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 value. We go the extra mile here at Canvas Credit Union, so we created our own exclusive Preferred Equity Line of Credit so you can use your funds for whatever you dream.

        Make your dream home even dreamier!

        Turn your place into a palace with our HELOC at 2.99% APR, no closing costs, and an interest-only payment option for 12 months.*

        Have you had your eye on some new cabinets and countertops to fit the Tupperware collection? Want to be the go-to backyard for your neighborhood barbeques and bonfires? With a Canvas HELOC, you’ll be ready to stoke your remodeling fire.

        Push your renovation ideas from Pinterest™ boards to reality with a Canvas Home Equity Line of Credit. Apply now through May 31 using promo code HELOC19.

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        Preferred Equity Line of Credit (PELOC)

        Best Rate APR

        We'll get you some cash. With our Canvas Preferred Equity Line of Credit, you can use the equity in your home to borrow money, and use it any way you want. Really, anything you want. Build that new deck, buy that classic roadster, or go scuba diving in the Caribbean.

        • 20-year terms, 10 year draw, and 10 years to pay. Use your money however and whenever you want, for up to 10 years. You have another 10 years to repay.
        • No prepayment penalty, and be sure to get that IRS write-off, your interest paid is tax deductible.
        • You have 24/7 access to your using our Canvas Online & Mobile Services in addition to unlimited checks.
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        How will you use your money?

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

        *2.99% APR HELOC Offer: You must (1) complete an application for a new Canvas Preferred Equity Line of Credit (PELOC) by 5/31/2019; and (2) close the loan and draw at least $5,000 within 60 days of the application date. The Annual Percentage Rate (APR) of 2.99% is only available for a PELOC and only available for one year to the date of the initial advance. Only the first advance will receive the promotional rate. The APR only applies to new balances at your request. Minimum payments made to this PELOC segment will be interest only for one year. Any remaining balance will be repriced to the mainline segment at the standard rate when the promotional term ends. Funds can be advanced online, by phone, at a branch, or by check. Subject to credit and property approval. Membership in good standing is required (i.e. no delinquent accounts). All owners of the collateral property must be a co-borrower on the PELOC. Certain restrictions and limitations may apply. Closing costs are waived for this promotion; however, an appraisal fee may be charged. PELOC must be secured by your primary residence and must be owner-occupied. Minimum loan amount is $10,000. The rate is indexed to prime plus or minus a predetermined margin and is subject to change quarterly. The maximum rate is 18.00% APR; the floor is 3.64% APR. Rate applies for a maximum loan-to-value (LTV) of 80.00% on single family homes, 70.00% on condos, townhomes and multi –family homes. Payment on balance subject to promotional rate may be different than payment on other loan balances. Colorado residences only. Please refer to loan disclosures for details.

        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.
        Want to view all the fine print, visit our Disclosures web page.

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        Leave the banking to us. Join today. Go live.