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Home » Loans » Home Equity Loans & Lines
Home Equity Loans is rated 4.9 out of 5 by 7.
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Local Service. Affordable Payments. Endless Possibilities.

Use the equity in your home to get the cash you need, when you need it. With our great rates, flexible terms and affordable monthly payments, it’s easy to tap into your home’s equity. We offer Home Equity Loan and Line of Credit options.

Features
  • Apply online in as little as 20 minutes
  • Competitive rates and affordable payments
  • Local underwriting for fast approval
  • Easy, online payments in Online Banking

When you're ready to access your home's equity, we're here to help!

Home Equity Loan (Second Trust)

Get the money you need in a convenient, single payout to cover debt consolidation, home improvements, medical expenses or most any other purpose.

Features:
  • Loans up to $250,000 (up to 100% current home LTV*)
  • Fixed terms of 3-, 5-, 7- or 10 years with an amortization of 240 months
  • Fixed terms of 5/10/15 years
  • No annual fees
  • Fixed-rate monthly payments
  • No early payment penalties
  • Local servicing
  • Interest may be tax-deductible**.
Ask a Question about our Equity Loans

Home Equity Line of Credit (HELOC)

The convenience of anytime access and continuing source of funds can be used for debt consolidation, home improvements, education costs, wedding expenses, vacation plans and most any other purpose.

Features:
  • Borrow up to $250,000 (up to 90% current home LTV*)
  • 10-year draw period
  • Revolving credit line available (up to 20-year repayment)
  • Minimum monthly payment based on interest due for current balance
  • No pre-payment penalties
  • No annual fees
  • Convenient access to your money—Online Banking, by phone, check or at any branch
  • Local servicing
  • Interest may be tax-deductible**.
Ask a Question about our Home Equity Line of Credit
Features Fixed Equity Loan Home Equity Loan Home Equity
Line of Credit
Fixed Terms 5, 10, 15 year 3/20, 5/20, 7/20, 10/20 year 10 year draw
Minimum Loan Amount $10,000 $10,000 $5,000
Maximum Loan Amount $250,000 $250,000 $250,000
Maximum Loan-to-Value 100% 100% 90%
Maximum Terms (minimum loan amount may apply) up to 180 months up to 120 months 360 months
Amortization 60/120/180 months 240 months 240 months
Lien Position 2nd 2nd 2nd
Closed-end terms Yes Yes No
Revolving Loan Terms No No Yes
Optional Payment Protection Available (LoanShield) Yes Yes Yes
Online Banking FREE FREE FREE
Online payment options FREE FREE FREE

With Apple Financial Services LLC, a wholly-owned subsidiary of Apple FCU, you’ll enjoy one-on-one attention from an insurance agent who will take the time to find the coverage you need at a price you can afford.

Enjoy peace-of-mind knowing that your home and belongings are protected with an affordable policy and coverage options that fit your lifestyle. Our award-winning agents make shopping for insurance with national carriers easy.

Call us at 703-788-4817 to schedule an appointment or get your no cost, no obligation online insurance quote today.

*Property values are based on the lesser of the current appraised value or a Freddie Mac Home Value Explorer (HVE®) with a condition report. Independent appraisals not accepted. **Consult your tax advisor regarding tax-deductible interest.

The HMDA data about our residential mortgage lending are available for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, and income of applicants and borrowers; and information about loan approvals and denials. Inquire at 703-788-4800 or 800-666-7996 regarding the locations where HMDA data may be inspected.

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Rated 5 out of 5 by from Easiest home loan application process Of all the confusion that could've occurred, we had a very simple, straightforward experience with applying for and obtaining our home equity loan. Applying online was fast, easy and convenient. The information about next steps and what to expect and when to expect it came quickly and were very clear. We had a quick, convenient and painless closing and the funds were put in our account directly. Everyone was friendly and professional. Thank you Apple FCU for helping us achieve our goal of making our home a better one.
Date published: 2015-05-22
Rated 5 out of 5 by from BEST HELOC My husband and I applied for HELOC through Apple FCU and it was the best decision we ever made. Our loan officer and processor were GREAT. Very knowledgeable and quick to respond to emails or phone calls . They stated the process time would be 3-4 weeks from start to finish but our process from start to finish took less than two weeks. Thank you Darcie & Marco for everything!!!!!!!!!!!!!
Date published: 2016-06-16
Rated 4 out of 5 by from Loan in a minute I was able to borrow money in less than 48 hours. I was impressed with how fast (and easy) it was to get the loan.
Date published: 2015-07-22
Rated 5 out of 5 by from Easy and convenient There is no better option. Easy and convenient. Best customer service
Date published: 2015-08-13
Rated 5 out of 5 by from Outstanding Home Equity Loan From my very first contact with a loan officer, all the way through to finalizing the loan, the entire process was smooth and uncomplicated, mostly because every AFCU person I dealt with was very professional and extremely helpful. It was quite a calming experience in such a vital financial transaction.
Date published: 2015-08-13
Rated 5 out of 5 by from Great Products Everything was easy and fast, great job! I would use Apple again if needed
Date published: 2016-05-05
Rated 5 out of 5 by from Great people We took a help and Apple personnel were great and fairly quick
Date published: 2017-07-10
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Can you tell me what the rates are for a HELOC with good credit ~85LTV

