Home Equity Lines of Credit

Unlock the Power of a HELOC: Discover Quorum's Flexible Financing Solutions Ask about our Renovation HELOC

Quorum’s HELOC solutions feature low loan rates with generous discounts, flexible terms, transparent fees, commonsense underwriting, and a seamless online application process.
Apply for a HELOC

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Get Your Goals Across the Finish Line with a HELOC.

Harness the financing power you need with a Home Equity Line of Credit (HELOC) from Quorum.

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Enjoy a Seamless Experience with Quorum

With our highly-rated customer service team, easy online application, and quick turnaround time, you’ll be able to start using your HELOC in no time!
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Get a Sky-High CLTV!

Enjoy up to 95%3 CLTV with Quorum's Second Lien HELOC3 and 80% for our First Lien HELOC1! We also offer generous borrowing options on our Bridge Loan5 and Investment Property HELOCs4.
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Unlock Financing up to $1,000,000!

Borrow up to $750,000 with our First Lien1and Second Lien HELOC3, up to $250,000 with our Investment Property HELOC4, and up to $1,000,000 with our Bridge Loan HELOC5!
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Experience Our Common-Sense Underwriting

At Quorum, we have realistic credit requirements and take a common-sense approach to underwriting—because you’re more than a credit score.

Find the Right HELOC for Your Needs

Our goal is to provide you with flexible, accessible financing options that align with your personal and financial goals. Explore our options below and choose the HELOC that’s right for you.

Our goal is to provide you with flexible, accessible financing options that align with your personal and financial goals. Explore our options below and choose the HELOC that’s right for you.

Simplify your finances and increase your borrowing power with a First Lien HELOC.

A First Lien HELOC positions itself as your primary mortgage, offering both flexibility and efficiency in managing your finances.

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Here Are Some Benefits You’ll Enjoy:

Quorum’s First Lien HELOC1 gives you easier access to your home's equity and helps you streamline and reduce your overall debt by consolidating your first and second mortgage into one HELOC.

Interest Rate: As low as 7.75% APR1
Minimum FICO: 640
Maximum Credit Line: Up to $750,000
Draw Period: 10 years
Repayment Period: Interest-only payments during the 10-year draw period; principal and interest payments during the 20-year repayment period
Floor Rate: 4.95%
Rate Cap: 18.00%; 2.00% increase or decrease per year
Property Type: 1-2 Unit, Fee Simple, PUD, Condo, Townhouse
Units/Max LTVCLTV: 1-2 Units- MAX LTV 90%
Rate Discounts1
  • 0.25% if you open a Quorum checking account and maintain a monthly balance of $5,000
  • 0.50% for $50,000+ in a Quorum term savings account
Apply Now

Speak to a Specialist.

Ready to renovate? Use the after-renovation value of your home to increase your borrowing power.

Quorum’s NEW Renovation HELOC allows you to borrow more than a traditional HELOC because we consider the post-renovation value of your home instead of its current value.

A middle-aged man holding a sign that says "Additiona bedroom, new kitchen, new floors. Check!" wine glass icon Lending Vo 4

Here Are Some Benefits You’ll Enjoy:

Unlike typical home improvement loans, our Renovation HELOC2 is a line of credit that you can borrow against for up to 10 years and does not require mortgage refinancing or Private Mortgage Insurance (PMI).

Interest Rate: As low as 7.75% APR2
Minimum FICO: 640
Maximum Credit Line: $750,000
Draw Period: 10 years
Floor Rate: 4.95%
Repayment Period: 20 years
Maximum LTV: 90%
Property Type: 1-2 Unit, AUD, PUD, Condo, Townhouse
Units/Max LTVCLTV: 1 Unit MAX LTV/ CLTV 95%2 all other states 90%. 2 Units- MAX LTV/ CLTV 90%
Rate Discounts2:
  • 0.25% if you open a Quorum checking account and maintain a monthly balance of $5,000
  • 0.50% for $50,000+ in a Quorum term savings account


    • LTV/CLTV IS 95% of the ARV (After Renovated Value). Maximum CLTV applies only to the following states: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont, New York, New Jersey, Pennsylvania, Virginia, Ohio, Illinois, Indiana, Wisconsin, Tennesse, North Carolina, South Carolina, Utah 2
Apply Now

Speak to a Specialist.

Borrow more of your home’s equity!

Need to make a big purchase (new kitchen, anyone?) but find yourself low on cash? With low rates and great financing, Quorum’s Second Lien HELOC can help you pay for those new countertops—or anything else you might need.

