What is a HELOC?
What is a HELOC?
A home equity line of credit (HELOC) is a line of credit that allows you to tap into your home's equity or the difference between what your home is valued at and how much you owe on it.
How it Works
Like a credit card, a HELOC is a revolving line of credit that allows you to borrow up to a certain limit, pay it off, and then borrow it again. That limit is determined by a percentage that the lender sets for you called the LTV (loan-to-value). The LTV is the ratio of how much you owe on your home versus how much it's actually worth.
The amount of money that a bank or credit union will allow you to borrow for your HELOC will depend on what they set as their max acceptable LTV.
Advantage has just launched our brand new HELOC program with
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No closing costs
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Low monthly payments at super low rates
See our Home Equity page to learn more.
Every journey starts somewhere. From your first savings account, first debit card, first car, wherever life takes you- we grow with you! This month, AFCU donated $3,000 to Villa of Hope as part of our Debit Card Giveback program. Invest in our Community! Our team is hosting a food drive to support families in need.Search
We grow with you!
Villa of Hope Debit Card Giveback
Advantage FCU is hosting a FOOD DRIVE!
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Parnall Bldg., Suite G-08
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Rochester, NY 14623
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