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Home Equity Lines of Credit

“I have been a member since the 80s. I've always have been really happy with any loans that I have had and the staff is always friendly and helpful.”

William S.

Credit at your convenience

A home equity line of credit, or HELOC, lets you draw on your home’s value at your convenience. You’ll receive a line of credit you can access when needed, which helps you borrow only what you really want. Use your HELOC for anything you want, including home improvements or everyday repairs.

We give you more

When you choose Arsenal as your lender, we’ll make sure you get a great deal. We’ll let you choose how much to borrow and even waive your closing costs.

  1. 1

    Borrow more

    Most lenders will only let you borrow 80 percent of your home's equity. We offer that too, as well as a hefty 100-percent option.

  2. 2

    Save more

    Save big when we waive your loan's closing costs. For many Arsenal members, this means saving $500 to $700.

  3. 3

    Stress less

    Our low-rate Home Equity Line of Credit won't leave you scrambling to get an expensive payment together every month.

Get your loan

Simply come into one of our branches or give us a call to get started.

Call or Visit Us!

Rates

Loan Type APR* TERM
Variable-Rate HELOC (Home Equity Line of Credit) - 80% Equity Prime 120 months 240-month amortization adjustment cap: 2%; floor rate: 4.50%; life cap: 20%
Variable-Rate HELOC (Home Equity Line of Credit) - 100% Equity Prime + 1.0% 120 months 240-month amortization adjustment cap: 2%; floor rate: 6%; life cap: 20%

APR = Annual Percentage Rate, subject to change and based on creditworthiness. Rates as of 05-01-18.

- Variable Rate - 80% and 100%
- Equity is the difference between what you still owe on your house (mortgage balance) and what your house is worth on the market now (appraised value).
- MO property located in St. Louis City, county, and adjacent counties (St. Charles, Jefferson, Franklin) and IL counties of St. Clair, Madison, and Monroe

Calculator

For more advanced calculations options please take a look at Member Home Loan's mortgage calculators

Loan Calculator

Format: 12m, 36m, 3y, 7y

FAQs

The "equity" you have in your home is the difference between what you still owe on it (your mortgage balance) and what your house is worth on the market now (the appraised value).
They include title search, title company representative fee, document preparation and an appraisal to evaluate the market value of your property. Typically, closing costs total 2 to 5 percent of a home equity loan.
The only place to get a truly free credit report is AnnualCreditReport.com. You can receive one from each credit-reporting bureau – TransUnion, Equifax and Experian – every year. It's best to stagger your three reports throughout the year. For example, get your TransUnion report in January, Equifax in May and Experian in September.
Currently, you must visit a branch to complete a home equity loan application. You can also get the process started by calling us at 314.962.6363 or 618.239.6363, option 4.

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Get your loan

Call or Visit Us!

ACU may pay closing costs for home equity loans or lines of credit. If the borrower repays the loan within the first 12 months, the borrower must reimburse the credit union for the closing costs. Borrower is responsible for obtaining and paying for comprehensive insurance to cover the value of the real estate. Your interest may even be tax deductible; check with your tax advisor.

View our Home Equity Line of Credit Disclosure.