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Tap into your home's possibilities

Quick HELOC for smaller immediate needs

Classic HELOC for bigger projects

Tap into your home's possibilities

Quick HELOC for smaller immediate needs

Classic HELOC for bigger projects

Home Equity Lines of Credit

When you need to borrow for a home renovation, debt consolidation, or other expenses, and using your home as collateral is an option, a Home Equity Line of Credit (HELOC) or a Home Equity Loan may be right for you. Often referred to as a second mortgage, both a HELOC and Home Equity Loan include competitive rates and several lending options.

Key features of Redstone Home Equity Lines of Credit:
  • No annual fee
  • No closing cost
  • No appraisal fees
  • Up to 100% LTV1
  • Variable rate, tied to Prime
  • Interest only with a minimum payment of $100
  • Borrow funds as needed, advance through online banking, or access with your HELOC Visa® credit card
We offer two ways to use the equity in your home with our Quick HELOC and our Classic HELOC.

Quick HELOC

Borrow up to

$50,000


Minimum loan amount $10,000.

Finance up to

100%


of the appraised value of your home1

APR as low as2


%

10-year draw period, 10-year repayment period

Classic HELOC

Borrow up to

$250,000


Minimum loan amount $50,001.

Finance up to

100%


of the appraised value of your home1

APR as low as2


%

15-year draw period, 15-year repayment period

HELOCs are only available for properties located in Alabama and Tennessee.

You must be an RFCU® member to obtain a HELOC loan. Must be eligible for membership and open a share savings account. A minimum balance of $5.00 is required to open and must be maintained in share savings account at all times. All HELOC loans are subject to credit approval. Rates are determined by an evaluation of applicant credit at account opening. Your rate may be different. Variable rates are subject to change after account opening. Must have online banking user name and password to access HELOC online application. Must create separate user name and password to gain access to Home Equity loan application process. RFCU is an Equal Credit Opportunity Lender. Other restrictions may apply.


Rates current as of .

For Home Equity Line of Credit (HELOCs):

1Finance up to 100% of total Loan-To-Value of the equity in your primary residence or 80% of the total Loan-to-Value for a vacation/second home or investment property. Total HELOC aggregate cannot exceed $750,000. RFCU pays closing costs. Property insurance is required.

2The minimum Annual Percentage Rate (APR) is % and may vary. However, your initial APR is based on an evaluation of your credit and may be different. The maximum APR is 18% or the maximum allowed by law, whichever is less. $10,000 to $250,000 equity lines.