Woman who needs a new kitchen, considering a HELOC to help fund her needs. Restaurant Flourish Coins Flourish

Here Are Some Benefits You’ll Enjoy:

Get access to flexible payment terms, generous credit line, and great rate discounts with a Second Lien HELOC3

Interest Rate: As low as 7.75% APR3
Minimum FICO: 640
Maximum Credit Line: Up to $750,000
Draw Period: 10 years
Repayment Period: Interest-only payments during the 10-year draw period; principal and interest payments during the 20-year repayment period
Floor Rate: 4.95%
Rate Cap: 18.00%; 2.00% increase or decrease per year
Property Type: 1-2 Unit, Fee Simple, PUD, Condo, Townhouse
Floor Rate: 6.95%
Units/Max LTVCLTV: 1 Unit MAX CLTV 95%3 all other states 90%. 2 Units- MAX CLTV 90%
Rate Discounts3:
  • 0.25% if you open a Quorum checking account and maintain a monthly balance of $5,000
  • 0.50% for $50,000+ in a Quorum term savings account


    • 95% Maximum CLTV applies only to the following states: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont, New York, New Jersey, Pennsylvania, Virginia, Ohio, Illinois, Indiana, Wisconsin, Tennesse, North Carolina, South Carolina, Utah 3

Apply Now

Speak to a Specialist.

Want to Access the Equity in Your Investment Property?

If you own an investment property and need to make a large purchase, our Investment HELOC allows you to cash in on your equity—and make interest-only payments during your 5-year draw period.

A couple holds word balloons showing what they can do with a Quorum HELOC. House Flourish Dollars Flourish

Here Are Some Benefits You’ll Enjoy:

Use our Investment HELOC4 to help you with purchasing another property, big renovations, and any other big-ticket items you may have on your list.

Interest Rate: As low as 11.00% APR4
Minimum FICO: 680
Maximum Credit Line: Up to $250,000
Draw Period: 5 years
Repayment Period: Interest-only payments during the 5-year draw period; principal and interest payments during the 10-year repayment period
Floor Rate: 6.95%
Rate Cap: 18.00%; 2.00% increase or decrease per year
Property Type: Non-owner occupied 1-unit, fee simple, PUD, Condo, Townhouse
Units/Max LTVCLTV: 1 Unit MAX LTV/CLTV 80%. 2 Unit Max LTV/CLTV 65%. 3-4 Unit Max LTV/CLTV 50%
Rate Discount: 50bps for 1st lien position investment property.
Rate Discounts4:
  • 0.25% if you open a Quorum checking account and maintain a monthly balance of $5,000
  • 0.50% for $50,000+ in a Quorum term savings account
Apply Now

Speak to a Specialist.

Struggling with Funds Between Home Sales?

Navigating the financial gap while you’re trying to sell your home and buying a new one can be stressful. Quorum’s Bridge Loan HELOC (1st Lien) can help. This special loan gives you the money you need for your new home until your current one sells by tapping into your home’s equity. Plus, you’ll enjoy manageable payments, immediate access to funds, and a quick online application process.

A man dressed in yellow shows a word ballon about Quorum's Bridge Loan HELOC Homeowners Additions 1 Lending First Mortgage 1

Here Are Some Benefits You’ll Enjoy:

Use Quorum's Bridge Loan HELOC (1st lien)5 to provide you with the flexible financing and the quick turnaround times you need.

Interest Rate: As low as 10.00% APR5
Minimum FICO: 680
Minimum Loan Amount: $50,000
Maximum Loan Amount: $1,000,000
Floor Rate: 6.95%
Maximum LTV: 80%
Occupancy: Primary Residence - 1 unit
States: All states except Texas
Liens: First lien position only
Property: May be listed on MLS but not required
Eligible Properties: 1 Unit, PUDs, Warrantable Condos, Townhouses.
Units/Max LTVCLTV: 1 Unit- MAX LTV 80%
Rate Discounts5:
  • 0.25% if you open a Quorum checking account and maintain a monthly balance of $5,000
  • 0.50% for $50,000+ in a Quorum term savings account
Apply Now

Speak to a Specialist.

What can I do with my HELOC?

The possibilities are endless! Quorum members are free to use their HELOC however they choose, whether that’s paying for home renovations, starting a business, paying for college, or something else entirely—the choice is yours.

