Home Equity Line of Credit (HELOC)

Make use of the equity in your home!


A Home Equity Line of Credit allows you to borrow money against the portion of your home that you own (i.e. equity); the amount your home is currently valued at, minus the amount you have left on your mortgage and other existing liens. Metro Credit Union offers multiple HELOC options for up to 90% of the equity of your home.


Once approved, your HELOC loan works like a revolving line of credit. You can borrow when you want for as much as you want, up to your limit, and pay your balance down monthly, with no penalty for early payoff. HELOCs are 15 year loans, with draw periods ranging from 5-10 years, giving you the remaining time to pay off the balance.


Metro offers multiple HELOC types, including, Flex, NEW Fixed Rate, and Variable Rate options.


The Flex option is a variable rate line of credit that allows you to "lock" your balance at the current rate up to four times during the life of the loan. This allows you to save money on your outstanding balance should interest rates go down in the future.


Fixed Rate HELOC

This new product offers the ability to have an open line of credit at a fixed rate. Unlike the Flex HELOC, you do not have to draw funds from it in order to have a fixed rate. You can borrow the money you need at the same rate throughout the draw period. In times when interest rates are likely to rise over the next few years, this option ensures your rate will not increase during the draw period.

Learn more about our current 5-year fixed rate HELOC promotion.



Variable Rate HELOC

This traditional option has no locked rates, making it a great option if you need to open a HELOC when interest rates are higher. If interest rates drop in the future, you will not be locked into a higher rate.

Which product is right for you?

Which Home Equity Line of Credit is right for you
DetailsFixed HELOCFlex HELOCVariable HELOC
Maximum Loan-to-Value90%90%90%
Minimum Required Credit Limit$10,000$10,000$10,000
Term15 years15 years15 years
Draw Periodup to 10 yearsup to 10 yearsup to 10 years
Interest RateFixed rate during draw period
Varible rate after draw period
Variable rate with options to lock at a fixed rate and term up to four timesVariable rate

Mortgage Loan Officers

Ready to get the process started? Reach out to one of our Mortgage Officers

Bobby Miles

Bobby Miles
Mortgage Loan Originator
MLO Identifier: 964470

Phone: 402-552-7179
Email: bobbym@metrofcu.org

Vanessa Patino

Vanessa Fuentes
Mortgage Loan Originator
MLO Identifier: 1536151

Phone: 402-552-7138
Email: vanessaf@metrofcu.org
Hablo Español

Zach Novak

Zach Novak
Mortgage Loan Originator
MLO Identifier: 1705911

Phone: 402-552-7145
Email: zachn@metrofcu.org

Financial Calculators

Use these calculators to give yourself an estimate of the equity you may have in your home, and repayment amounts based on the amount you're looking to use.

Home Equity Line of Credit

Line of Credit Payoff

HELOCs are subject to credit approval. A $250 processing fee and appraisal fees up to $600 may apply. The lowest variable APRs are the floor rates of 5.00% and 6.00% for owner and non-owner-occupied properties, respectively. The maximum APR is 15.00%. Membership in Metro Credit Union is required.

Please call or stop by for the most current rates.

Metro Credit Union- Your Local Advantage ®

Apply Now

If you are currently a Metro member, please select “Current Member Application” and log into our online banking platform.  If you are a non-member, please select “New Member Application” to apply.