heloc blog

If you own a home and it’s worth more than the remaining balance on your mortgage, you have equity. If you have equity, you can apply for a Home Equity Line of Credit (HELOC)1.

A HELOC is a revolving line of credit that you can draw on, pay back, and draw on again for a set period of time, so you can leverage your home’s equity to pay for:

  • Debt consolidation
  • Home renovations
  • Vacations
  • Education expenses
  • Weddings
  • Appliances
  • Furniture
  • Vehicle purchases

With rates as low as Prime + .25%, using a HELOC to pay for these expenses can save you money, too. Apply for a VacationLand Home Equity Line of Credit before May 31, 2022 to take advantage of these special perks.

  • Pay only Prime for the first 12 months!
  • Rates as low as 4.00% APR* after (up to 90% Loan to Value with Prime + .25%)
  • No closing costs2
  • May be tax-deductible
  • Increased spending flexibility
  • Decisions made locally

Offer available April 1 to May 31, 2022. Membership qualifications and other conditions apply. Call 1-800-691-9299 to talk with a loan specialist today or contact us online here.
Download the flyer here.


1. Membership eligibility required with a minimum deposit of $25.00 in a Share/Savings account. Member must be in good standing with VLFCU. A home equity line of credit is secured by a first or second mortgage lien on your home, which must be one-to-four family residential real estate. This type of credit is not available for modular homes, manufactured homes or cooperatives. All loans are subject to credit approval. *APR= Annual Percentage Rate. The APR is a variable rate and may change after the account is opened. Minimum APR is 4.00%. Maximum APR is 18%. Actual APR will depend on borrower's credit qualifications, term of the loan, and loan-to-value amount. Variable APR based on the current Wall Street Journal Prime rate plus 0.25% for 90% loan-to-value HELOCs (4.00% as of 03/23/2022). $50.00 annual fee.

2. If line of credit is closed within the first 36 months, fees may apply. Property and, if applicable, flood insurance are required. Minimum line amount $10,000.00; maximum line amount $100,000.00; initial draw must be at least $5,000.00. Consult a tax advisor regarding the deductibility of interest. Programs, rates, and terms subject to change or cancellation without notice.