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Woman applying for a HELOC at a desk wondering how much she can borrow. Calculator Icon

Find out how much you could borrow with our HELOC calculator. Use HELOC Calculator

Home Renovations Icons

Finish the renovations that’ll make your house feel like home.

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Take that dream vacation and create treasured memories.

Emergency Fund Icon

Build an emergency fund to be prepared for the unexpected.

Couple holding a sign saying "We Want to Adopt" and considering a HELOC for their funding needs. Family Icon

Adopt a child and pay for the administrative expenses.

Consolidate Debt Icon

Consolidate your debt and simplify your monthly payments.

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Pay for your child’s tuition without going into student loan debt.

Start A Business Icon

Cover the initial costs of starting your own business.

HELOC Rate Discount Offer!

When you open a Quorum checking account with any of our HELOC products, you’ll get an additional 0.25% rate discount. Here’s what you’ll need to do:

STEP 1: Open any Quorum checking account.

STEP 2: Establish a minimum balance of $5,000 and satisfy the checking account requirements.

STEP 3: Let your mortgage representative know you’ve completed Steps 1 and 2 and we’ll adjust your rate!

Be sure to complete steps above before you close so you can get the rate discount!
Open a Checking Account
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What Should I Expect When I Apply?

Step1

Apply for a HELOC Online.

Our online application makes it easy and simple to apply for a HELOC and upload required documents in one secure platform.

Step2

Wait While We Review Your Application.

Once you’ve submitted your application, you’ll receive a confirmation via email or text, outlining the next steps. Our underwriting process typically takes 1-2 days.

Step3

Sign the Closing Documents.

As soon as we’ve processed your application and have all your paperwork in order, we’ll set up your closing appointment.

Step4

Access Your Funds!

Shortly after closing, your funds will be available to use however you choose! You can access your cash online or via the HELOC checks you’ll receive in the mail.

Additional Resources

Check out our educational resources to learn more about home equity loans, home equity lines of credit, how they work and the information you need to decide if a HELOC is the right pathway to achieving your goals.

Man wondering if a HELOC is right for him.

Home Equity Loans

HELOCs: Know the Lingo

Is a HELOC right for you?

HELOC vs Home Equity Loan: Which is Best for You?

Real Estate Investing: One of the Best Uses for a HELOC

Home Equity Products vs. Reverse Mortgages: What You Should Know About Both

LTV and CLTV: What Are They and What’s the Difference?

Open a Quorum HELOC Today.

Ready to take the first step in financing your goals with a HELOC from Quorum? Apply online to get started.
Apply Now

Not ready? Speak to a specialist >

Ready to Get Started on Something Good?

Since we first opened our doors, Quorum has been dedicated to putting our members’ best interests above all else. If you’re ready for a banking experienced that’s focused on you, click below to start your application.

Why Choose Quorum?

Quorum: one of Bankrate's Best Credit Unions of 2024

One of the Best Credit Unions of 2024

Bankrate
CNET Best Of 2024

The Best Credit Unions

CNET
CNN Underscored Best HELOC Lenders 2024

The Best HELOC Lenders

CNN Underscored
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Best HELOC for Investors

Bankrate

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Best Credit Unions

Business Insider
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Best Online Banks 2024

MarketWatch Guides
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Best Credit Union Savings Accounts

MarketWatch Guides
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Best Overall Credit Union Savings Account

CNBC

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Best Credit Union of 2024 for ATM Access

Associated Press
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Best Checking Account for Vast Network

CNBC

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2023 Diamond Award Financial Education

CUNA

Highly recommend.

I applied for a HELOC. I am a mortgage professional and I have worked with many lenders over the years. Quorum was very efficient, sensible and a pleasure to work with. I highly recommend them.

Dan F.

Very competitive HELOC.

Vinny and Jacqueline assisted my husband and I with a HELOC recently. My husband and I both work in the mortgage business, so needless to say, we are picky about the process, because we know how it should be! The process with them was flawless, the tech platform was user-friendly, communication was stellar and they offer a very competitive HELOC. We highly recommend them!

Jennifer A.

Straightforward and efficient.

Just completed a HELOC with QFCU. Process was very straightforward and efficient. Christina and Nancy were excellent. Portal process for uploading and reviewing documents was a breeze.

Steven G.

Member Reviews

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Member Service Team was really helpful in assisting me!

