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.

  • Great Value: up to 100% of your homes combined loan-to-value while other lenders only go to 80% or 90% 
  • No Prepayment Penalty: it doesn’t make any sense to penalize you for paying off a loan early…so we don’t!
  • Easy Access: transfer funds from your HELOC to your checking account, all with Coastal’s Mobile App
  • Closed End Home Equity Loan: if you’re looking to borrow a large amount of money, but want a fixed low rate and payment, Coastal is one of the few lenders who still offer a closed end home equity loan 

Home Equity Line of Credit (HELOC) Rates

Product Annual Percentage Rate Variable as low as
(Primary Residence)
Up to 70% of your home's combined loan-to-value1 3.50% APR2
Up to 80% of your home's combined loan-to-value1 4.00% APR2
Up to 90% of your home's combined loan-to-value1 4.50% APR2
Up to 100% of your home's combined loan-to-value1 5.55% APR2

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Home Equity Loan Rates

Product Annual Percentage Rate Fixed as low as Term
Up to 100% of your home's combined loan-to-value1 5.80% APR3 60 Months
5.85% APR3 61-120 Months
6.15% APR3 121-180 Months
6.45% APR3 181-240 Months
Up to 90% of your home's combined loan-to-value1 4.14% APR3 60 Months
4.40% APR3 61-120 Months
4.65% APR3 121-180 Months
4.90% APR3 181-240 Months
Up to 80% of your home's combined loan-to-value1 3.74% APR3 60 Months
4.00% APR3 61-120 Months
4.25% APR3 121-180 Months
4.50% APR3 181-240 Months

 

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Frequently Asked Questions

A home equity line of credit is a revolving line of credit secured by your home and is the most flexible type of home financing available. As payments during the draw period are applied to the outstanding principal balance on the credit line, your available credit increases.

Property must be a primary residence located in North Carolina, South Carolina, or Virginia.  Eligible property types are single family detached, Townhouses and Condominiums only.

You do not need to have a first mortgage with Coastal to obtain Home Equity Line of Credit (HELOC).

Because of the competitive interest rates and potential tax advantages of home equity lines, they are convenient ways to finance home improvements/repairs, education, purchasing a vehicle, buying a second property or consolidating higher interest rate balances.  Member should consult a tax advisor for additional information.

You can borrow as little as $5,000 or up to $250,000 depending on your credit history, available equity in the property and your current monthly debt up to 100% of the Loan to Value (LTV).  Higher loan amounts may be available if your first mortgage with Coastal.

Interest on home equity lines of credit may be tax deductible.  Consult your tax advisor regarding tax deductibility.

Yes. To qualify for Relationship Pricing, the borrower must have a Coastal first mortgage or close the loan simultaneously with a new Coastal first mortgage.

Our home equity line of credit has a variable rate and is 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 minimum monthly payment is 1.25% of outstanding balance but interest only payments may be available – consult your loan officer.

The variable rate and is 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.  Click to view rates.

The max term is 10-year draw period with a 10-year amortization. There are no draw fees. See disclosures.

1 All applicants must meet underwriting criteria. Loan or line amount may be less than 100% of your home’s equity.

2 APR = Annual Percentage Rate. The APR for a Coastal Federal Credit Union Home Equity Line of Credit is variable and is based on Coastal Federal Credit Union's Qualified Loan Program and includes the Relationship Pricing discount. Qualification for Relationship Pricing is based on having a 1st. Mortgage with Coastal Federal Credit Union. The minimum APR for a Home Equity Line of Credit is 3.50% with relationship pricing. The maximum APR for a Home Equity Line of Credit with no discounts is 8.30%. Your rate may vary and is determined by your credit qualifications, amount financed, collateral, loan terms, Relationship Pricing 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. All applicants must meet underwriting criteria. Line amount may be less than 100% of your home’s equity.

3 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. Qualification for Relationship Pricing is based on having a 1st. Mortgage with Coastal Federal Credit Union. The minimum APR for a Home Equity loan is 3.74% with relationship pricing. The maximum APR for a Home Equity loan with no discounts is 9.35%. Your rate may vary and is determined by your credit qualifications, amount financed, collateral, loan terms, Relationship Pricing 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 January 19, 2021, an amount financed of $50,000 at a term of 180 months at 80% combined loan-to-value with an APR of 4.25% would result in 180 equal monthly payments of $376.14. All applicants must meet underwriting criteria. Loan amount may be less than 100% of your home’s equity.

2,3 All loans are subject to approval. All applicants must meet underwriting criteria. Loan or line amount may be less than 100% of your home’s equity. 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. 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.  All standard closing costs for properties located in North Carolina are paid by Coastal. Non-standard costs such as a full appraisal, title insurance, attorney fees and closing costs for properties located in Virginia or South Carolina must be paid by the borrower. To learn more about what closing costs applies to you, please contact your local branch or call our home equity team at 919-800-4750 to discuss.

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