The Spirit to Make It Happen
Open Your HELOC at 2.99% Intro APR**** For 6 Months
Finally, a home equity line of credit that doesn't nickel-and-dime you. At Spirit Financial Credit Union, our HELOC offers competitive rates, no closing costs, no annual fees, and no inactivity fees. If you live, work, worship, or attend school in Bucks County, you can tap into your home's equity, and start building your financial future without the fine print.
For your convenience, Spirit Financial Credit Union offers you access to your line of credit by simply logging into your online account and transferring the money directly into your Spirit Financial checking account or by writing a check.
HELOC Product Benefits
-
Flexible Access to Capital
Draw funds as you need them. Your deck contractor calls in July? Pull funds. Your pool equipment arrives in August? Draw again. Pay interest only on what you've drawn and used.
-
Zero Closing Costs
Most HELOCs charge $1,000+ in upfront closing costs. Ours don't. Every dollar goes toward your project, not bank fees.
-
Borrow up to 90% of the value of your home*****
For many homeowners, that's the difference between starting now or waiting another year.
-
No Annual or Inactivity Fees
Open your HELOC and keep it open. If you don't use it for a month or six months, there's no penalty. It's yours when you need it.
Home Equity Line of Credit Rates
Effective Date (11/09/2020) and Rates Subject to Change.
| Balance Tier | APR**** |
|---|---|
| Up to 90% Market Value Financing***** | Introductory Rate as low as |
What Is a HELOC?
A HELOC (home equity line of credit) is a flexible loan secured by your home's equity. Unlike a traditional home equity loan where you get a lump sum, a HELOC works like a credit card: you have access to a credit line, draw what you need when you need it, and only pay interest on the amount you've used. It's especially useful if you're not sure how much you'll borrow upfront or plan to draw funds over time.
Learn More About Our HELOC
How a HELOC Works
Our HELOC comes with a 10-year draw period followed by a 15-year repayment period. Here's what that means for you:
During the first 10 years (the draw period), you make interest-only payments on whatever balance you carry. This keeps your payments low while you're accessing your credit line. Once the draw period ends, you move into the 15-year repayment period, where you'll pay down the principal plus interest on any remaining balance.
Our variable rate is Prime plus a margin, depending on your credit and terms. That means your rate can change, but you'll always know where we're starting from.
How We Compare
See how Spirit Financial stacks up against a typical bank HELOC:
What Can You Use a HELOC For?
The flexibility of a HELOC means you can use it for almost anything. Here are some of the most common reasons people tap into their home equity:
- Home improvements and repairs: renovations that increase your home's value.
- Debt consolidation: combine high-interest credit cards and loans into one lower-rate payment.
- Education expenses: fund college tuition, trade school, or professional certifications.
- Emergency funds: a safety net for medical bills, job loss, or unexpected major expenses.
- Business investment: capital for starting or growing a small business.
- Vehicle purchase: often at a better rate than traditional auto loans.
HELOC vs. Home Equity Loan
Not sure whether a HELOC or a fixed-rate home equity loan makes sense for you? It depends on your situation.
A HELOC works best if you need flexible access to funds over time. Like a renovation project with multiple phases, or a financial safety net you can tap as needed.
A home equity loan is better if you want a set amount and a predictable fixed payment. For example, a one-time purchase like a roof replacement or debt consolidation.
If you'd like to compare both options, explore our guide on home equity loans and see which fits your goals better.
Why Choose Spirit Financial?
Serving Bucks County since 1953. Here's why members trust us with their home equity.
No Hidden Fees
No closing costs, no annual fees, no inactivity fees. You'll never be surprised by these charges.
Credit Union Advantage
You're not just a customer, you're a part-owner. We put member benefits ahead of profits.
Local Support
Our branch is right here in Levittown, and our team knows Bucks County's homeowners personally.
Safe & Insured
Deposits insured up to $500,000 through NCUA and ESI, so your accounts are always protected.
Frequently Asked Questions
Have more questions? Call us at (267) 580-0230 or email Loans@spiritfinancialcu.org
- We can lend up to 90%***** of your home's equity. The exact amount depends on your home's current value, your existing mortgage balance, and your creditworthiness. We'll get a professional appraisal to determine your available equity. Please note that borrowing above 80% LTV comes with a 1.25% rate increase.
- While we don't have a strict minimum, a stronger credit score typically qualifies you for better terms and a higher credit line. If your credit is less than perfect, we're happy to discuss what options might work for you. Give us a call at (267) 580-0230 to talk it through.
- Absolutely. Your HELOC is a second lien on your home and sits beside your mortgage. As long as you have equity in your home and meet our other requirements, you can qualify even with an existing mortgage.
- Our HELOC has a variable rate, so your payment can change if Prime rate changes. However, you'll always have access to the terms available to manage rate risk. Some members prefer the predictability of a fixed-rate home equity loan instead, we offer that option too.
- Once your application is approved and the loan closes (typically 30–45 days), your credit line is ready to use. Some members draw right away, while others wait to draw funds until they need them. It's entirely up to you.
- Under current tax law, interest on a HELOC is generally deductible if the loan is used to buy, build, or substantially improve your home. Other uses may not qualify. We recommend speaking with a tax professional about your specific situation.
Three Ways to Get Started
****APR=Annual Percentage Rate. Rates are for qualified borrowers and are based on the creditworthiness of the individual. Actual rates may be different than the rates shown. Minimum APR is 6.75%, maximum APR is 18.00%. As of 12/10/25 the Prime Rate was 6.75%. Introductory rate will be in effect for six (6) billing cycles from credit line open date. After the introductory discount period expires, the variable rate is subject to change monthly. RATES SUBJECT TO CHANGE WITHOUT NOTICE.
***** Borrow up to 90% of the current value of your home, less any outstanding liens, based on credit worthiness.