025 and subject to change without notice. 4.99% APR intro rate for six months; after intro period, APR as low as 6.25%. Loan rates are determined by member’s creditworthiness as well as other factors including term of the loan, and lien position. Top tier rates listed are available to highly credit-qualified individuals.
3Conditions and restrictions may apply; consult Tax Advisor for eligibility details. Sun East Federal Credit Union provides its members with affordable home financing options in accordance with the Federal Fair Housing Act and the Equal Credit Opportunity Act, and required state and federal guidelines. Sun East Federal Credit Union, NMLS#433893, is an equal opportunity lender. Limited time offer. All rates/terms subject to change without notice; other terms and conditions may apply. Call 877-5-SUNEAST x751 for details.
** .25% discount for Automatic Payment Transfer from Sun East checking. If at any time, Automatic Payment Transfer is discontinued then rate discount will be discontinued.
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