Holiday Office Hours:

Please note all community banking offices will be closing at noon on Friday, March 29, and our Shiloh office will be closed all day in observance of Good Friday. Offices will resume normal business hours on Saturday, March 30.

Do Your Thing... with a Freedom Home Equity Line of Credit

*Annual Percentage Rate (APR) is subject to credit qualifications, based on FICO score.  This variable rate is based on The Wall Street Journal Prime Rate which is 8.50% as of July 27, 2023. Your rate is subject to monthly adjustments as the Prime Interest Rate changes.  Your APR will not exceed 18% or go below 3.25% at any time during the term of your loan. The disclosed rate requires a credit score greater or equal to 680 and an eligible FCBank checking account with auto-charge enabled for the payment. Maximum LTV of 85% on primary residence. All HELOCs have a 10-year draw period and a 20-year repayment period. Credit limits are available from$2,500 to $250,000 and are for personal, family and household purposes only. Other rates and terms may be available. Adequate property insurance is required. A $49 annual fee applies during the draw period. A $99 fee applies each time a fixed rate lock is established.

**If the line is terminated within the first 36 months, you will be required to reimburse FCBank for the third party costs associated with originating the loan.  Third party costs are estimated between $500 and $3,500 and must be paid at the payoff and termination of your account. 

Use your money, your way.

You can use FCBank’s Freedom Home Equity Line of Credit (HELOC) like a traditional line of credit and only pay interest on the portion you borrow. Plus, you have the option to lock in a portion of your line of credit and pay it off with fixed monthly payments.

Visit your local FCBank Branch or call 1-855-880-3694.

Apply Now



Freedom Home Equity Line of Credit

Our Freedom HELOC gives you the flexibility to use the equity in your home to have cash on hand when you need it. Take advantage of the equity in your home with these benefits:
  • NO CLOSING COSTS!**

  • No application fees

  • Simple payment options

  • Easy access to funds

  • Competitively low interest rates

How it Works

  • When you’re approved for a Home Equity Line of Credit, you have the option to draw on your line of credit or lock in portions just like a fixed rate, fixed term loan.

  • The number of lock periods are unlimited, and there is a fee per lock each time you lock a portion of your HELOC balance. 

  • As you pay down the HELOC, the funds become available again on your line of credit.

Here are few things you can do with your HELOC:

Borrowing Best Practices

How Much?
A good rule of thumb is to borrow the amount you can comfortably afford, not the amount you qualify for. Otherwise, this could leave you in a pinch with day-to-day expenses.
Debt to Income Ratio
Your monthly debt payments divided by your total gross monthly income calculates your Debt to Income ratio. This ratio is used in determining the credit limit and monthly payment you qualify for.
Credit Score & Interest Rate
The interest rate you receive is based on your credit score. The lowest rates are given to customers with credit score of 680 or higher.
Fixed vs. Variable Rate
Fixed rate loan payments remain the same throughout the life of the loan. Variable rate loans are tied to a market index, so rates and payment amounts could vary over time.

Additional Mortgage Information

Bank takes pride in the experience and expertise of our mortgage lenders.  The Nationwide Mortgage Licensing System Registry gives you access to a free service to confirm that the mortgage company or mortgage professional employed by us is authorized and licensed to conduct mortgage business. Access this information by clicking here.  NMLS#410748

Bank appreciates the opportunity to be your financial partner.
 

Contact Us Today!

If you're interested in learning about our products or services, please contact us toll-free at 1-800-492-3221, visit us at any FCBank branch location, or send an email to CustomerServiceCenter@FCBank.bank.
 

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