Convertible Home Equity Line of Credit

A flexible solution to help you save money in a rising rate environment

Convertible Home Equity Line of Credit Special

Special: Prime - 1.00% Introductory Fixed Rate Until 12/31/2024: 7.50% APR*

Then Prime: Current Variable Rate 8.50% APR*

Take charge in a rising rate environment.

Breathe easier when you lock in your balance to a fixed rate and term.

With our Convertible Home Equity Line of Credit (HELOC), you gain the advantage of a "Lock In" option. Throughout the draw period, you have the opportunity to secure all or a portion of your outstanding line to a fixed-rate home equity loan with a set term. By doing so, you enjoy the stability and predictability of fixed rates, while still retaining access to the remaining limit on your HELOC. This flexibility empowers you to make the most of your finances, providing both security and ongoing financial freedom.

Enjoy the following features with our Convertible HELOC:

No lock fees and no closing costs

Convert your balance to a fixed rate and term

Only pay when you owe

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Financial flexibility at your fingertips
Enjoy spending power with cash back, redeemable rewards points, and lower interest rates.

Apply for a loan online, give us a call, text us at 860-563-2617,or schedule an appointment, or visit one of our Wethersfield, Newington, Berlin, Bloomfield, Niantic, or Middletown, CT locations to learn more.

*APR - ANNUAL PERCENTAGE RATE. Rates are accurate as of 1/2/2024 and are subject to change based on the U.S. Prime Rate as published in the Wall Street Journal. The rate is fixed until 12/31/2024. After this date, on January 1, 2025, the APR is variable based on the U.S. Prime Rate. The Prime Rate as of January 1, 2024 is 8.50%. Prime may change at any time and is subject to change without notice. If Prime increases or decreases after the Introductory Period, the variable APR will adjust monthly. APR will not exceed 18.00% or go below 3.25%. FIXED RATE OPTION: During the draw period, this plan has a fixed rate option which you may exercise for up to three (3) advances at any one time. The option must be exercised for an advance of at least $5,000.00.  Fixed rate portions may be for 60, 120 or 180 months but may not exceed the account term.  Fixed rate portions reduce the availability on the line of credit. Available for owner-occupied 1-4 family residential properties located in CT, MA or RI. Minimum line amount is $10,000 and maximum line amount is $350,000. 75% LTV required for 1-4 family homes and 75% LTV for condominiums. A $50.00 inactivity fee will be assessed when there is no financial activity in a 12-month period. Homeowners' insurance is required; flood insurance may be required. No minimum advance required for a new Home Equity Line of Credit. A $25,000.00 minimum line increase in new money is required for existing DPCU refinanced Home Equity Lines of Credit. This promotion expires 4/30/2024. Certain conditions and restrictions may apply. Subject to credit approval. Offer may change without notice. May not be combined with any other credit union promotions or discounts. Membership with a $5.00 savings account is required. We do business in accordance with the Fair Housing Act and the Equal Credit Opportunity Act. Federally insured by NCUA. NMLS# 466823.