Home Equity Lines of Credit (HELOCs)

Q: What factors determine my Home Equity Loan interest rate?

Like any loan, your interest rate is determined by factors like your debt-to-income ratio, income, credit history, and more. Generally, the higher an applicant’s credit score and lower their debt-to-income ratio the better rates they will be able to access.

Q: How much money can I borrow?

Minimum loan amounts are $10,000. A loan over $250,000 requires a certified full appraisal.

Q: How is the property value of a home determined?

Your property’s value will be determined by either the most recent tax assessment, or by a full appraisal that the credit union will order. When a tax assessment is used, current property pictures, both front, and back, will be required, and the maximum loan to value is 75% of the tax assessment. If the appraisal is used, the maximum loan to value is up to 100%.

Q: Will I enjoy any tax advantages?

Sometimes, interest on home equity loans is tax deductible if it’s being used for certain types of home improvements. However, it’s not a guarantee, and it’s best to consult your tax advisor about this possibility.

Q: Does my name need to be on the deed to qualify for a home loan of this type?

Yes, to borrow against your home’s equity, you’ll need to be on the deed, the title needs to be clear, and the home in question must be your primary residence.

Flexible Home Equity Lines of Credit — Access Funds on Your Terms

A Home Equity Line of Credit (HELOC) from Members Heritage Credit Union gives you the flexibility to manage expenses with confidence. Whether you're covering unexpected costs, consolidating high-interest debt, or funding home improvements, a HELOC gives you ongoing access to funds when you need them most.

Getting started is simple—apply individually or jointly and complete your application securely online through DocuSign, or choose to apply by email if you prefer. Questions? Contact our Lending Department at 859.259.3466 ext. 7289.

Home Equity Lines of Credit Features

A Home Equity Line of Credit (HELOC) gives you flexible access to funds based on your borrowing needs.

During the 7-year draw period, you can take advances as needed. After the draw period ends, the remaining balance of the 15-year variable-rate loan converts to structured monthly payments over the next 8 years. With no prepayment penalties, you can pay down your balance at any time.

Additional details include:

$10,000 minimum credit line
$500 minimum initial advance
Subsequent advances of $100 or more
Access funds through your Share Draft (Checking) Account
Property must be your primary residence
The borrower must be on the deed, and the title must be clear

More questions? Check out our FAQ or learn more about HELOCs through this guide from the Consumer Financial Protection Bureau.

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Home Equity Line of Credit

Effective Date: 6/1/2026

Type	Rates as low as	APR*
Home Equity Line of Credit	6.75%	6.75%

*APR = Annual Percentage Rate. Rates may vary depending on your creditworthiness. Please ask a Member Service Officer for details regarding how your rate is determined.

**All rates are subject to change.

What Our Members Are Saying

Been with MHCU for 35 years, since it was known as the IBM Employees Federal Credit Union. No reason to bank elsewhere. They have serviced all my share account and loan needs; on my 4th home mortgage with them.

W. B.