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Home Equity Line of Credit

Draw on the equity you have in your home and get a great introductory rate as you pay for major expenses.

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Home Equity Line of Credit Interest Rate  APR  Points 
Home Equity Line of Credit 4.50% 4.50% 0.0

Each individual's Annual Percentage Rate (APR) is determined by the applicant's credit history. Not all applicants will qualify for the displayed lowest rates. Home Equity Line of Credit: The Introductory Annual Percentage Rate (APR) of 0.99% is for new home equity line of credits only and is for the first 90 days. To receive the Introductory rate, a draw of at least $5,000 must be made within 30 days of account opening. After the introductory rate expires, balances will be charged at the variable APR based upon the Prime rate as published in The Wall Street Journal plus a margin. The APR will never be lower than 3.75% or higher than 18%. Rates vary depending upon credit history, combined loan-to-value (CLTV), and occupancy. The stated rate applies to lines secured by credit score of 740 or greater, CLTV 80% or less, and owner-occupied single-family residences (includes townhomes, row homes, condominiums, and co-ops). Elements Financial will pay most closing costs on new applications including settlement fees, flood determination fee, title search, title insurance, and notary fees. You may be required to pay other closing costs such as government fees and recording charges, taxes, and when required, appraisal fees. Elements Financial reserves the right to modify or end this offer at any time. Subject to credit approval. Elements Financial Membership Required.

Home Equity Line of Credit


  • Introductory rates as low as 0.99% APR on New Home Equity Lines of Credit for 90 days then as low as 4.50% variable APR.
  • Use it for major expenses: home improvements, new car, tuition, big vacation, second home, medical bills, debt consolidation
  • Access your equity simply and easily with the Equity Access Card
  • No closing costs
  • No prepayment penalties
  • No annual fee
  • Most closings in two weeks or less


  • The amount you can borrow is based on the equity you have in your home
  • Access as much or as little as you need whenever you need it—up to the credit limit established at closing


Experienced, helpful loan professionals are ready to support you!


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How Can I Use a Home Equity Line of Credit?

It’s up to you! You can use your Elements Home Equity Line of Credit (HELOC) to finance major expenses, such as:

  • Home improvements
  • A new car
  • Tuition
  • That big vacation
  • A second home
  • Medical bills
  • Debt consolidation


Personal Mortgage Guidance

With an Elements Home Equity Line of Credit, you will get:

    • Experienced mortgage team to support you
    • Direct line of communication to your personal mortgage expert


How It Works

  • A Home Equity Line of Credit, also known as a HELOC, allows you to borrow funds using your home as collateral.
  • The amount you can borrow is based on the equity you have in your home.
  • You can access as much or as little as you need from your HELOC, whenever you need it, up to the credit limit established at closing.
  • HELOC funds can be borrowed during the “draw period” (typically 5 to 25 years) and you pay back the amount drawn plus interest during the “repayment period.”
  • Elements will provide checks and an Equity Access Visa Card that you can use to easily access your HELOC funds and make purchases.

Frequently Asked Questions


Q: Are there closing costs associated with a Home Equity Line of Credit?

A: Possibly, an appraisal fee may be necessary, depending on the value and equity of the loan.


Q: Does Elements Financial offer debt consolidation loans?

A: We do offer consolidation loans for our members to consolidate bills and pay off other debts. There are several options available to most members. This may include Personal Loans, Home Equity Loans, a Home Equity Line of Credit (see information on this page), or even a first mortgage refinance with a debt consolidation option.

How to Get Started


You can apply online in as little as 10 minutes! Or call 1-800-621-2105 to get started.

What you’ll need to apply:

    • Your government-issued ID (driver’s license, state ID or passport)
    • Estimates of your household income, assets, home value and price you paid for your home

What to expect during the application process:

  1. We’ll contact you within 1 business day after you submit your application to review documentation that we’ll need from you and answer questions you may have.
  2. We’ll confirm your home’s value via a basic valuation of your home and collect a few documents from you.
  3. We’ll contact you with a decision within 10 business days and schedule a closing if approved.
  4. That’s it – your Elements Home Equity Line of Credit is now open!

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