BMI Federal Credit Union
Put Your Home's Equity to Work
With a Home Equity Line of Credit
Let's Make It Happen, Together
A Home Equity Line of Credit, or HELOC, offers you a flexible Line of Credit that can be used for a variety of needs+ because you're using the equity earned on your home.
- Home Repairs
- Additions/Improvements
- Debt Consolidation
- Higher Education
Earn $200!
Right now earn a $200 cash bonus* when you open a new Home Equity Line of Credit from BMI FCU!
- HELOC rates as low as 3.250% APR1
- Plus, no Application Fee
Get a HELOC and Earn!
| Product |
Rate |
APR1 as low as |
| Home Equity Line of Credit2 |
3.250% |
3.250% |
| Closed End Home Equity Loan3 |
4.250% |
4.250% |
Home Equity rates effective 12:00 am on Monday, August 31, 2020
1 APR = Annual Percentage Rate. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications and collateral conditions. All loans subject to approval.
2 Fees required to open line of credit will range from $250 to $750. This is a variable rate plan, APR may change quarterly. Maximum APR is 18.00%. Minimum APR is 3.00%. Must carry insurance on the property. Consult your tax advisor regarding the deductibility of interest and charges.
3 Must carry insurance on the property. Consult your tax advisor regarding the deductibility of interest and charges.
Need Help?
We are here to help you every step of the way through the loan process.
+ For Ohio owner occupied properties only.
* Enter promo code HE2020 when applying online or mention when applying in person. Applications must be received between March 1 and July 31, 2020 with loan disbursed by August 31, 2020. Cash bonus of $200 will be deposited into member’s account within 10 days after loan disbursement and all qualifications have been met. Requirements for cash bonus: minimum credit limit of $5,000, initial draw of at least $5,000, and automatic loan payment from a BMI FCU savings or checking account. Fees required to open line of credit will range from $250 to $750. This is a variable rate plan, Annual Percentage Rate (APR) may change quarterly. Maximum APR is 18.00%. Minimum APR is 3.00%. Rate as of January 31, 2020. Must carry insurance on the property. Owner occupied properties in Ohio only. Consult your tax advisor regarding the deductibility of interest and charges. Cash bonus may be considered income and reported on 1099 MISC or 1099 INT. Existing BMI FCU loans are not eligible for this offer. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications and collateral conditions. All loans subject to approval. Membership eligibility and account requirements apply. BMI FCU is open to everyone who lives, works, worships or attends school in Franklin, Licking, Fairfield, Pickaway, Madison, Union, Delaware or Morrow County. Federally Insured by NCUA. Equal Housing Lender. BMI FCU may amend, suspend, or discontinue this offer at any time without notice. Offer ends July 31, 2020.