Asked by: kapguy
For current rates on an Apple FCU Equity Loan, please visit https://www.applefcu.org/Loans/MortgageBot. The Equity loans are in the second section under 'Today's Featured Rates'. To get a better idea of what your rate might be based on the property value, amount you wish to borrow, etc., click the ‘Check Rates/Get Quote’ button.
Answered by: Apple FCU
Date published: 2017-10-06

Hello, I am an existing customer with Apple. Wanted to check the rates/options and processing times for HELOC that the credit union is offering. Also do you have any locations around Ellicott City MD that I can walk in and get more info

Asked by: Prabha
The timing really depends on the required documentation being submitted and then reviewed. Generally speaking, we're looking at 4-6 weeks to complete the process. It's also dependent on the volume of applications received at any given time. For rates, options, quotes or to apply, visit https://www.applefcu.org/Loans/MortgageBot. And we don't have any branches outside of Virginia. To find the location nearest you, visit https://www.applefcu.org/Appleweb/Locations. You're also welcome to call 703-788-4800, option 5, to speak with an equity specialist. We look forward to serving you!
Answered by: AppleFCU
Date published: 2017-10-03

Can you please let me know what the process is for subordinating a current HELOC

Asked by: Lorinda
For assistance with a current HELOC, please call 703-788-4800, option 5, to speak with an equity specialist.
Answered by: AppleFCU
Date published: 2017-10-03

Please provide me with your credit requirements, fees, etc. for a Home Equity Loan and Credit Line.

Asked by: Katelyn
For information on Apple FCU Equity Loan or Line of Credit rates, fees and more, please visit https://applefcu.org/Loans/MortgageBot and click 'Check Rates/Get Quotes' on the left side. From there, you can select certain values that would give you a more accurate estimate based on these specifics. Should you need to speak with an equity specialist, please call 703-788-4800, option 5. We look forward to serving you.
Answered by: AppleFCU
Date published: 2017-09-19

Can I direct deposit my pay checks to the HELOC as well as write checks from it?

Asked by: Anonymous
Yes, you schedule transfers towards your HELOC in-line with your direct deposit. This transfer can easily be scheduled within Online Banking (Move Money tab). You're also able to request checks for your HELOC by calling 703-788-4800, option 5.
Answered by: AppleFCU
Date published: 2017-09-12

Interested in obtaining a Home Equity Loan after I complete a basement refinishing in a month. I am not currently a member. What are the criteria for determining how much of my equity I can borrow against? I see on the website up to 100% LTV.

Asked by: Anonymous
Thanks for considering an Home Equity Loan with Apple FCU! Qualified applicants may borrow up to 100% LTV with an approved Home Equity Loan and a 770+ credit score. If you’ve been in your home less than 6 months the LTV will be based on the purchase price. If you’ve been in your home more than 6 months, a new appraisal will be ordered to determine the value. We recommend that you speak with a loan officer directly to discuss your specific lending needs. However, if you're ready to apply now, we invite you to open your account at AppleFCU.org/Join. Once you've got your member number, you can apply for your loan. Feel free to give us a call at 703-788-4800 (800-666-7996 toll-free). You may also apply online by visiting https://www.applefcu.org/Loans/MortgageBot.
Answered by: Apple FCU
Date published: 2017-08-14

Hi! Is the home equity loan like a personal kind of loan were if you already have a mortgage but you want to make home improvements you ca still borrow the money?

Asked by: Ditza
With a home equity product, you borrow against the available equity in your home. There are two types of equities to consider: Line of Credit (referred to as a HELOC) or Loan. At its most basic, an LOC is an open-end, revolving loan. Let's say for example, you'd get approved for $20,000. You could draw and pay-down on that limit repeatedly (Apple's HELOC has a 10-year draw period, 20-year repayment term). This could be used if you've got a number of home improvements to complete, are preparing for a wedding where you'll need to pay multiple vendors, etc. A loan on the other hand would disburse that $20,000 to you in one lump sum, with a set repayment term. These are great if you're doing debt consolidation, or for a one-time purchase, like a deck addition. Rates for an LOC are variable and your payments fluctuate based on your balance. With the Loan, however, the rate is fixed at the time of closing, so you have equal payments for the duration of the payback period. Hope that helps! If you have further questions, feel free to call and speak with an equity specialist at 703-788-4800, option 5. For current rates, quotes on closing costs and more, visit https://www.applefcu.org/Loans/MortgageBot.
Answered by: AppleFCU
Date published: 2017-08-07

How long is the length of time you must have owned your home? In order to qualify for 100 percent loan or heloc?

Asked by: Joe T
Qualified applicants may borrow up to 100% LTV with an approved Home Equity Loan and a 770+ credit score. If you’ve been in your home less than 6 months the LTV will be based on the purchase price. If you’ve been in your home more than 6 months, a new appraisal will be ordered to determine the value. For more details, please email our Home Equity Underwriter at malcazar@applefcu.org or call at 703-788-4800.
Answered by: Apple FCU
Date published: 2017-07-21
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