The amount you can borrow with a Home Equity Line of Credit depends on your available equity, creditworthiness, property value, and the balance of any existing mortgage or liens on the property. At People Driven Credit Union, HELOC financing is available up to 100% loan-to-value in some cases, depending on creditworthiness and property value, although typical loan-to-value limits are often in the 80% to 90% range.
People Driven Credit Union’s HELOCs are available for primary residences, second homes, and investment properties. The minimum HELOC amount is $5,000, and your approved limit will be based on your individual application and property details.
If you want to find out how much you may be able to borrow, contact People Driven Credit Union at 248-263-4100 or connect with a Home Equity Specialist for a personalized estimate. Because your home secures the line of credit, approval is subject to application, credit, and property considerations.
