Home Equity Rates

Lower rates help you get more out of your home's equity.

Fund major expenses with a loan or line of credit

Financing flexibility comes from your home.

Ready to take on a big project or expense? Take a look at Coastal's home equity options with rates that help you do more with the equity in your North Carolina, South Carolina or Virginia home.

Home Equity Line of Credit (HELOC) Rates

Up to % of your home's equity Annual Percentage Rate Variable as low as
(Primary Residence)
Up to 80% of your home's equity 4.24% APR*
Up to 90% of your home's equity 5.49% APR*
Up to 100% of your home's equity 7.49% APR*

Home Equity Loan Rates

Product Annual Percentage Rate Fixed as low as Term
Up to 100% of your home's equity 6.65% APR 5 Years
7.35% APR 20 Years
Up to 90% of your home's equity 5.15% APR 5 Years
5.75% APR 20 Years
Up to 80% of your home's equity 4.65% APR 5 Years
5.25% APR 20 Years
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Having this account allowed me to save for college and now I have the opportunity to pay for my education without having to worry about interest.
Claudia M.

Frequently Asked Questions

The primary savings is considered the membership account which provides our members with voting rights at the credit union and will always need to remain open and active as long as there are share products or loan products listed under the housing account.

There are two options to make principal only payments. (Excludes first mortgages and VISA Credit Cards)

You can pay an extra amount at the same time you make your regularly scheduled payment. The extra amount paid will automatically be applied to the principal balance. The regular payment and the extra amount must be applied on the same date with this option.

You can make principal only payments at other times as long as your loan is current. Please note, a principal only payment will not advance your due date, and will not take the place of normal monthly payments.

When mailing a check for principal only payments, clearly indicate in the memo section of the check, "PRINCIPAL ONLY" and the account number. Any payment applied as principal and interest, that is not notated "PRINCIPAL ONLY", cannot be reversed and reapplied later.

Please email loanservicing@coastalfcu.org with any questions.

Yes, if you wish to add more funds to your loan or increase it in anyway a new application will need to be submitted

You do not need to have a first mortgage with Coastal to obtain a HELOC.

Coastal only issues 1098 Mortgage Interest Statements for accounts that paid $600 or more in interest during the calendar year. The exact amount of interest paid on your mortgage loan is listed on your December statement.

* APR = Annual Percentage Rate. The APR for a Coastal Federal Credit Union Home Equity Line of Credit is variable and based on Prime Rate as published in the Wall Street Journal, ten days before the end of the prior month (called the "Index"), plus a margin. The index as of October 1, 2019 is 5.00%.  As of October 1, 2019, margins range from -0.76% with Relationship Pricing to +5.49% without any discounts. Your margin will be determined by several factors including but not limited to your credit qualifications, combined loan-to-value, and loan amount. Corresponding variable APRs range from 4.49% to 10.49% for Primary residences. The maximum APR for a home equity line of credit is 15%.

† APR = Annual Percentage Rate. The APR for a Coastal Federal Credit Union Home Equity Loan is fixed and is based on Coastal Federal Credit Union's Qualified Loan Program and include the Relationship Pricing discount. The minimum APR for a Home Equity loan is 4.95% with relationship pricing. The maximum APR for a Home Equity loan is with no discounts is 9.95%. Your rate may vary and is determined by your credit qualifications, amount financed, collateral, loan terms and combined loan-to-value. Please stop by your local branch or call our 24-hour call center at 800-868-4262 for more information. A payment example of a Home Equity Loan: As of June 1, 2019, an amount financed of $50,000 at a term of 180 months at 80% combined loan-to-value with an APR of 6.15% would result in 180 equal monthly payments of $425.99.

*, † Rates are subject to change daily. Lending area located in North Carolina, Virginia, and South Carolina. Coastal membership must be established prior to scheduled closing. No refinances of purchase money seconds within 12 months of the closing date. Property insurance is required. Flood Insurance may be required. The minimum loan amount for a Home Equity Line of Credit or Home Equity Loan is $5,000. All lending services are subject to credit approval. Contact a Coastal representative for specific rates and terms. Home values determined by appraisals. Certain restrictions may apply. To qualify for Relationship Pricing the borrower must have a Coastal first mortgage or close this loan simultaneously with a new Coastal first mortgage. Quoted APR’s include the payment of third-party closing costs, which range from $10 to $2,000 depending on the loan amount. To learn about what closing costs may apply to you, please stop by your local branch or call our 24-hour call center at 800-868-4262.

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