Help From Your Home
If your home has equity, you may be able to use that for any reason, at any time!
- Use for anything
- Use when you want
- Easy payment options
- Lines from $5,000 to $100,000
- Loans subject to credit approval
- Questions? Call 207-282-6169 or text our mortgage lending team at 207-602-4313!
Frequently Asked Questions
How long can my HELOC be open for
Your line will remain open for 10 years unless you wish to close it, sell your home, or if the Credit Union deems closure as necessary.
How much is the monthly payment on a HELOC?
Your monthly payment is 1.5% of your outstanding balance the last time you took an advance. As you pay down your balance, the funds become available to borrow again!
How much can I get a Home Equity Line of Credit for
The equity in your home is the difference between the home’s value and the outstanding balance of any mortgages you have on your property. The credit limit on your Home Equity Line is calculated by taking 85% (70% for condos) of the appraised value of your property and subtracting the balance owed on the existing mortgage(s). The amount of credit available depends upon your credit, your ability to repay, and your home's equity.
