Home Equity

Home Equity Line of Credit (HELOC)

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Tap into the equity of your home.

With a low rate home equity line of credit, you’ll enjoy the freedom and flexibility to do what matters most to you.
Your home’s equity can be used your way and on your terms.
Mortgage Services
Home EquityHome Equity Line of Credit
  • Streamlined process
  • No closing costs2
  • No origination fee
  • No application fee
  • Maximum loan amount from $150,000 to $250,000
  • Payment terms up to 30 years3
Ready to take the next step? Keesler Federal’s hassle-free application process makes applying for a home equity line of credit fast and easy.
Current Rate As Low As

Available on primary and secondary residences in the state of MS, LA, AL and FL only. Membership and credit eligibility required.
1Example: Monthly payments are approximately $295.42 for $30,000 borrowed at 8.50% APR for 15 years.
2Keesler Federal pays all closing costs.
310 year draw period followed by 20 years repayment period.
The Home Equity Line of Credit annual percentage rate (APR) is based on the Wall Street Journal Prime Rate (the “Index”) plus a margin ranging between 0.0 and 2.0%. The Floor Rate will range from 2.75% to 7.0% APR dependent upon credit worthiness. The APR will vary quarterly but will not exceed 18% over the life of the loan. Based on the 7/28/2023 Index value of 8.50% and a typical margin of 0.0%, the formula that will be used for subsequent monthly rate adjustments would result in a current APR of 8.50%. Repayment options will vary based on creditworthiness, loan-to-value percentages, and whether the mortgage securing your line is a first or second mortgage. Acceptable property insurance is required.
Keesler Federal Credit Union
2602 Pass Road
Biloxi, MS 39531

Frequently Asked Questions about Home Equity Lines of Credit

How much can I borrow for a home equity line of credit?
You can borrow up to 90% of appraised value, less balance on 1st mortgage (based on credit score).
  • Max loan amounts up to $250,000
  • Minimum Loan amount $10,000
How much will my monthly home equity line of credit payment be?
Payments are based on the repayment period and balance owed at the time of rate change or advance.
I’m in the process of building my home. Can I qualify for a home equity line of credit?
No. All home construction must be 100% complete to qualify for a home equity line of credit.

Home Equity Line of Credit Calculators

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