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*Applying for a loan as a nonmember also submits a membership application. You must be a member of FedChoice to receive a loan from us. Review membership criteria here.

Need to Fix Up Your Place? We’re Throwing Down a Great Deal

Family painting room walls

If being at home has pointed out a few things that you’d like to fix, now is the time to get it done! Members that apply for and disburse a new Classic Home Equity Line-of-Credit (HELOC) during this promotion, will receive a great fixed intro rate of 1.99% APR1 for the first 12 months and up to a $1,000 credit based on what you disburse at closing!2
So consolidate your debt into one payment, tackle that bathroom remodel that you now know you need, or spruce up your outdoor space into your own private retreat! And, because you can draw on your line for the next 10 years, as things settle back down, you can always fund the trip of a lifetime that 2020 didn’t allow you to take!


Here is what you get:

  • 1.99%1 fixed APR for the first 12 months on any advances against your Classic HELOC and as low as 4.00% variable APR thereafter.3
  • Up to $1,000 lender credit applied based on initial advance of your Classic HELOC at Closing3
  • Easy access to your funds

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Annual Percentage Rates (APRs) listed reflect our best rates and may be higher depending on individual credit rating and account history.
Classic Home Equity Line-of-Credit Loans (HELOC) are available up to $250,000. $5,000 minimum Home Equity Line-of-Credit amount. Maximum loan amount subject to credit qualification and appraised property value.
Combined Loan-to-Value (CLTV) may not exceed 90%.
Minimum draw amount per draw is $500. After the 10 year draw period the loan balance is payable over a 15-year period. At the current HELOC variable APR of 4.00% as of September 1, 2020, your monthly payments are just $12.50 per $1,000 for 120 months. All rates are APRS and are quoted on approved credit. Loan approval is subject to credit, income and property valuation. All HELOCs are variable rate loans and rates are subject to change monthly and without further notice. The maximum rate ceiling is 18.00% APR. Closing costs range from $1,000 - $2,500. Property insurance will be required. Our payment example and closing fees and costs range do not include the property insurance.
1 The 1.99% promotional APR applies for the first 365 days on a new Classic Home Equity Line-of-Credit. A reasonably current APR that would have been in effect using the index and the applicable margin is 4.00 %. The promotional rate is limited to one per property, and does not apply to subsequent credit limit increases, refinances, and increases in existing lines of credit. After the initial 365 day period, the rate is variable and will adjust to the current index rate plus the applicable margin not to go below the floor rate that FedChoice Federal Credit Union has established. The promotional rate is not based on the index plus the applicable margin.
2Upon loan closing, FedChoice Federal Credit Union will provide a lender credit of up to $1,000. This amount will be disclosed on the documentation that is provided and will be 1.00% of the loan amount being disbursed at the time of closing up to $1,000 for a Classic Home Equity Line-of-Credit. Your loan must stay open for 3 years or FedChoice Federal Credit Union will require the $1,000 to be refunded by adding the $1,000 to your outstanding loan balance. All loans are subject to credit approval. FedChoice Federal Credit Union must be in a valid first- or subordinate-lien position on the collateral. Owner-occupied primary residence only. Please consult with a tax advisor regarding interest deductibility.  Other conditions apply. This promotion does not apply to Classic Home Equity Line-of-Credit accounts that are already financed with FedChoice Federal Credit Union. Rates and terms are subject to change at any time without notice. This is not an offer to extend consumer credit as defined by Section 1026.2 of Regulation Z.  This is a promotion and a loan application is subsequently required to be submitted to FedChoice Federal Credit Union subject to these terms, conditions, disclosures, and requirements to potentially take advantage of this promotion.   FedChoice Federal Credit Union NMLS # 469739.
3Loan application must be submitted by 11:59 pm on October 31, 2020, and loan must be disbursed within 30 days of application to take advantage of this promotion. Promotion offered for a limited time.

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Start Your Application Online NOW!
*Applying for a loan as a nonmember also submits a membership application. You must be a member of FedChoice to receive a loan from us. Review membership criteria here.

Current_Members_Apply_Here_Button

Start Your Application Online NOW!

Not_A_Member_Apply_Here_Button

*Applying for a loan as a nonmember also submits a membership application. You must be a member of FedChoice to receive a loan from us. Review membership criteria here.

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Call us at +1-301-699-6151 / +1-800-969-6151
to apply over the phone.

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Visit the nearest Financial Service Center
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