We are back from a cruise tour in the U.S. and Canada. During our vacation, my debit card was blocked (nearly a financial disaster). I called Quorum and got great help, first from Kevin B. After telling him my story, he transferred me to the Fraud Department. Unfortunately, they could not help, as I had one important piece of personal information that was not available. I called Quorum again and got Ebony. Ebony did a super job; she called the Fraud Department and convinced them I'm not a debit card fraudster. Thank you very much for your time and tremendous help, Ebony. Last, but not least, a thank you to Savannah. Coming back from Canada to the U.S., I emailed Quorum asking for support for another debit card alert and Savannah took care of that. Overall, the Member Service Team was really helpful in assisting me!

Klaus W

Easy to fill out application!

Straight to the point, easy to fill out application, and well put together!

Melissa F.

Awesome experience.

Awesome experience working with Brianna and the team! Extremely helpful and went above and beyond.

Tysen C.

Professional and knowledgeable.

Professional, knowledgeable, sympathetic; a quick and enjoyable experience calling Quorum today!

James B.

For security, I give them an A+.

I have been with this Credit Union for 12 or 13 years. For security, I give them an A+. Customer service is very helpful. Happy customer 😁

Rose E.

Absolutely great customer service.

Very helpful. Absolutely great customer service. Made my day.

Rehan H.

Best and most helpful in all my 15+ years with Quorum.

Today’s assistance was the best and most helpful in all my 15+ years with Quorum Federal Credit Union.

Carrie H.

Very friendly and extremely professional.

I just had a phone call to Quorum, talking to Bonnie. She helped me to activate my new debit card which I could not do myself from Germany. Bonnie was very friendly and extremely professional to get my request done. Now the card is activated for the next vacation in the US :-) Thank you very much, Bonnie.

Klaus W.

Very polite and professional.

The representative that I had the pleasure to talk with today took her time; she used safety measures to make sure I was who I said I was; very polite and professional.

Sheila L.E.

I’ve been a member for almost 30 years.

I’ve been a member for almost 30 years. I stay because the customer service professionals are excellent!

Ross W.

Very helpful and professional.

Very helpful and professional.

Ibrahim

Great customer service.

Great customer service.

Barbara R.

Excellent customer service.

Excellent customer service. Eddie was excellent.

Louis A.

Glad we found Quorum.

Quorum is great. We feel so much more secure with a federal credit union than a commercial bank. Great staff and customer service is always patient and helpful. Rates on interest-bearing accounts are great, too. Website is user-friendly. Info is clear and precise. Glad we found Quorum.

Kathy W.

I’ve been a member for over 35 years.

I've been a member of Quorum Federal Credit union for over 35 years. I highly recommend to anyone that would like low banking fees, a great banking experience and fantastic customer service.

Laurie D.

Excellent problem solvers.

I've been banking with Quorum for years. They're always very pleasant to interact with and they're excellent problem solvers. Thank you, Quorum. You're the best.

NYCBlkM4WhtM

Lifetime approval from me!

I have had checking and savings accounts for years with Quorum Federal Credit Union and have never had any problems. Therefore, when I needed a mortgage loan, I turned to Quorum. Their staff was a joy to work with. Very professional, informative and attentive to my every question, concern throughout the entire process. Quorum gets my lifetime customer approval from me.

Ruby S.

Love everything about them.

Have been a member for 15 years and love everything about them: have a HighQ account, QClassic checking and a mortgage with them, too.

Sharon C.

Polite, professional, helpful.

Polite, professional, helpful. What customer service should be.

Penny W.

A safe place to put your money.

This is a safe place to put your money. They have very proactive fraud prevention systems that I am impressed with. Recently, I moved a large amount of money that is going towards the purchase of a car and my account not only required a code, but I received a phone call within a half hour of my transaction from one of their professionals, Savannah. She politely quizzed me, and from every angle may I say, to establish that it was indeed me who was working within my account. The savings and CD rates are great also and, their website works like clockwork. Thank you, Quorum, for being the best!

LS B.

CD and high-yield savings rates are excellent.

CD and high-yield savings rates are excellent. Decent service for an online only bank.

Celtics

Refreshing.

I was amazed at the simplicity and speed at which things were handled today. Not something you see every day in business anymore. So refreshing.

Livin Curiously

Knowledgeable and friendly.

Bonnie was both knowledgeable and friendly. My issue was corrected immediately.

Catherine C.

Very helpful and attentive.

I have been a member of Quorum for many years. They have always been helpful and very attentive. I highly recommend Quorum for financial business.

Herminia M.

Our mortgage was a breeze!

Extremely professional team, our mortgage was a breeze with all the support from Mirella and Brandi. Highly recommended!

Erika V.

