Home Equity Plus Line of Credit

Build something new, refinish something old, or buy something you have always wanted. With DuTrac’s Home Equity Plus Line of Credit, building a strong foundation for your future is a lot easier to accomplish with the right tools.

Home Equity Plus Line of Credit Promotion:

With an introductory rate as low at 1.75% APR*. Then, after December 31, 2021, rates as low as 4.49% APR*.

*The 1.75% introductory APR (Annual Percentage Rate) is for credit qualified members who open a new Home Equity Line of Credit (HELOC) with DuTrac on or before September 30, 2021. After December 31, 2021, the floor rate will convert to either 4.49% APR for borrowers with a credit score of 720 or higher or 5.24% APR for borrowers with a credit score between 670 and 719 with the best rate effective on January 1, 2022. Rate after December 31, 2021 is based on the 13-week U.S. Treasury Bill Index. Account holder’s rate is based on standard credit qualifications and approval by authorized staff. Maximum 18% APR. Rates shown are for homeowners with a maximum 80% CLTV (calculated as first mortgage balance plus HELOC limit divided by property value). Introductory APR and floor rate APRs are accurate as of 04/01/2021. Minimum HELOC loan amount is $10,000. HELOC account holder is required to be a member of DuTrac Community Credit Union by purchasing $5 in membership shares. Membership Shares are placed in a share savings account. HELOC account holder must have direct deposit into a DuTrac share draft (checking) account with auto pay at all times the HELOC loan is available to account holder. Property insurance required. Property appraisal may be required with fees averaging an estimated $150 – $450. Total closing costs may range from $0 to $450. Finance charges will begin to accrue only after a draw on the new HELOC is taken by the account holder. No grace period applies. Not valid for existing HELOC or a refinanced HELOC currently at DuTrac. Not valid with any other offers. Offer may end at any time without notice. Offer is no longer valid after September 30, 2021.

The Home Equity Plus Line of Credit includes:

  • A one-time application
  • Access to your line of credit 24 hours a day, seven days a week
  • A low, variable interest rate
  • A 10-year draw period without re-qualifying
  • Repayment terms up to 15 years
  • Automatic payments and direct deposit

If you would like further information regarding DuTrac’s home equity options, please contact a financial services consultant by email at members@dutrac.org, by phone at (563) 582.1331 or (800) 475.1331, or stop into any of DuTrac’s convenient locations.



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