By establishing a variable-rate line of credit you can access your money when you need it, wherever you are, to help with home improvements, large purchases, college tuition and more.
- Borrow up to 80% of your home's value including existing mortgages
- Draw on the line for periods up to 15 years
- Your Annual Percentage Rate (APR) will vary with the market based on the Prime Rate.*
- Discounts on closing costs up to $1,000**
- Quick approval and fast closing
- Automatic payments
- No application fee
- No annual fee
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| Home Equity Variable Line of Credit
|
| Annual Percentage Rate (APR)
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as low as Prime + .25% (6.50%)
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| Rate
|
Your APR will vary with the market based on the prime rate.*
|
| Payment Options
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1% of outstanding balance
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| Draw Period
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15 years
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| Maximum Financing
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Up to 80% of home's value Including existing mortgages
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*Prime Rate as published in the Wall Street Journal + 0.25, subject to change.
**No closing costs options are only available for equity lines up to 15 years. Closing costs up to $1,000 may be paid by FAIRWINDS. This includes the application fee, origination charge, appraisal, title insurance, settlement and search fees, recording fees, and mortgage document stamps. Closing costs over $1,000 are the responsibility of the member.
Loans are subject to credit union membership eligibility, credit approval, and verification of information provided on the application. Other terms and conditions may apply. Terms and conditions subject to change at any time without prior notice.
In order to open the loan plan, you must pay a flood zone determination fee of $20 to the Credit Union and certain fees to third parties which generally total between $300 and $3,800. You may request more specific cost information about third-party fees from the Credit Union. Property insurance on the property that secures the plan is required to open the plan.
†APR = Annual Percentage Rate. Your APR will be a variable APR based upon the Prime Rate, plus a margin, for the remaining life of the line, subject to a maximum APR of 18.00%. Your margin will be based on several factors, including your credit history, loan to value ratio, property type, and lien status. All normal closing costs will be paid by FAIRWINDS, up to $1,000. Certain terms and restrictions apply. Offer subject to termination or change at any time without notice.
FAIRWINDS Member Reviews
Home Equity Loan is rated
4.6 out of
5 by
191.
Rated 5 out of
5
by
Angelmike76 from
Grate service
I had applied for a HELOC with Fairbanks Credit Union. At first instance the customer service gentlemen informed me that due to the value of the home and what I had as equity it could not happen. I wish i could remember his name but he kept my file and worked on it with their underwriter. Then I received a call form Fairwinds stating with some adjustments they can make it work. And they did a few weeks after that call I was closing on my HELOC and able to take care of a very important medical procedure
Date published: 2022-09-03
Rated 5 out of
5
by
Wyck from
Easy and Fast
I have a member for several years and financed my truck and equity line. The service was professional and correct, everything happened as promised.
Date published: 2022-07-27
Rated 5 out of
5
by
David09 from
Fast and Easy HELOC process
Decided to look into a HELOC for a source of funds to upgrade my investment home. Glad I did with Fairwinds. The process was fast, easy, affordable and I had my credit line ready to go in a matter of weeks. Same great service as with my first mortgage, CD's and other accounts with Fairwinds.
Date published: 2022-05-29
Rated 5 out of
5
by
Suzanne 51 from
Home equity line of credit
I was very happy with the individuals that helped me obtain a home equity line of credit.
Date published: 2022-05-24
Rated 5 out of
5
by
inmate OU812 from
Smooth sailing.
There's one, and only one place where we trust our best interest is being served and that's Fairwinds (FCU). It's that simple.
Date published: 2022-05-22
Rated 5 out of
5
by
Anonymous from
Great Team!
The Home Equity Loan team was very easy to work with and super friendly and customer focused. We had a a complication during the process. Our processor was accommodating and helped us resolve behind the scenes. We were appreciative of not making a big deal out of a required change.
Date published: 2022-04-13
Rated 5 out of
5
by
Caturday from
Fairly painless.
Simple process. Most of the paperwork was done online. Did have to go in for closing. Was surprised by the score they used did not match the standard FICO score. Appreciate the online paperwork very much.
Date published: 2021-10-05
Rated 5 out of
5
by
KCH from
Expedient and Positive HELOC
I've been a member of Fairwinds for years and have been impressed with all of their products. They have competitive rates and great loan packages, and the staff is attentive and quick to respond to any questions.
Date published: 2021-07-23