Tremendously patient and helpful.

Quorum customer service was tremendously patient and helpful today. I'd phoned with two problems, which were successfully addressed with a combination of patience and professionalism.

Richard B.

Always friendly and courteous.

Always friendly and courteous. Great job by the Quorum team. Great to do business with them.

Bill J.

Go with a credit union-and this is a good one.

Really nice group here; they actually work with you, much like a community bank. They are also fast and efficient.If you are tired of being gouged by the Big and Ugly banks, you should go with a credit union--and this is a good one.

Heidi K.

Just a wonderful credit union.

Just a wonderful credit union. Very knowledgeable people with kindness and professionalism. I’m an older gentleman, you can always call and speak with a human voice, it doesn’t have to be done on the computer. It’s a wonderful organization. If you’re looking for a credit union that offers great CD rates, great customer service, and most of all is very professional, I would recommend them to anyone that is looking for those qualities and some of the highest CD rates in the country. Quorum Federal Credit Union is all five star - first class, in my opinion.

Kin F.

Have been a faithful and delighted customer.

I joined Quorum in 1998 and have been a faithful, and delighted customer since. Any issue I have experienced has always been handled with respect, knowledge and follow-through. Can't give them enough high praise. Today I was contacted by Quorum so they could personally update me on a specific change in their policy that may affect me. What other company takes the time and consideration to do that? I don't know of any other. Adisa was the Quorum representative who contacted me. Her approachability and the fact that she consistently asked if I was comfortable in giving answers to the requests for information from me made me feel safe and comfortable. Any business who employs someone of Adisa's caliber is worthy of all my banking business! Thank you, Quorum... you guys really are The Best!

Kathy C

We love Quorum!

My wife and I just closed on a mortgage with Quorum (my first and her second time using Quorum!), and we couldn’t have been happier or more satisfied with the entire process. From a great rate, to an easy online application, to incredible service and communication throughout (have to personally thank Mirella, Brandi, Kathy and the rest of the Quorum Lending team for making the process so easy and stress-free), we were 100 percent satisfied with the entire experience. Thank you, Quorum Lending, for always being available to answer emails and questions, and for helping us to close on our home! We love Quorum!

This Credit Union quickly became my bank!

This credit union quickly became my bank! What started with a low-interest first mortgage refinance has turned into a first mortgage, two credit cards, a high yield savings account, fee free checking account and a checking reserve account. I pay all my bills via the online bill payment and even send physical checks from my online checking account to the landscaper and others. Member support is beyond expectation and the mobile app is robust and user friendly. Great work Quorum!

mhudson

Very good service and rates.

Very good service and rates.

Stan L.

Great rates.

I've been a member of Quorum for many years. They almost always have great deposit rates and the app is super easy too!

Tbe

Highly recommend Quorum for your HELOC needs!

Eli Shereshovech and his team were amazing. We were able to close my HELOC very quickly and I was kept up to date the entire way through. I highly recommend Quorum for your HELOC needs! :)

Monica S.

Wonderful experience.

I had a wonderful experience working with QFCU to get a HELOC. The team working on our behalf included Elizabeth Ruggiero, Mirella Prestia, and Christina Moore and each and every one of them were a joy to work with. They provided prompt responses to our questions, step by step instructions, and showed great attention to detail throughout the process. I would highly recommend their services!

Arden M

Thank you.

Brandi, thank you for your assistance with getting the HELOC done!

Eun Suk L.

Communicative, patient and provided all the information we needed.

We were lucky to get in touch with Vanessa, who helped us out during a HELOC application. She was very communicative, patient and provided all the information we needed, on time. Thank you, Vanessa!

Diego and Laura

10/10!

Eli Sheresovech and his team at Quorum were outstanding in our first interaction. The HELOC process was simple, easy, fast and ahead of time! 10/10!

James O.

Very attentive.

Eli, Daniel's & Nancy were very attentive with their responses. The process for my Heloc was quick and painless. I'm very pleased.

Brianne T.

Very competitive HELOC.

Vinny and Jacqueline assisted my husband and I with a HELOC recently. My husband and I both work in the mortgage business, so needless to say, we are picky about the process, because we know how it should be! The process with them was flawless, the tech platform was user friendly, communication was stellar and they offer a very competitive HELOC. We highly recommend them!

Jennifer A.

A very good experience.

Worked with Vincent and Yesenia for my HELOC application. They were very responsive and clear about everything from the beginning. When the application ran into a few issues, they went above and beyond to make sure that I had all the exceptions and approvals in place for a smooth release of funds well in time. Overall, it was a very good experience working with them and Quorum. Thanks.

