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Home Equity Lines of Credit

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Credit at your convenience

No-Cost Home Equity Line of Credit (HELOC) in St. Louis

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

    When you finance through us, we pay for all of your closing costs (appraisal, title, flood certification, and recording fees), saving you between $500-$1,500.

  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.

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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 2-1-2021.
- 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, St. Louis County, Jefferson County, Franklin County, Washington County, St. Francois County and Ste. Genevieve County, as well as St. Charles County. IL property located in of St. Clair County, Madison County, Monroe County and Randolph County.

To calculate how much you can borrow, take your home’s current value and multiply it by 60%, 80% or 100%. Take that figure and subtract how much you still owe on your current mortgage. The result is your available equity.

For example: If your home is worth $100,000, then $80,000 will be 80% of it. Next, if your current mortgage balance is $50,000, you will subtract it from $80,000. The maximum amount you can borrow for 80% is $30,000.


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

Loan Calculator

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


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

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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.