1st Ed Credit Union helps South Central Pennsylvania homeowners put their home equity to work with competitive home equity loan and HELOC rates. Whichever option fits your plans, you can compare both side by side below, then start your application at your convenience.
Take advantage of the equity in your home as a low-cost financing alternative.
A Home Equity Loan or Line from 1st Ed can take care of all your lending needs. Your home serves as collateral in exchange for an excellent rate and flexible terms.
Compared to other types of loans, low closing costs and excellent rates make this an ideal choice – and the cost of your dream more affordable.
Have loan security with 1st Ed Credit Union’s Protection Plus
Click below 24 hours a day to start your application. You can also call 717-264-6506 (option 6) for a representative to take your application by phone.
Apply Now*APR=Annual Percentage Rate. APR and loan approval based on creditworthiness, loan term, loan to value ratio and lien position. Rates are subject to change without prior notice.
Home Equity Loans Fixed Rate Up to 85% LTV
Info and/or Terms
APR
5 years - Min: $15,000; Max: $50,000 (as low as)
5.867%*
10 years - Min: $25,000; Max: $250,000 (as low as)
6.034%*
15 years - Min: $50,000; Max: $250,000 (as low as)
6.382%*
A versatile Home Equity Line of Credit (HELOC) can be tapped into as often as needed, up to your approved amount. As you repay, funds become available to use again.
HELOCs also feature excellent rates and low closing costs, frequently lower than those with a fixed rate Home Equity Loan. So, you’ll save even more.
Have loan security with 1st Ed Credit Union’s Protection Plus
Click below 24 hours a day to start your application. You can also call 717-264-6506 (option 6) for a representative to take your application by phone.
Apply NowMin: $5,000 Your rate may vary from what is listed. Your interest rate will be based on your credit score. In addition, the Loan to Value Ratio and Lien Position are factors in determining rate. Lines of $100,000 or greater must be first lien. * Promotional offer effective 04/08/2024. $10,000 new money required. After 12 months at 4.25% introductory rate, the interest rate will adjust to as low as Prime Rate minus .50%. Post-introductory rate may vary based on credit score. Prime Rate Effective 12/11/2025 =6.75%. Contact the credit union for complete qualification details. Maximum loan-to-value dependent on credit score. If you close your home equity line of credit within 36 months from the opening date you agree to reimburse the lender for any third party fees the lender paid on your behalf.
Home Equity Lines of Credit Up to 85% LTV
Info and/or Terms
APR
Home Equity Lines of Credit (as low as)
4.25%*
Max: No Maximum Loan Amount
A home equity loan gives you a lump sum up front with a fixed rate and fixed payments, which makes it a solid fit for a one-time project like a kitchen remodel or consolidating debt. A HELOC, on the other hand, works more like a credit card: you draw funds as you need them and pay interest only on what you use, which makes more sense for ongoing or harder-to-predict costs.
Either way, your rate is typically lower than a standard credit card rate.
You’ll find our current home equity loan and HELOC rates in the tables below, updated as market conditions change. Your exact rate depends on your available equity, credit history, and how much you borrow. Because 1st Ed iswe are member-owned, our rates are built to compete with, and often beat, the big banks.
The amount depends on your home equity, the difference between your home’s value and your remaining mortgage balance. Lenders typically allow you to borrow up to a percentage of that equity. Our lending team will walk you through the numbers and your options.
A home equity loan lets you borrow against the equity in your home (its value minus what you owe). You receive a lump sum and repay it at a fixed rate over a set term, which suits a one-time expense like a renovation or debt consolidation.
1st Ed bases your loan amount on your available equity and creditworthiness, then sets a fixed monthly payment for a term of up to 15 years. Because your home secures the loan, rates typically run lower than credit cards or personal loans. You can see our current rates in the table above.
A home equity loan is a lump sum at a fixed rate; a HELOC is a revolving credit line you draw from as needed, paying interest only on what you use. A loan suits a single large expense, while a HELOC suits ongoing costs.
Most lenders, including 1st Ed, cap home equity borrowing at around 85% of your home’s value, minus what you still owe on your mortgage. Your exact limit depends on your credit profile and the loan or line you choose, and our lending team can run the numbers with you.
Yes. Homeowners across South Central Pennsylvania can apply online 24/7 or in person at any 1st Ed branch in Hanover, Chambersburg, or Greencastle. You can also call 717-264-6506 (option 6) to apply by phone with a lending representative.
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