Nikhil B.

Very straightforward and efficient.

Just completed a HELOC with QFCU. Process was very straightforward and efficient. Christina and Nancy were excellent. Portal process for uploading and reviewing documents was a breeze.

Steven G.

Stellar communication and attention to detail.

Quorum Mortgage has clearly delivered an experience that exceeded even the highest standards of service in the industry! It's amazing when everyone works together seamlessly, especially during such a critical process like a mortgage. Props to Lorena, Bryce, Brian, and the rest of the Quorum team for not only closing the transaction on time, but doing so with stellar communication and attention to detail.

David C.

Great experience being a member.

Quorum is a great credit union. The staff are always so helpful, friendly, and very patient. Great experience being a member.

Carla F.

Friendly, helpful and knowledgeable representatives.

New customer. Friendly, helpful and knowledgeable representatives. They answered ALL my questions and stayed on the phone with me through the entire setup and deposit process. I hope the exceptional customer service continues. Based on my experience, so far, I would definitely recommend.

Cynthia M.

Excellence, patience and care.

Shelly's service was of excellence and she walked me through the entire claims process with ease and calmness. I greatly appreciate her customer service skills of excellence, patience and care. Thank you.

Janice J.

OUTSTANDING!

Shelly was nothing short of OUTSTANDING! Big thank you to her and her follow through.

Bob S.

Personable staff who are motivated to bring solutions.

Brand new customer. So far so good. They were able to answer all questions promptly and accurately. Will see how follow-through goes but no complaints, which is a good thing! Personable staff who are motivated to bring solutions.

Vicki P

Highly recommend.

Amazing experience with this company for the past two years. I highly recommend.

Jorgefelix S.

Extremely helpful and knowledgeable.

The Quorum representative was extremely helpful and knowledgeable. I appreciate all she did to resolve my situation.

Carl W.

I so appreciate their time and hard work.

I want to thank Adisa, Debra, Eddie and Ellie for the excellent customer service that they gave me during the past week and a half. It made a difficult experience easier to deal with. The patience, understanding and kindness that they showed me was outstanding. They should be commended on doing their job with such expertise and professionalism. I so appreciate their time and hard work.

Mary F.

They do NOT disappoint.

Quorum has been my primary bank for over 5 years where they do NOT disappoint. Not only do they offer the best interest rates with the HighQ Savings and term CDs, they are prompt to provide answers to any questions that you may have regarding transactions with a detailed explanation of both benefits and minimum balances as well as other options to avoid fees. I encourage others to use these benefits and services offered.

Sonja M.

Friendly, knowledgeable, efficient.

Service member was friendly, knowledgeable, efficient and solved my problem quickly.

Marianne M.

Love my Credit Union.

Great experience today! We even got disconnected and she called me back after my issue was solved! Love my Credit Union.

Allison W.

Excellent customer service.

Excellent customer service. Very kind, courteous, pleasant and patient!

Vince D.

Quorum is the BOMB!

Quorum Federal Credit Union is the BOMB! Best customer service, helpful & assists with any concerns. I've banked at conventional "brick mortar" banks for 50 years. The extra benefits, better rates and customer service are by far SUPERIOR to any bank anywhere. Look them up, compare as I did then sign up. They are truly the real deal.

Gary H.

View all reviews

Join an online community geared towards helping your financial well-being through top-tier financial tools, competitive rates, and award-winning customer resources. Become a member today and find out why Quorum is consistently selected as one of the top credit unions in the country.

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HELOC FAQs

How do I check the status of my HELOC advance request?

To check the status of your HELOC advance:

Requests submitted via online banking: The amount of the requested advance will reflect immediately as a deposit in the transaction history of the selected account. However, please note that this amount will not be reflected in the available balance until the request has been processed, which may take up to 4 business days. Should you wish to confirm when the funds will be released, please contact our Member Services Team at (800) 874-5544, Monday – Friday, 8:30 a.m. – 7:00 p.m. ET.

HELOC Advance Checks: Please contact our Home Equity Loan Servicing Center at (877) 909-2544, Monday – Friday, 8:30 a.m. until midnight, ET, and Saturday, 8:30 a.m. – 5 p.m. ET.

How long does it take to process a HELOC advance via check or online?

