Home Equity Line of Credit
DESCRIPTION

Our Home Equity Line of Credit offers a competitive variable rate with financing up to 100% of loan to value (LTV). Our Home Equity Loan is available for financing property in Boise and throughout Idaho.

GENERAL OPTIONS
  • Financing terms up to 20 years
  • Fees paid by Les Bois Credit Union (except the appraisal fee)
  • 80% LTV or Less
    • No maximum amount
    • Quarterly adjustable interest rate based on the Wall Street Journal Prime Rate
  • Over 80% LTV (maximum loan amount is 100% of the appraised value)
    • $50,000 maximum amount
    • Quarterly adjustable interest rate based on the Wall Street Journal Prime Rate
  • Value is based on tax assessed value or appraised value, less 1st mortgage
  • Draws (loan advances)
    • Initial draw (advance) is a minimum of $5,000; subsequent draw minimum is $500
    • Draw period is 5 years (period during which the member may withdraw funds)
    • After draw period the loan can be amortized over the remaining 15 years
    • Payments are adjusted after each draw, based on the new principal balance
    • Draws are initiated by Advance Vouchers and are immediately available
  • APPLY NOW

How long does it take to get a HELOC?

In most cases, it will take from 15 to 30 days between applications to closing.

Why is this a good loan for me?

Home Equity Lines provide maximum flexibility. You will have access to funds as you need them.