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AppleTree Credit Union home equity review

Get low rates with minimal fees — if you qualify for its limited membership.

AppleTree Credit Union only offers home equity and refinance products, which may be why it can offer such low rates and fees. But you can only take advantage of these benefits if you qualify for membership.


Loan products offeredHome equity loan, HELOC
Minimum credit scoreNot listed, but most lenders require at least a 620 FICO score
APR range1.499% - 17.39%
Repayment termsLoan: 5 -15 years
HELOC: 10-year draw
Loan limitsMinimum $10,000 on loans
State availabilityOnly available in: WI

Pros and cons of AppleTree Credit Union


  • Low introductory rate. This lender offers an introductory rate of 1.499% for the first 12 months on homes with an 80% loan-to-value (LTV) ratio or less.
  • Transparent about costs and fees. AppleTree charges minimal fees and spells them all out in its disclosure documentation, so you always know what to expect.


  • Limited branch locations. AppleTree has only two physical branches, in Pewaukee and West Allis, Wisconsin.
  • No purchase options. The only mortgage products offered are home equity and refinance options. The credit union can refer you to another lender for purchase loans.

What types of fees does AppleTree Credit Union charge?

For a HELOC, AppleTree only charges a $10 documentation fee, but you’re still responsible for third-party fees, such as the following:

  • Appraisal fee
  • Title fees
  • Homeowners insurance
  • Flood insurance, if applicable

AppleTree estimates your third-party fees may cost you between $300 and $1,000 and can provide you with an itemized list of the fees specific to your home equity product.

AppleTree estimates $295 in closing costs for loans under $99,999, which doesn’t include an appraisal fee.

AppleTree Credit Union requirements

This lender doesn’t list out its loan requirements but gives the best rates to properties with an 80% loan-to-value (LTV) ratio or less. It does accept applications on homes with a 90% LTV ratio but charges higher interest rates. Additionally, expect your debt-to-income (DTI) ratio and credit history check as part of your application process.


AppleTree doesn’t list the documentation required, but you should be prepared to provide the following information.

  • Personal contact information
  • Employment and income details
  • Tax documents, such as W2s and returns
  • Proof of insurance
  • Account statements

How to apply for a home equity loan with AppleTree Credit Union

When you’re ready to apply, use the following steps to start the process:

  1. Navigate to the AppleTree Home Equity page and select Apply Now.
  2. Fill out the online form with information about the loan you’re seeking, two years of your rental or housing history and your employment history.
  3. Enter information about your spouse or joint applicant, if applicable.
  4. Select which bank branch you want to use for your closing, type your initials and select Apply Now.

What types of home equity products does AppleTree Credit Union offer?

AppleTree offers the following two home equity options:

  • Home equity line of credit (HELOC). This option offers a variable-rate credit line with a 10-year draw period. It has a $1,000 initial minimum draw, but you can draw as little as $100 after that. The repayment period is based on how much is owed at the end of your draw period.
  • Second mortgage. This option serves as a home equity loan, offering a fixed interest rate and loan term and no annual fee. Choose between a 5- and 7-year term or amortize your loan across 15 years.

Other mortgage products offered by AppleTree Credit Union

The only other mortgage product offered by AppleTree is a refinance option that allows you to either change the terms of your first mortgage or cash out on your equity. This lender connects its customers with Referral Mortgage for purchase mortgage options through a contact form on its website.

How AppleTree Credit Union’s home equity products compare to other lenders

This credit union’s HELOC has a great introductory rate, and both the line of credit and home equity loan have flexible terms that allow you to amortize your repayment to make it affordable. Borrowers may also be impressed with how transparent AppleTree is both with its fees and how it calculates its interest rates.

But not everyone will want to have separate banks for its mortgage and home equity products, and obviously the limits on its membership and service area mean its products aren’t available to many.

Compare HELOC lenders

Compare these lenders and lender marketplaces by the type of home equity product you’re searching for, state availability and minimum credit score. Select See rates to provide the company with basic property and financial details for personalized rates.

Name Product Loan products offered State availability Min. credit score
(NMLS #1121636)
Conventional, Home equity, Refinance
Not available in: HI, MO, NM, NY
No hidden fees, multiple loan terms, and member discounts available.
(NMLS #1717824)
Not available in: DE, HI, KY, MD, NY, SC, TX, UT, WV
Speedy prequalification, minimal fees and a wide range of loans and terms with this HELOC lender.
(NMLS #1136)
HELOC, Home Equity loans
Available in all states
Connect with vetted lenders quickly through this free online marketplace.
Hometap Equity Partners
Hometap Equity Partners
Home equity investment
Only available in: AZ, CA, FL, MA, MD, MI, MN, NC, NJ, NY, OR, PA, VA, WA
Sell a portion of your home's equity for cash without monthly payments or hurting your credit score.

Compare up to 4 providers

AppleTree Credit Union reviews and complaints

You won’t be able to do much research on this credit union through online reviews. The lender isn’t accredited with the Better Business Bureau (BBB) but has an A+ rating because it has no complaints and no reviews. Trustpilot doesn’t have a profile for AppleTree Credit Union, and Yelp has only one 5-star review, which praises the credit union’s service and calls out helpful staff members by name.

Our verdict

AppleTree Credit Union is a small lender with an extremely limited service area. If you live in the area and qualify for membership, AppleTree allows you to access your home’s equity in two ways with minimal fees and low interest rates. But using this lender means having two separate banks for your mortgage and HELOC or home equity loan because AppleTree doesn’t offer mortgage loans.

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