Home Equity Line of Credit
Flexible Home Equity Access With Zero Closing Costs
Your home's value is more than equity on paper—it's financial power you can put to work. With DFCU's no-cost HELOC, you'll enjoy a competitive 6.75% APR, a 10-year draw period, and the freedom to borrow, repay, and borrow again whenever life calls for it. Best of all, you'll pay no closing costs when your line stays open for three years or more.
HELOC Benefits
A Safety Net That's Always Ready
A home equity line of credit functions like a credit card backed by your house—but with far better rates. You control when and how you use it, whether it's for a big project or unexpected expenses.
6.75% APR variable rate
With interest charged only on what you use.
A full decade to draw funds
Followed by 10 years of structured repayment.
No closing costs
If your account remains open for three years or longer.
Flexible, affordable, and designed to give you breathing room when you need it.
How It Works
Two Phases, Total Flexibility
During the first 10 years, you can draw from your HELOC as often as needed, making interest-only payments to keep monthly costs low. Once the draw period ends, the repayment phase begins—giving you another decade to pay back principal and interest on a predictable schedule. And if you want to pay it down faster? There are no prepayment penalties.
Think of it as a revolving credit line that grows and shrinks with your needs over time.
The No-Cost Advantage
Keep Your Equity Working for You, Not Paying Fees
Most HELOCs come with thousands in upfront costs—application, processing, and underwriting fees that reduce the very equity you're trying to access. With DFCU's program, those costs are waived if you keep your line open three years or longer. The only potential out-of-pocket cost is an appraisal, and in many cases that can be waived too.
Smart Uses for a HELOC
More Than a Loan—It's a Tool for Every Stage of Life
A HELOC is a flexible resource members often use to:
Pay for home renovations as work progresses.
Build an emergency fund without tying up cash.
Cover tuition or education costs at lower rates than student loans.
Have funds available for investment opportunities when timing matters.
You're only charged interest when you actually use the money—keeping this line open gives you options without obligation.
HELOC vs. Other Options
Why a Line of Credit Beats Lump‑Sum Loans
Unlike a cash-out refinance or personal loan, a HELOC lets you preserve your existing mortgage rate and borrow only what you need, when you need it. Paid-down amounts become available again, and there's no PMI requirement—giving you flexibility without disrupting your main mortgage.
Put Your Home's Value to Work on Your Terms
A no-cost HELOC from DFCU means access to credit for a full decade, no closing fees if kept open three years, and repayment flexibility designed around your life. From projects to protection, your equity becomes a resource you can rely on.
Become a Member Today
Become a Member Today
LDS Members and others are welcome to join us as members.
Save More, Stress Less
Save More, Stress Less
Earn Top Rates with Our High-Yield Savings—No Fees, No Fuss.
6.75% APR variable rate. 20-year term: 10-year draw period, 10-year repayment period. No closing costs when line is maintained 3+ years; otherwise fees may be reimbursed. Appraisal fees apply only if required. No PMI. Membership and eligibility required. Federally insured by NCUA.