Space Coast Credit Union Home Equity Lines of Credit (Adjustable Rate 2nd Mortgages
Home Equity Lines of Credit
Overall recommendation rating avg. 4.68 
out of 66 member reviews
A home equity line of credit (HELOC) is best for Members who need money periodically. This is the case in lengthy home remodeling projects when you pay the contractor two or more times. Or perhaps you need cash at the beginning of each semester over the next four years as the kids head off to college. Home equity lines of credit are also an excellent choice for emergency preparedness funds. A HELOC gives you the flexibility to borrow what you need, when you need it.
BEST CHOICE IF:
- You plan to use money periodically over time
- You only want to pay interest based on the amount of money you've used
- You want to take advantage of a loan that offers the benefits of both a fixed rate and adjustable product*
ADVANTAGES :
- Flexibility - take the option of receiving cash in one sum, or access your account at any time for any expense
- Convenience - low initial draw requirements mean you can access your account only when you need the funds
Whatever type of home equity loan you need, SCCU offers the fastest, most convenient process around with the personal service and features you deserve, like
- Great, low rates
- Phone and online application available 24 hours a day, 7 days a week
- No application fee
- Most loans close in 1 day
- Fast approvals (most in less than 10 minutes)
- Low or no closing cost options
- Receive funds in as little as 3 days after closing
- No points or origination fees
- No intangible tax
- Borrow up to 90% of property value
- Defer your first payment for up to 90 days**
- Your credit history is only accessed by SCCU
- We get the needed documents (like warranty deed, flood, and title)
- We do all of the work; all you have to do is sign
Read reviews from SCCU members about their home equity line of credit! Only members with this product are invited to provide their comments and ratings.
Recommendation Rating
Teresa L
9/27/2009 2:25:43 AM
5 Stars
Overall, my experience with SCCU has been positive and I would definitely recommend using your services.
Pornpimol H
9/25/2009 8:00:10 PM
4 Stars
My rep has always been very helpful and has been very professional.
Theodore G
9/25/2009 5:23:52 PM
5 Stars
Real people answer the telephone. They call you back when they say they will. They are flexible and leave good notes for their `back-up' person so nothing is left to question.
Edward G
9/25/2009 1:13:09 PM
5 Stars
Deliver the checks sooner. One month since closing & I still don't have checks.
Lawrence B
9/2/2009 10:28:57 PM
4 Stars
Just would like to say that everyone I ever come in contact with at SCCU are always very professional and just plain NICE!! thank you
JANE, CURT AND GEORGIA D
8/29/2009 9:55:21 PM
5 Stars
The people that we dealt with was curtious and very knowledgable.
Albert G
7/14/2009 7:43:55 AM
4 Stars
Phone Operator got my credit score increased by increasing the limit on my sccu credit card account - something I've never heard of before. Excellent!
Richard S
7/11/2009 11:08:31 AM
5 Stars
Just keep smiling be happy, helpful and membership will grow.
Ken K
7/10/2009 10:11:23 PM
5 Stars
SCCU staff at Ryanwood branch were very helpful as usual. It's always a pleasure going to this branch.
William D
7/10/2009 8:22:31 PM
5 Stars
Your service was excellent. The loan was easy and there wasn't a ton of paperwork to sign.
Mary W
6/9/2009 9:29:48 PM
5 Stars
Less time waiting to sign paperwork
Croy G
6/9/2009 5:58:30 PM
5 Stars
Was easy.
Patricia B
4/24/2009 12:03:17 PM
5 Stars
It was overall easy & I would recommend it to anyone.
Barbara B
3/20/2009 5:57:28 PM
5 Stars
The property on which I got a line of credit is a condo in Dade County, FL (which I can't sell, of course, and am renting out), but this complication did not daunt your employees!
Albert D
1/27/2009 11:08:05 PM
5 Stars
As usual I received excellent and expeditious service. I have no complaints except for the monthly pmt date. Everything was fine. But my only conern was the pmt date established..the 25th of the month. From a monthly budget stanpoint it would be better for me if the pmt could be taken our between the frist to the 5th of each month.
carol p
12/17/2008 10:22:32 PM
3 Stars
Over all it was a painless procedure. The staff was very friendly. we were quoted a different payment amount then actually was the amount. So before any one quotes a figure they should definately make sure that is the right figure.
John S
11/21/2008 6:03:55 AM
5 Stars
I doubt I could have found a better deal anywhere else, and the application process could not have been easier.
Peggy P
10/11/2008 1:34:34 AM
5 Stars
nothing, everything went great
Robert S
8/22/2008 3:48:03 PM
4 Stars
Explained all the requirements and data needed at the first call back.
Joyce
6/17/2008 2:50:13 PM
5 Stars
Very convenient to be able to transfer amounts to checking account online.
