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Benefits of a Home Equity Line of Credit

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Lower interest rates
than most alternatives

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Flexibility to
use how you want

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Access cash
when you need it

home equity

Financial literacy

What is HELOC?

HELOC is a type of credit that allows you to borrow money using your home equity as collateral, also referred to as a PrimeLine. Your home equity is the difference between the value of your home and the amount you owe on your mortgage.

A Home Equity Line of Credit works like a credit card, meaning you can borrow and repay money up to a limit and only pay interest on the amount you use. You can use a HELOC for various purposes, such as home improvements, vehicle purchases, vacations, building a business, or emergency expenses.

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Why we do it best

Benefits of a SASCU HELOC:

Flexibility: Use the funds how you want. Whether that's extra funds for home renovations, new car, or emergency expenses, the choice is yours!

Lower interest rates
: A Home Equity Line of Credit with SASCU may offer lower interest rates than many other credit options, which means you can borrow more for less and pay off your debt faster. We'll walk you through the process and make sure you're set up with the right borrowing product. 

Access to cash
: Access your HELOC for a revolving credit line that you can use and reuse. You only borrow what you need, when you need it, and pay it back at your own pace. 

Understanding HELOCs

How does a HELOC work? 

Unlike a traditional loan, a Home Equity Line of Credit gives you a revolving line of credit that you can use as you wish. You only pay interest on the amount you use, not the entire credit limit.

You can repay the principal at any time, without penalty. Plus, since your home is used as security, you may get a lower interest rate than other forms of credit. Your HELOC is available to you for as long as you own your home. 



To qualify for a HELOC, you need to have enough equity in your home, a good credit history, and a stable income. Here are some factors that may affect your eligibiliy and limit:

  • The appraised value of your home and the market conditions.
  • The amount and type of mortgage you have on your home.
  • Your income and debt level.
  • Your credit score and payment history.
  • The fees and charges associated with setting up and maintaining the HELOC.
  • The type of home.
If you’re interested in applying for a HELOC or learning more about it, contact us today. We’ll be happy to answer any questions you may have and guide you through the process.
The limit on your HELOC depends on the value of your residence. A HELOC can go up to 65% of the appraised value of your home. You can have a mortgage and HELOC on your home at the same time.

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