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If you want to borrow money, a HELOC (Home Equity Line of Credit) is a smart solution. It allows you to get money without draining your savings. Our HELOC has become one of our most popular mortgage products because it enables our members to be prepared for expected or unexpected events in their lives. Use your HELOC proceeds for a vacation, home improvements, tuition costs, wedding expenses or simply for a "rainy day" fund. Although at times it may seem that your house is a gigantic money vacuum, your home actually repays your investment. The equity you create with every penny you spend on your house provides a generous cash supply for you to use.


Select from 3 HELOC Products with an Initial Fixed Rate Term*

Home Equity Line of Credit Features:

  • No Closing Costs
  • Choice of Initial Fixed Term Options*
  • Lines starting at $20,000
  • Maximum loan amount $150,000
  • 10-Year Draw Period
  • Minimum monthly payment is Interest Only during draw period
  • 15 year payback of principal and interest after draw period
  • Competitive Rates
  • Borrow up to 80% or 85% combined loan-to-value of appraised value
  • Floor Rates of 4.00% and 5.00%
  • Homeowner's insurance is required.

*Please call or email the credit union for loan product details. loans@shrewsburycu.com


It's Easy to Apply!

  • Click the "Apply Now" Button below to Apply Online. Call or stop by our office anytime. 

What You Should Know About Home Equity Lines of Credit

HELOC 1 Year

HELOC 3 Year

HELOC 5 Year

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