Home Equity Line of Credit

Planning a home improvement or other major expense? Use the equity in your home responsibly with a Home Equity Line of Credit from PFCU to get the funds you need, when you need them.

What is a Home Equity Line of Credit?

A Home Equity Line of Credit (HELOC) is a loan that allows borrowers to borrow up to a maximum amount using their home’s equity as collateral. Unlike a Home Equity Loan, a home equity line of credit allows borrowers to borrow in multiple sums (up to the allowed credit limit) rather than receive one up-front sum.

A Home Equity Line of Credit functions like a credit card, only with a spending limit that’s determined by the equity in your home. You may utilize this revolving credit over a period of five years and pay a variable rate that is determined by the prime rate.

Why Choose a Home Equity Line of Credit

  • Home improvements. Borrow the funds you need, when you need them for your home improvement projects that can increase the market value of your home.
  • College tuition. Use your home’s equity to invest in your child’s future – and only borrow when payments are due.
  • Periodic expenses. Borrow funds in installments to pay off periodic expenses using your home’s equity as your line of credit.

Benefits of Choosing a Home Equity Line of Credit

A Home Equity Line of Credit offers you the flexibility and the funds you need, when you need them.

  • Flexible borrowing. With a home equity line of credit, only borrow the funds you need when you need them.
  • Limit interest. Only pay interest on the funds you’ve withdrawn against your line of credit.
  • Lower initial payments. Make smaller initial payments while you borrow.

Home Equity Lines of Credit

A HELOC from PFCU offers you the opportunity to use your home’s equity to get a line of credit with competitive rates.

Loan Amount

  • Minimum: $5,000
  • Maximum: Determined by your home's equity Primary residences and vacation homes can be used as collateral

Interest Rate

Special introductory fixed rate as low as 3.99% APR* for the first 12 months and a variable rate as low 8.25%* thereafter


Draw period is five years.

Residency Restrictions

PA, NJ, NC, SC, DE, MD and FL Not available for investment property


Home Equity Loan

Is a Home Equity Line of Credit not the right fit for your needs? PFCU also offers Home Equity Loans to qualified borrowers.

Want to talk to someone?

Call our Member Services Representatives at 215-934-3500 to talk with a PFCU Mortgage Professional.

The Home Equity Line of Credit (Line of Credit) introductory rate of 3.99% APR is available for all new Lines of Credit for a 12-month period of time from the opening date of the Line of Credit. Introductory rate available to new Lines of Credit only. Minimum of $5,000 per Line of Credit. The introductory APR will terminate at the end of the 12-month introductory period. No notice of termination to the borrower is required. Upon expiration of the introductory rate, the variable rate stated in borrower’s Loan Disclosure applies. APR=Annual Percentage Rate. This plan has a variable rate feature. The Annual Percentage Rate (corresponding to the prime rate) and the minimum payment during the draw and the repayment periods can change as a result. Minimum payment example: If you made only the minimum payments and took no other credit advances, it would take 180 months to pay off a credit advance of $15,000.00 at an annual percentage rate of 8.25%. During that period, you would make 180 monthly payments of $145.52. Maximum rate and payment example: If you had an outstanding balance of $15,000.00 during the draw period and took no credit advances, the minimum payment at the maximum annual percentage rate of 18.00% would be $241.49. If you had an outstanding balance of $15,000.00 during the repayment period, the minimum payment at a maximum annual percentage rate of 18.00% would be $241.49. Your rate will be based on your credit history and other factors and may be higher. Rates and terms are subject to change without notice. The maximum APR that can apply is 18%. Property insurance is required and flood insurance may be required. Home Equity Lines of Credit are only available in PA, NJ, NC, SC, DE, MD and FL. Other charges may apply for loans secured by property outside PA and NJ and are the responsibility of the borrower. Offer of credit is subject to credit approval. Fees that PFCU pays on borrower’s behalf will be recaptured and will be the responsibility of the borrower if the loan is paid off within the first three (3) years. Consult a tax advisor regarding the deductibility of interest.

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PFCU is a proud member of the National Association of Federal Credit Unions
National Credit Union Administration 
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.
Equal Housing Lender 
We do Business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

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Please note that the amount of money contained in your investment accounts are considered non-deposit products and therefore, are not NCUA insured, not credit union guaranteed, may lose value, are not guaranteed by any government agency. Securities, Financial Planning and Insurance products are offered through LPL Financial, and its affiliates, Member FINRA, SIPC. LPL Financial and Philadelphia Federal Credit Union are independent entities.