Home Equity Lines of Credit

Open a HELOC that you can use over and over.

When you apply for a HELOC, you get a credit limit, and you can borrow up to that amount. As you pay your balance down, you can borrow again, similar to a credit card.

RATES AS LOW AS 3.35% APR^{^♦}

FIXED RATEFOR FIRST 5 OR 10 YEARS

EASY ACCESSTO YOUR MONEY

Product Details

An Initial Fixed Rate

Most HELOCs have a variable rate for the life of the loan, but Veridian's HELOCs offer a fixed rate that will not change for the first 5 or 10 years. That gives you more confidence and stability for the future.

A Renewable Resource

You can pay down your HELOC and borrow up to your limit again and again, similar to a credit card. Save more on all sorts of purchases over your 25-year term.

Move Money Instantly

You can access your HELOC through online banking and our mobile app. Simply make transfers from your HELOC to your savings or checking accounts when you need to draw from it.

Borrow What You Need

Get up to 100% of the value of your equity. Please note that rates increase once your loan-to-value ratio goes over 80%.

APPLY NOW FOR YOUR HELOC

Have questions or want help applying?

Schedule an appointment with our team.

This loan may be a good fit for you if:

You have equity in your home.
You're doing DIY or other projects with expenses over time.
You like the security of a line of credit you can borrow from.
You want to use your credit over and over again, like a credit card.

GET A HOME EQUITY LINE OF CREDIT

Compare Home Equity Loans

Meet with a Home Equity Expert

Rates, Terms & Payment Examples

Apply For a Heloc

Calculate Your Estimated Minimum Monthly HELOC Payment

Your monthly payment is determined by the funds you access/balance you carry. Use the slider to estimate a minimum monthly payment based on your balance.

$ Your Equity Your Equity	5 Year Fixed Rate(60 Month)	10 Year Fixed Rate(120 Month)
APR as low as^{^♦}	3.60%	4.25%
Loyalty APR as low as^{^♦}	3.35%	4.00%
Payment Example$50 or 1% of your balance, whichever is greater	$###	$###
Total term	25 years (300 months)	25 years (300 months)

Getting a Home Equity Line of Credit

STEP 1:
Apply Online in Minutes

Fill out the application and submit your documents.

STEP 2:
Close Your Loan

Sign final loan documents with standard closing costs of around $275.

STEP 3:
Start Spending

You’ll receive access to your line of credit and can start drawing from it.

Apply now for your home equity line of credit

Frequently Asked Questions

What's the minimum payment for a HELOC?

Your minimum payment is either 1% of your balance or $50, whichever is greater.

Are there limits to how much I can draw from my HELOC at one time?

You can draw up to your credit limit. There are no special rules about increments or daily limits.

What's the difference between a line of credit and a closed-end loan?

A line of credit is like a credit card: You receive a credit limit, or a maximum amount that you can borrow. You only pay interest on what you’ve spent and haven’t paid off, and you can borrow up to your limit again and again as you pay down your balance. Your monthly payments will vary depending on your current balance.

With closed-end loans, you receive a set amount of money that you repay in roughly equal installments over a defined term.

How do I estimate my equity and my loan-to-value ratio?

To estimate your equity, take the value of your home and subtract the balance on your mortgage and other liens, if any. To find your loan-to-value ratio, divide the total amount you owe on your home by its value. For example, if your home is appraised at $200,000 and you owe $50,000 on your mortgage, you have $150,000 of equity and your current loan-to-value ratio is 25%.

Do I need an appraisal to get a home equity loan? How much does one cost?

You’ll need an appraisal if you’re looking to borrow more than $100,000 or more than the current assessed value of your equity. If an appraisal is required and you’ve had one done in the last three months, we’ll accept it. If it’s older than that but was still done in the last year, we’ll review it to see if we can accept it. New appraisals typically cost between $400-$500.

"All my questions and concerns were handled with care, and I felt very confident with the advice and service I received while obtaining this line of credit."S.G.November 2021

"Veridian has always treated me well. No hidden fees or high fees, no mistakes."J.B.September 2021

"I love the personal service I have received from opening my checking/savings accounts, obtaining my home loan and now my HELOC."D.B.September 2021

"I have been with you for a long time and have been very happy with the service we have had."R.S.September 2021

Are you ready to start your line of credit?

Get a Heloc

^⋈Standard closing costs of up to $275 are waived. Other fees, such as appraisal or title guarantee fee, may apply and will be paid by borrower. Offer valid on applications received through 6/30/22 and may not be used in conjunction with first-mortgage loans. Loan balance must be at least $10,000 and include at least 25% new money to the credit union.

^♦APR = Annual Percentage Rate. Includes Loyalty Program discount of 0.25% APR when enrolled in eDocs and while maintaining direct deposit of net income to Veridian or, if unavailable, a minimum of 10 qualifying checking account transactions per month. Borrowers will lose discount if they fail to meet Loyalty Program qualifications during loan term. Rate fixed for first 60 or 120 months of the 25-year term; after that, the rate is variable and the maximum APR is 21%. Add up to 2.5% to interest rate for home equity lines of credit with loan-to-value ratios over 80% (maximum of 100%). Rates, terms and conditions subject to change and may vary based on qualifications including creditworthiness, loan-to-value ratio and collateral conditions. Home equity loans only available in Iowa and Nebraska and do not include escrow. All loans subject to membership and approval. Appraisal fees may apply. See Veridian for details.