The processing times for HELOC advances are as follows:

Online Requests: Advances made in online banking are subject to a hold of 3-4 business days. If funds are needed sooner, once the advance request has been submitted via online banking, please contact us at (800) 874-5544, Monday through Friday, 8:30 a.m. to 7:00 p.m. ET, to request to have the hold release expedited. 

Mobile Check Deposits: HELOC checks deposited via mobile deposits will take 3-5 days for funds to be available in your account.

Mailed Checks: Checks you mailed directly to your service providers will vary based on the delivery time and your service provider’s financial institution. 

How do I make extra payments towards the principal on my Home Equity or HELOC?

To make a principal payment toward your Home Equity Loan or HELOC: 

  1.  to online banking.
  2. Under Accounts on the Dashboard, click on “Second Mortgage.”
  3. Select “Manage My Account” from the menu bar.
  4. Click on the “Payment” tile at the top of the page. You will only be able to select the principal payment option if your current monthly payment has been made.

Please note that principal payments cannot be processed until your current monthly payment has been made. Once your billed amount has been satisfied and posted (within 2 business days), you may make a principal payment. You will see the principal payment reflected in your account within 2-3 business days after your regular monthly mortgage payment has been made.

How do I check the status of a loan application?

To check the status of your loan application:

  • First Mortgages – Log in to our mortgage application portal or contact your Loan Officer.
  • Home Equity Loans – Log in to our home equity application portal or contact your Loan Officer.
  • Student Loans – Log in to our partner website, CU Student Choice or call (866) 558-2965.
  • Credit Cards – Please call our Member Service Team at (800) 874-5544, Monday through Friday, 8:30 a.m. – 7:00 p.m. ET.
  • Savings Secured Loan, Term Secured Loan, Overdraft Line-of-Credit (Checking Reserve) – Please call our Member Service Team at (800) 874-5544, Monday through Friday, 8:30 a.m. – 7:00 p.m. ET.

DISCLOSURES:

1 First Lien HELOC Rates and APR:  The Annual Percentage Rate (APR) is as low as 7.75% as of 09/19/2024 and subject to change. The Floor Rate is 4.95%. Maximum APR is 18.00%. The APR is a variable rate and is based on an index (Prime rate as published in The Wall Street Journal) plus a margin.  The margin is determined based on credit history, loan amount and loan-to-value (LTV) ratio. Rate will not increase or decrease more than 2% annually. A home equity line-of-credit is secured by the member’s home and is available only for 1-4. family residential properties and condominiums, excluding co-ops. Minimum line-of-credit amount: $50,000.00. No draw required at closing. No application or termination fees. Appraisal fee varies. No pre-payment penalty. Mortgage tax may apply in some states. This Home Equity Line of Credit is not available in TX. All loans are subject to credit approval. Fees are due at closing and debited from the HELOC (except appraisal fee, if applicable, due at time of application). Additional fees for HELOCs, including all lender fees, origination fees and third-party fees will be passed to the borrower. Click here for the Fee Schedule.  First Lien HELOC: For discounted rates a. (0.25%), a new Checking Account with Quorum must be established prior to closing with a minimum monthly balance of $5,000. b. (0.50%) a new Term Savings Account with Quorum must be established prior to closing. Must maintain at least $50,000 in a Term Savings Account any duration. Requirements must be satisfied at account opening and maintained through the life of the loan to be eligible for the rate discounts.

2 Renovation HELOC Rates and APR: The Annual Percentage Rate (APR) is as low as 7.75% as of 09/19/2024 and subject to change. The Floor Rate is 4.95%. Maximum APR is 18.00%. The APR is a variable rate, plus or minus a margin, and is based on the Prime rate (index – as published in The Wall Street Journal) plus a margin. The margin is determined based on credit history, loan amount and combined loan-to-value (CLTV) ratio. Rate will not increase or decrease more than 2% annually. A home equity line-of-credit is secured by the member’s home and is available only for 1-2 family residential properties and condominiums, excluding co-ops. Minimum line-of-credit amount: $50,000. No draw required at closing. No application or termination fees; appraisal fee varies. Click here for the Fee Schedule. No pre-payment penalty. Mortgage tax may apply in some states. This Home Equity Line-of-Credit is not available in TX. All loans are subject to credit approval. LTV/CLTV IS 95% of the ARV (After Renovated Value). Maximum CLTV applies only to the following states: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont, New York, New Jersey, Pennsylvania, Virginia, Ohio, Illinois, Indiana, Wisconsin, Tennesse, North Carolina, South Carolina, Utah

