Couple on computer in their home

Home Equity Line of Credit

Access the Money in Your Home
No Closing Costs^


Immediate Access

A HELOC allows for easy access to money whenever you need it. Simply transfer funds from your HELOC into your Checking or other Account. 

A woman on her phone is transferring funds from her HELOC into her checking account

Revolving Funds

Use funds from your HELOC as often as you need to. As you pay the money that you use back, that amount becomes available again throughout your draw period. 

Customer is utilizing HELOC revolving funds for his needs

Home Equity Line of Credit (HELOC)

3.99% APR*
6-month Introductory Rate

Prime -.25% thereafter

For Lines up to $175,000

Borrow up to 80% LTV*

The Benefits of a Home Equity Line of Credit

  • No Closing Costs*

    No Closing Costs^

    Enjoy absolutely no closing costs on Home Equity Lines of Credit under $175,000.
  • Flexible Terms

    Flexible Terms

    Home Equity Lines of Credit are available with 5 or 10 year draw periods and a 15-year repayment period.
  • Interest Rate Cap

    Interest Rate Cap

    Unlike high-rate credit cards, which can skyrocket to 25%, the rate on your HELOC is capped.
  • Lower Rate

    Lower Rate

    Not only will you enjoy a lower rate than high-rate credit cards, you’ll only pay interest on the money you actually use.
  • Easy Access

    Easy Access

    Access your funds whenever you need them with a simple transfer into any of your accounts.

How a HELOC Works

  • Draw Period

    Draw Period

    Your HELOC will have a 5-year or 10-year Draw Period, meaning you can access the funds for 5 years or 10 years. Throughout the Draw Period, you can access the funds as little or as much as you need.
  • Interest Rate

    Interest Rate

    The interest rate on your HELOC will be variable, meaning that it will adjust as the Prime Rate adjusts. During the Draw Period, your minimum payment will be interest-only on the amount you’ve used.
  • Access


    Like a credit card, a HELOC allows you to use funds as you need them. Your HELOC amount will be based on your equity and will not exceed 80% of your home value.
  • Repayment


    After the Draw Period, a 15-year Repayment Period starts for any amount that you’ve used from your HELOC. Payments include principal and interest.

4 Steps to Get Started

  1. 1

    Choose a Home Equity Loan or Line of Credit

    We can guide you through the benefits of a home equity loan versus a line of credit to help you decide on the best option.
  2. 2


    Use the calculator below to estimate your monthly payment. It is a great tool to compare with your current monthly payments.
  3. 3

    Get Prepared & Apply

    There are a few ways you can get prepared. You can rely on expert guidance to navigate everything you have to consider.
  4. 4


    The last step is to finalize all of the documents for your loan. You can either complete the process in a branch, or you can sign most documents electronically ahead of time at your convenience. This will help ensure a much faster closing.


Use our Home Equity Line of Credit Calculator to estimate your monthly payment.

Meet Your Home Equity experts

With over 100 years of combined experience, our experts will help guide you through the entire home equity process.

Bill Walsh

Bill Walsh

Mortgage Originator

Phone: 914.474.5194
Email: [email protected]

Branches Covered:
Red Hook, Rhinebeck, Poughkeepsie & Putnam County
NMLS #: 454307

Visit Bill's Website 

Guy Greco

Guy Greco

Mortgage Originator

Email: [email protected]

Branches Covered:
Kingston, Saugerties, Woodstock & Hurley Ave.
NMLS #: 2213002

Visit Guy's Website

Danielle Crossen

Danielle Crossen

Mortgage Originator

Email: [email protected]

Branches Covered:
Highland & Port Ewen
NMLS #: 1678247

Visit Danielle's Website

Tom Mchugh

Tom McHugh

Mortgage Originator

Phone: 845.363.8993
Email: [email protected]

Branches Covered:
LaGrange, Fishkill,
Putnam & Westchester Counties
NMLS #: 697524

Visit Tom's Website
Denise Quinn

Denise Quinn

Mortgage Originator

Email: [email protected]

Branches Covered:
Middletown, Rockland & Sullivan Counties
NMLS #: 454310

Visit Denise's Website

Jose Ortiz

Jose Ortiz

Mortgage Originator

Email: [email protected]

Branches Covered:
Peekskill & Westchester County
NMLS #: 724128

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Visit Jose's Website

Rick Farrow

Rick Farrow

Mortgage Originator

Email: [email protected]

Branches Covered:
Newburgh & Rockland County
NMLS #: 800674

Visit Rick's Website

Ready to Get Started?

Submit the contact form and your home equity expert will get in touch. Together you'll discuss your options and identify the best solution for you. 


Working with the MHV staff was such a pleasant experience

  • When we were looking for a Home Equity product to finance our son's college education, we did do comparison shopping in the area. Working with the MHV staff was such a pleasant experience. The electronic pre-closing and final closing made the whole process a breeze. MHV truly understands the needs of families, the flexibility and features of their Home Equity products are much better than similar products available from other financial institutions in this area.
    Man M.-S.
  • My experiences with MHV has been great! The I recently applied for a Home Equity loan. The service was wonderful! Everyone that handle my loan was courteous, everything was explained no matter how many question I asked.
    Anna W.

Commonly Asked Questions About HELOCs

  • Please visit our Rates page for our current rates

  • An Equity Edge loan allows you to use your home to secure a loan before you’ve built up equity. Equity Edge loans often have a lower rate than a Personal Loan. Please visit our Equity Edge page for details. 

    For more information or to schedule an appointment with a Mortgage Originator please call us at 845.336.4444.

^Closing costs paid by the Credit Union may be recaptured if loan is closed/terminated within the first three years on loan amounts up to $175,000.