Skip navigation

Why TruWest

Finance What's Important to You

Home Equity Line of Credit

You've put in the time and hard work–now it's time to enjoy the fruits of your labor. Turn the equity you’ve built up into a home equity line of credit (HELOC). A home equity line of credit offers lower rates than traditional credit cards and provides you with quick access to cash whenever you need it. Use it to finance a major purchase or for peace of mind with unexpected expenses, including debt consolidation, educational costs, medical expenses, home renovations, and more.

  • Lower variable-interest rate
  • No appraisal required1
  • Possible tax deductions2
  • Revolving line of credit

Have questions? You can talk to a mortgage loan originator at 1(855) 841-9203.

Rates & Fees

Determine Your Costs

In order to see our most up to date rates please click the button below:
View Rates


Frequently Asked Questions

  • Do I need to be a member TruWest Credit Union to receive a home equity line of credit (HELOC)?

    Yes. A membership is required if you are approved for a HELOC.

  • What is the difference between a home equity loan (HE loan) and a HELOC?

    With a home equity loan, the money you are borrowing comes to you in one specific lump sum. Typically, you will also pay a fixed interest rate. A home equity line of credit (HELOC), lets you borrow money multiple times from an overall available sum. HELOCs usually also have you pay an adjustable interest rate.

  • Why choose a home equity line of credit?

    Some of the benefits of a HELOC is its flexibility with the revolving line of credit and low closing costs. This is a great option for homeowners who want to borrow less money, withdraw their funds, as needed rather than all of it upfront.

  • Who are loan originators that work with TruWest?
  • Do you have any calculators or any other resources for help?

    Yes. The calculators tab can help you get a better idea of your payment.

  • May I make a principal only payment?

    Interest on a HELOC accrues on a daily basis on the then existing principal balance. Payments are applied first to interest owed, then to fees (if any), with the remainder applied to principal. Industry standard HELOC contracts do not make an exception for principal only payments, but as a special accommodation, TruWest members may make such principal only payments at our branch locations.

    The savings of principal only payments, however, are surprisingly small. Below is a sample of a $3,000 principal payment made, in addition to, a regular $125 monthly payment on a $25,000 HELOC loan, with interest at 5%.

    After payment of all accrued and unpaid interest and any fees, additional amounts paid will be applied to principal and reduce future interest accruals.

    The savings of principal only payments may be slight.  Note, in the example, the savings are only 11 cents (the difference between $99.70 in interest and $99.59 in interest).

    This is an example for illustrative purposes only.  Actual amounts, terms, and accruals will vary.  Regular minimum monthly payments must continue to be made and may not be designated as principal only. Please visit a TruWest branch for further information.

  • Can I qualify for a loan with Social Security or investment income?

    You may be able to qualify for a TruWest loan with Social Security or investment income. Click a loan type under “LOANS” at the top of the page to apply, or call 1-855-878-9378.

Next Steps

As easy as 1, 2, 3

How to apply for a HELOC

  1. 1
    Apply online or by phone at 1(855) 841-9203.
  2. 2
    Applications with complete information will be processed and disclosed within 3 business days. A licensed TruWest Mortgage Loan Originator may contact you if additional information is needed.
  3. 3
    Once the application process has started, the origination process will begin. Origination times may vary based on transaction, but normally take 30-45 days.
  4. 4
    Once the loan has passed underwriting, a TruWest representative will contact you to arrange a closing appointment.

Note: A TruWest membership should be opened prior to loan approval but can be opened any time before loan disbursement (funding).


We're happy to help! Just give us your name, email and phone number and we'll get in touch with you shortly.

1 No appraisal necessary for credit lines less than $100,000. Property valuation must meet TruWest requirements.
2 Consult your tax advisor.
Must qualify as a TruWest member. Financing solutions not available in AK, HI, LA, SC, VT, and WI. Condominium financing not available in NY and with restrictions in certain areas in FL. All loans subject to credit approval and program terms, conditions, and restrictions. Programs, rates, restrictions, terms and conditions are subject to change without notice. NMLS ID 640299