Bethpage Federal Credit Union
As a nonprofit institution, Bethpage's HELOC has some of the best introductory rates around. It offers a 3.49% fixed rate for 12 months, but you must draw $25,000 at closing with a loan-to-value (LTV) ratio of 75% or less.
Your rate will change after the first year based on your credit, minimum draw amount and LTV. Bethpage lines start at $10,000 and go up to $1 million and only require a minimum $100 draw.
- Option to convert your HELOC's outstanding balance to a fixed rate
- No closing costs on HELOCs of up to $500,000 if kept open for three years
- Membership only requires opening a checking account with a $5 deposit
- Fixed rates only apply to balances of $25,000 or more
- Must maintain a minimum balance of $25,000 for 12 months to get the introductory rate
- Bethpage HELOCs aren't available in Texas
Minimum credit score | Conventional: 620 |
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