Unlock Your Imagination Small house placed on top of money with a key

With a Home Equity Line of Credit


Put Your Home's Equity to Work

A Home Equity Line of Credit offers a flexible Line of Credit for a variety of needs, because you're using your home equity as collateral. These loans are for Ohio owner occupied properties only.

  • Home Repairs
  • Additions/Improvements
  • Debt Consolidation
  • Higher Education 

Right now, earn a $200 Cash Bonus* when you Open a HELOC from BMI Federal Credit Union! 

  • HELOC rates as low as 5.500% APR1
  • Plus, no Application Fee
Important Terms of our Home Equity Line of Credit
 

Get a HELOC at BMI Federal Credit Union

Product Rate APR1 as low asPrint Home Equity
Home Equity Line of Credit2 5.500% 5.500%
Closed End Home Equity Loan3 6.500% 6.500%
Home Equity rates effective 12:00 am on Thursday, July 28, 2022
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. The maximum annual percentage rate that can apply is 18.0% or the maximum permitted by law, whichever is less. However, under no circumstances will your annual percentage rate go below 3.0% at any time during the term of the plan. 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.

*Enter promo code HELOC22 when applying online or mention when applying in person. Applications must be received between April 1 and September 30, 2022, with loan disbursed by October 31, 2022. 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%. Rates effective as of March 17, 2022. 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 September 30, 2022.