Unlock the Potential of Your Home: Benefits of a Home Equity Line of Credit
What is a Home Equity Line of Credit (HELOC)?
A Home Equity Line of Credit (HELOC), is a line of credit associated with the equity of your home. Similar to a credit card, a HELOC gives you the flexibility of paying down your credit line while accessing the funds you need.
There are two phases associated with your HELOC. The initial draw period includes borrowing, repaying, and borrowing again, within limitations of your credit limit. The second phase starts your repayment period and ends your borrowing period. Repayment terms are based on your agreed loan terms.
Benefits of a HELOC?
A HELOC can be a powerful financial tool for homeowners looking to improve their home, consolidate debt, or cover additional major expenses. You are able to achieve flexible borrowing with no fees or closing costs*.
What Can I Use a HELOC for?
Common uses for a HELOC include home improvements, debt consolidation, or additional major expenses. Usage of funds does not adhere to strict guidelines. However, it is important to remember and understand the responsibilities involved. Similar to a credit card, a HELOC has a variable interest rate. Your payments can potentially increase over time.
Is a HELOC Right for You?
A HELOC may be worth considering if you have sufficient equity in your home, need flexible access to money, and feel confident about managing the payments. The right borrowing depends on your goals, budget, and financial needs. For additional information regarding your financial wellness and additional financing options, we recommend calling us at 800-283-4550 or stepping into a local branch.
Special Offer!
Take advantage of our special offer. Receive an introductory rate of 3.33% APR for six months on a single advance of $10,000 or more**. Offer ends September 30, 2026. Click here for more details.
How Do I Apply for a HELOC?
Applying for a Home Equity Line of Credit (HELOC) can be easy. Let us help you! You can apply online, or at a Goldenwest or USU Credit Union branch.
*No fees or closing costs on non-purchase loans on a primary residence, under $200,000, and a CLTV under 80%. **3.33% Introductory Annual Percentage Rate (APR) fixed for 180 days on a single advance of $10,000 or more made between July 1, 2026 and September 30, 2026 on qualifying new or existing Cashliner 4 and Cashliner 5 Home Equity Lines of Credit (HELOCs). The introductory APR applies only to the qualifying advance and begins on the date the advance is made. After the 180-day promotional period, the APR on any remaining balance from that advance will convert to a variable APR disclosed in your Home Equity Line of Credit agreement, which is based on the Wall Street Journal Prime Rate plus or minus a margin. Your margin is determined by your creditworthiness and loan-to-value (LTV), and your actual APR will be equal to the Prime Rate plus or minus that margin. Based on a current Prime Rate of 6.75% APR, variable APRs currently range from 6.75% to 8.50% APR. The introductory APR is a discounted rate and is not based on the index and margin used to determine the variable APR after the promotional period. Rates are variable and may change monthly based on the Prime Rate. Home Equity Lines of Credit have a maximum APR of 18%. Cashliner 4 and Cashliner 5 HELOCs that received the 3.33% promotional rate between April 1, 2026 and June 30, 2026 are not eligible for this offer. Limit one promotional advance per member. Estimated closing costs range from $500–$1,000. Goldenwest may pay these costs for qualifying applications; however, if the line is closed within 24 months of opening, the member will be required to reimburse Goldenwest for the closing costs paid on their behalf. Consult a tax advisor regarding the deductibility of interest. Property insurance is required. All loans subject to credit approval. Additional restrictions may apply. Equal Housing Lender. NMLS #440574.