Home Equity Line of Credit

        We can open the door to the life of your dreams using your home’s equity. Remodel your kitchen, tour the wineries in the south of France, or give your children Ivy League futures. You’ve worked hard to build this equity, now it’s your turn, Go Live.

        What’s a Home Equity Line of Credit?

        HELOC, what’s a HELOC? A Home Equity Line of Credit, also called a HELOC, is a great way to borrow money using your home’s equity. We go the extra mile here at Canvas Credit Union, so we created our own exclusive Home Equity Line of Credit so you can use your funds for whatever you dream.

        Introducing our new, ultra-flexible HELOC

        view our rates

        Your home is on your side, and ready to help you fund your next project. We’re here to make it easy and to answer your questions. With our new HELOC, you can make those projects happen quicker and easier, on your own terms.

        • 20-year terms means you’ve got 10 years to use your home’s equity to foster a life you love, and 10 years to pay it all back.
        • You may choose to make interest-only payments to give you the control and flexibility to manage your equity, just how you’d like it.
        • Use this HELOC to pave your own path to affording life. You can use it for whatever your heart desires, but it’s commonly used for: Debt consolidation, home improvements, college tuition, medical bills, investment properties, and keeping an emergency stash on-hand.
        • Do you get your best project ideas as soon as your head hits the pillow? Don’t we all. Pull from your HELOC funds 24/7 through our Online & Mobile Services. Prefer paper? We’ll equip you with line-of-credit checks, too.
        Make it happen

        How will you use your money?

        Use our calculators to test your borrowing options:
        Go to Calculators

        APR is Annual Percentage Rate (APR). Best Rate may vary based on personal credit history, value of collateral, loan to value (LTV), terms, and other factors. Canvas Credit Union provides details upon completion of a loan application. Rates are subject to change without notice. Canvas Credit Union membership is required.
        HELOC Product: You can obtain credit advances for 120 months (the draw period). During the draw period, payments will be due on a monthly basis. Your minimum monthly payment will be established at the close of each billing cycle at an amount equal to all accrued yet unpaid finance charges. After the draw period ends, you will no longer be able to obtain credit advances and must pay your outstanding balance (the repayment period). The length of the repayment period will depend on the date and the amount of your last advance but in no event will exceed 120 months. During the repayment period, your minimum periodic payment (for variable rate balances) will be the amount necessary to fully amortize your then unpaid balance by the agreement maturity date. The minimum periodic payment will be established on the first day of such repayment period, and will be reestablished on the day: (i) any outstanding fixed rate balance is consolidated into the variable rate balance; and (ii) any interest rate change occurs.
        Want to view all the fine print, visit our Disclosures web page.

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