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Searching for convenience, access, and flexibility? A home equity line of credit is perfect for ongoing home improvement projects.

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
  • Choose from accrued interest-only payments or 1% of the outstanding balance
  • 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
  • Interest may be tax deductible. (Consult your tax advisor for details.)

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Home Equity Variable Line of Credit
Annual Percentage Rate (APR) Prime + .25% (0.25%)
Rate Your APR will vary with the market based on the prime rate. *
Payment Options 1% of outstanding balance
Draw Period 15 years
Maximum Financing Up to 80% of home's value excluding existing mortgages

*Prime Rate as published in the Wall Street Journal + 0.250 (currently 4.00%) as of 05/19/17, subject to change.

**No closing costs options are only available for equity lines up to 15 years. $15,000 minimum draw required at closing. 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. A minimum initial draw of $15,000 is required at closing. After 12 months, 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 4.3 out of 5 by 67.
Rated 5 out of 5 by from Home equity losn Denise was easy to work with. The process went smoothly and I was kept informed
Date published: 2017-04-19
Rated 5 out of 5 by from Great Experoence I recently applied for a home equity line of credit. I had a tight deadline I needed to get the loan approved. The local loan office expedited the process for me and I was very pleased with the process and the timely manner in which it was handled for me.
Date published: 2017-04-17
Rated 4 out of 5 by from Great rate Home equity loan was processed and everyone was helpful. Only draw back was it took way to long. It should have been processed much faster. First time I have even had to get an appraisal for a home equity loan as well.
Date published: 2017-04-15
Rated 5 out of 5 by from A member for life What I have come to expect from my 19 years of membership with Fairwinds. The best service from a financial institution.
Date published: 2017-04-09
Rated 5 out of 5 by from Easy, great job Processed request quickly and communicated well along the way. The team at lake Mary branch have always taken great care of my needs over the years.
Date published: 2017-04-08
Rated 4 out of 5 by from Just What I was Looking For! Fairwinds made my dream home project come true with quick and easy access to the home equity loan.
Date published: 2017-03-27
Rated 5 out of 5 by from Very easy process I recently got a home equity loan and the whole process was made very easy. Every part of the process went quickly and smoothly. Thank you.
Date published: 2017-03-20
Rated 5 out of 5 by from Home Equity Loan I have been a FAIRWINDS member for 21 years and I couldn't be happier. The home equity loan process was painless and prefessional.
Date published: 2017-03-07
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