Brian
4/14/2008 10:04:16 PM
4 Stars
The professionalism made the process very easy and complete.
Eric H
4/14/2008 5:12:44 PM
5 Stars
Space Coast has been an invaluable asset to our household. From our initial mortgage five years ago to the HELOC for upgrades, the entire process went smoothly. We were not certain which options would be best to fit our needs. The employee who took our call spent over an hour throughout three phone calls to make certain we found the product to fit our needs. Thank you.
EDWARD A
4/1/2008 9:36:12 PM
5 Stars
THIS WAS ANOTHER "HOME RUN" BY SCCU.
Chad W
3/20/2008 2:08:22 PM
5 Stars
All staff encountered during the process were very professional and courteous throughout. My experience here will certainly warrant my future recommendation of this type of loan to friends and family.
matt m
1/4/2008 2:28:02 AM
4 Stars
happy with sccu staff.
Angela B
12/15/2007 5:34:08 PM
5 Stars
Everyone at the Deltona branch on Deltona Blvd are always very helpful. They remember me by name and it is a great feeling each time I visit this branch.
Jo Ann N
12/9/2007 1:46:13 AM
2 Stars
You could have given me correct information re: flood certification. My home is not in a flood zone but we were told it was. Also, we were given a hard time applying even though we own our home (one acre on a lake-front) because it is a manufactured, 3,000 sq. foot home (not a trailer!!!) even though the promotional literature said nothing about line of credit not being available if home was a manufactured home. We knew more about this than staff, since my husband worked for HUD for 30 years.
Roger M
12/5/2007 4:02:00 PM
5 Stars
Easiest HE loan ever made.
Choose from one of our fixed rate home equity loans programs that is best for you!
 |
Standard Our typical revolving line of credit doesn’t require you to draw a large amount on your line. $5,000 or more available with terms of 7-year draw and 7-year repayment period. Other terms and multiple rates available. Apply Now - Contact Us |
 |
No Closing Cost Our TRUE No Closing Cost Home Equity Line of Credit features no hidden fees and no crazy disclosures that result in significantly higher payments. Apply Now - Contact Us |
Applying for a Space Coast Credit Union Home Equity Loan is fast and easy!
-
By Phone
Call our Express Services Associate team 24 hours a day, 7 days a week
Brevard: 321-752-2222, option 3
Toll Free: 800-447-7228, option 3
-
Online
Apply online 24 hours a day, 7 days a week with our easy online application.
-
At In Person
Contact one of our award-winning Home Loan Representatives and set up and appointment at any of our SCCU branches.
Home Equity Loan Rates
APR = Annual Percentage Rate.
All decisions to grant credit will be based on an evaluation of your credit history and available equity in your home.
Your interest rate will be based on the available equity in your home, the amount and term of your loan, and credit score.
Following the expiration of any Introductory Rate period, Home Equity Lines of Credit will have a Varibale Rate feature. The Annual Percentage Rate (corresponding to the periodic rate) and the minimum payment during the draw and the repayment periods can change as a result. The Annual Percentage Rate includes only interest and no other costs. The Annual Percentage Rate (APR) is based on the value of an index. The index is the highest Prime Rate as published in the Money Rates Section of The Wall Street Journal on the day that any Introductory Rate expires, and, subsequently, on the last business day of each month of each year. If more than one rate is shown, we will use the higher rate. To determine the Annual Percentage Rate that will apply to your line of credit, we add a margin to the value of the index. Ask us for the current index value, margin, discount and Annual Percentage Rate. After you open a line of credit, rate information will be provided in periodic statements that we send you.
Rate Changes
Your Annual Percentage Rate can change monthly. There is no limit on the amount by which the interest rate can change during any one-year period other than the maximum and minimum Annual Percentage Rates that can apply at any time to this account. The maximum Annual Percentage Rate at any time is 18.00%. The minimum Annual Percentage Rate at any time is 4.00%. The minimum annual percentage rate for the Interest Only HELOC is 4.75%.
No application fee.
Initial minimum draw amount $2,500.
Rates subject to change with out notice. Proof of home owner's insurance sufficient to cover all outstanding mortgages, including your SCCU equity loan will be required. Some restrictions may apply.
* The fixed rate APR will be in effect for the first five years after the account is opened. Upon expiration of the fixed rate introductory period, all balances will accrue at your qualifying rate. Following the fixed rate introductory period, your rate will be variable and may vary monthly, and is based on the value of an Index plus a margin (or spread). The Index is equal to the highest prime rate published in The Wall Street Journal "Money Rates" table on the last business day of each month of each year. The margin is based on your credit history and LTV. Initial minimum draw amount is $2,500. Not available on interest only HELOC or fixed rate home equity loans.
