When life calls, let your Home Equity answer
Life’s biggest moments can come with a price. Let your home’s equity help you get the funds you need, whether it’s for renovations, education or debt consolidation.
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HELOC Rates
Our low Home Equity Line of Credit rates offer you security at an affordable cost.(as low as)
(as low as)
* Variable Annual Percentage Rate. APR shown is the lowest available rate. Actual APR based on borrower’s credit history, collateral and loan terms. Membership required based on eligibility.
* Variable Annual Percentage Rate. APR shown is the lowest available rate. Actual APR based on borrower’s credit history, collateral and loan terms. Membership required based on eligibility.
Start Your HELOC Application Here:
![couple covered in paint looking at heloc terms on a tablettablet](https://www.arizonafinancial.org/hs-fs/hubfs/3-Couple-Sitting-Looking-At-Tablet.jpg?width=525&height=526&name=3-Couple-Sitting-Looking-At-Tablet.jpg)
What is a HELOC?
An Arizona Financial Home Equity Line of Credit (HELOC) allows you, the homeowner, to borrow up to 80% of the value of your home – minus what you still owe on your mortgage – in the form of a revolving line of credit.
Access your money throughout your 10-year draw period and make payments during that time.
During your 15-year repayment period, you must pay back the loan in monthly installments that cover both the principal and interest. This adjustable-rate loan is a convenient solution that can be used for anything!
Differences between a HELOC & Home Equity Loan
Interest Rate Structure:
Monthly Payment:
Access:
Repayment Terms:
Interest Cost:
Closing Cost:
Fixed-Rate Home Equity Loan
Fixed interest rate
Remains the same
Receive lump sum up front
Monthly payment over a 5-, 10-, or 15-year term
You know exactly how much you'll pay
Typically covered by Arizona Financial Credit Union
Learn more about a Home Equity LoanHome Equity Line of Credit (HELOC)
Variable interest rate
Varies
Borrow as needed
Monthly payments calculated based on current balance and a 25-year amortization
Overall borrowing costs may increase or decrease if rates rise or fall.
Typically covered by Arizona Financial Credit Union
![hands pointing at color paint samples as a benefit of a heloc](https://www.arizonafinancial.org/hs-fs/hubfs/2-Picking-Remodel-Options.jpg?width=525&height=526&name=2-Picking-Remodel-Options.jpg)
Home Equity Line of Credit (HELOC) Features
Our Home Equity Line of Credit is a competitively priced adjustable rate loan.
There's no annual fee with our Home Equity Lines of Credit.
Pocket this extra savings! You'll pay no closing costs or fees when you apply for a Home Equity Loan from Arizona Financial.
You'll be congratulated, not penalized if you pay off the remainder of your loan early.
1. If the borrower requests a second appraisal, all fees and costs for the second appraisal are the borrower’s responsibility. Property insurance required and subject to verification. Property must be located in Arizona.
Life Improvement with a HELOC
Utilizing a Home Equity Line of Credit (HELOC) for whatever life throws your way. Whether that be home improvements, as a downpayment on an investment property, or unforeseen events, HELOC’s make it a breeze.
- Enjoy the affordability of a HELOC. HELOC rates are generally lower than personal loans or credit cards, saving you money.
- Borrow against your limit as many times as you need during your draw period.
- HELOCs offer potential savings from tax deductions on interest payments. Consult a tax advisor for details.
![home being remodeled with a home equity line of credit](https://www.arizonafinancial.org/hs-fs/hubfs/5-Home-Being-Remodeled.jpg?width=800&height=802&name=5-Home-Being-Remodeled.jpg)
![mara-testimonial](https://www.arizonafinancial.org/hs-fs/hubfs/mara-testimonial.jpg?width=400&height=400&name=mara-testimonial.jpg)
They got my HELOC approved and ready for signing in under two weeks. The process was incredibly fast and easy, from the initial call to turning in the needed documents, to signing. Overall, a very good experience!
Mara W.
Arizona Financial memberHELOC Resources
Tapping Into Your Home’s Equity: Top 4 Uses of Home Equity
Discover the various types of home equity loans as well as four ways you can utilize your home's equity.
Read MoreWhat Does a Prime Rate Increase Mean to Me & My Rate?
Your HELOC rate is variable and is impacted by the prime rate as well as your monthly bills. Learn more about the prime rate today.
Read MoreCommon Reasons for Being Declined
To help you keep your chances for a loan denial down, here are the top five reason why you might be denied for a loan and how you can fix this for next time.
Read MoreFrequently Asked Questions
How long does the Home Equity Loan process take?
Typically, a Home Equity Loan process can take anywhere from 2-4 weeks. The time frame depends on your response to requested documents and is reliant on the title process.
It's wise to coordinate proof of insurance and provide proof of income when applying to assist in speeding up the process.
Does my rate stay the same throughout the loan period?
HELOCs carry a variable rate through the entire term of the loan, not just the repayment period.
If I have bad credit, can I qualify for a loan?
Arizona Financial reviews a number of factors before making a decision on the loan, including credit and each member’s unique situation.
If you would like to discuss the details of your current financial picture before applying, simply call our loan experts at 602-683-1730.
Do I have to be a member of Arizona Financial to get a loan?
To take advantage of Arizona Financial benefits, including competitive loan rates– membership is required. It's simple to become a member. You just have to meet one of our membership eligibility requirements.