Home Equity Line of Credit

Use the equity you have in your home to do home improvements, buy your next car or pay off other debts. A Home Equity Line of Credit at Frankenmuth Credit Union offers you a great rate, flexible repayment terms, no cash advance fees and the flexibility of accessing funds with a credit card. Apply today!

Why not use the equity you have in your home the next time you need to borrow? With a Home Equity Line of Credit from Frankenmuth Credit Union you...

  • Get a low rate
  • May be able to enjoy tax benefits from the interest you pay*
  • Have the convenience of paying for your next purchase with a credit card
  • Flexible repayment terms
  • No limit on the time frame of when you can make advances
  • No cash advance fees
  • Because you are using a local provider, you know your dollars will stay in your local communities
  • Low application fees
*Consult with your professional tax preparer

MasterCardAPR*Benefits
as low as
Diamond CashBack10%**Earn 2% cash back on all purchases
Simply Platinum8.99%Earn points towards rewards.
Gold Home Equity7.90%Less than 80% Loan to Value
Gold Home Equity8.90%Greater than 80% Loan to Value
Prime Gold Home Equity8.50%, Rate tied to Prime***Less than 80% Loan to Value
Prime Plus Gold Home Equity9.25%, Rate tied to Prime + .75%***Greater than 80% Loan to Value
*APR=Annual Percentage Rate. Rates may change at any time. Must meet FCU's normal underwriting qualifications to be approved. Contact FCU for more information. *Offer may end at any time and must meet FCU normal underwriting guidelines to qualify. Simply Platinum Card: Those with a credit score of 636 or higher with accounts in good standing at FCU may qualify for the 6.9%APR offer for the life of the balance transfer amount. For those with a credit score of 635 or less, may qualify for a rate of 12.9%APR for the life of the balance transfer amount. Brand new Simply Platinum cards will receive the promotion rate of 6.9%APR for credit scores 636 or higher or 12.9%APR for credit scores 635 or lower on brand-new purchases for 12 months. Diamond Card: Those with a credit score of 550 or higher with accounts in good standing at FCU may qualify for the 6.9%APR offer for the life of the balance transfer amount. For those with a credit score of 549 or less, may qualify for a rate of 12.9%APR for the life of the balance transfer amount. Brand new Diamond cards will receive the promotion rate of 6.9%APR for credit scores 550 or higher or 12.9%APR for credit scores 549 or lower on brand-new purchases for 12 months
**Diamond Mastercard earns 2.0% cash back on all purchases and 550 or higher credit score to qualify for 10%APR. 549 or lower credit score to qualify for 17%APR. No annual fee.
***Loan rates and approval subject to credit score and analysis. Equal opportunity lender. For HELOC no fees charged up front and fees are disclosed at time of application. As part of the closing procedures Frankenmuth Credit Union will acquire a security interest in the property. Draws are allowed for 20 years or as long as the account remains open and member is in good standing. Payment in calculated on 1% of the balance or $25, whichever is greater. HELOC rates are variable and based on the current index margin; rate floor is 4.00%APR and will not exceed 25%APR.

Effective Date: March 28, 2024

For credit card rate, fees and other cost information, click button below.

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