3 Second Lien HELOC Rates and APR: The Annual Percentage Rate (APR) is as low as 7.75% as of 09/19/2024 and subject to change. The Floor Rate is 4.95%. Maximum APR is 18.00%. The APR is a variable rate, plus or minus a margin, and is based on the Prime rate (index – as published in The Wall Street Journal) plus a margin. The margin is determined based on credit history, loan amount and combined loan-to-value (CLTV) ratio. Rate will not increase or decrease more than 2% annually. A home equity line-of-credit is secured by the member’s home and is available only for 1-2 family residential properties and condominiums, excluding co-ops. Minimum line-of-credit amount: $25,000.00. No draw required at closing. No application, or termination fees; appraisal fee varies. No pre-payment penalty. Mortgage tax may apply in some states. This Home Equity Line of Credit is not available in TX. All loans are subject to credit approval. Fees are due at closing and debited from the HELOC (except appraisal fee, if applicable, due at time of application). Additional fees for HELOCs, including all lender fees, origination fees and third-party fees will be passed to the borrower. Click here for the Fee Schedule. Second Lien HELOC:  For discounted rates: a. (0.25%), a new Checking Account with Quorum must be established prior to closing with a minimum monthly balance of $5,000. b. (0.50%) a new Term Savings Account with Quorum must be established prior to closing. Must maintain at least $50,000 in a Term Savings Account any duration. Requirements must be satisfied at account opening and maintained through the life of the loan to be eligible for the rate discounts. 95% Maximum CLTV for Second Lien HELOC in the following states: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont, New York, New Jersey, Pennsylvania, Virginia, Ohio, Illinois, Indiana, Wisconsin, Tennessee, North Carolina, South Carolina, Utah.

4 Investment HELOC Rates and APR: The Annual Percentage Rate (APR) is as low as 11.00% as of 09/19/2024 and subject to change. The Floor Rate is 6.95%. Maximum APR is 18.00%. The APR is a variable rate, plus or minus a margin, and is based on the Prime rate (index – as published in The Wall Street Journal). The margin is determined based on credit history, loan amount and combined loan-to-value (CLTV) ratio. Rate will not increase or decrease more than 2% annually. A home equity line-of-credit is secured by the member’s home and is available only for 1 family residential properties and condominiums, excluding co-ops. Minimum line-of-credit amount: $50,000. No draw required at closing. No application or termination fees; appraisal fee varies. Click here for the Fee Schedule. No pre-payment penalty. Mortgage tax may apply in some states. This Home Equity Line-of-Credit is not available in TX. All loans are subject to credit approval. Rate discount: 50bps for 1st lien position investment property. Investment HELOC: For discounted rates: a. (0.25%), a new Checking Account with Quorum must be established prior to closing with a minimum monthly balance of $5,000. b. (0.50%) a new Term Savings Account with Quorum must be established prior to closing. Must maintain at least $50,000 in a Term Savings Account any duration. Requirements must be satisfied at account opening and maintained through the life of the loan to be eligible for the rate discounts. Minimum loan amount $50,000.

5 Bridge Loan HELOC (1st lien) Rates and APR: The Annual Percentage Rate (APR) is as low as 10.00% as of 09/19/2024 and subject to change. The Floor Rate is 6.95%. Maximum APR is 18.00%. The APR is a variable rate, plus a margin, and is based on the Prime rate (index – as published in The Wall Street Journal). The margin is determined based on credit history, loan amount and loan-to-value (LTV) ratio. Rate will not increase or decrease more than 2% annually. A home equity line-of-credit is secured by the member’s home and is available only for 1 family residential properties and condominiums, excluding co-ops. Minimum line-of-credit amount: $50,000.00. No draw required at closing. No application or termination fees. Appraisal fee varies. Click here for the Fee Schedule. No pre-payment penalty. Mortgage tax may apply in some states. This Home Equity Line of Credit is not available in TX. All loans are subject to credit approval. Fees are due at closing and debited from the HELOC (except appraisal fee, if applicable, due at time of application). Additional fees for HELOCs, including all lender fees, origination fees and third-party fees will be passed to the borrower. Bridge Loan HELOC (1st lien): For discounted rates: a. (0.25%), a new Checking Account with Quorum must be established prior to closing with a minimum monthly balance of $5,000. b. (0.50%) a new Term Savings Accounts with Quorum must be established prior to closing. Must maintain at least $50,000 in a Term Savings Account any duration. Requirements must be satisfied at account opening and maintained through the life of the loan to be eligible for the rate discounts.