Home Equity Lines of Credit

A Home Equity Line of Credit (HELOC) to Match Every Need Ask about our new First Lien HELOC product.

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

Not Ready? Speak to a Specialist!

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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 up to 95%!**

Enjoy up to 95%** CLTV with Quorum's Second Lien HELOC and up to 90% LTV with our First Lien HELOC! We also offer generous borrowing options on our Bridge Loan and Investment Property HELOCs.
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Unlock Financing up to $1,000,000!

Borrow up to $500,000 with our Second Lien HELOC, up to $750,000 with our First Lien HELOC, up to $250,000 with our Investment Property HELOC, and up to $1,000,000 with our Bridge Loan HELOC!
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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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Borrow up to 95%** of your home’s equity!

Need to make a big purchase (new kitchen, anyone?) but find yourself low on cash? With rates starting at 8.25% APR* and financing up to $500,000, Quorum’s Second Lien HELOC can help you pay for those new countertops—or anything else you might need.

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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.

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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.

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

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

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Take that dream vacation and create treasured memories.

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Build an emergency fund to be prepared for the unexpected.

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Adopt a child and pay for the administrative expenses.

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Consolidate your debt and simplify your monthly payments.

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

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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. Not only that, our online checking accounts come with 2-day early access to direct deposits (at no cost to you), free Bill Pay, and access to over 90,000 free ATMs nationwide.

Here’s what you’ll need to do:

STEP 1: Open any of our checking accounts. Click here to learn more about our checking accounts.

STEP 2: Establish a minimum balance of $5,000.

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!

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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.

Don’t Just Take It from Us—Read What Our Members Have to Say.

If you want a credit union with over 85 years of experience in providing excellent customer service and over 75,000 members who continue to put their faith in us, Quorum is here—and ready to help.

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“Vinny and Jacqueline assisted my husband and me 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!”

If you want a credit union with over 85 years of experience in providing excellent customer service and over 75,000 members who continue to put their faith in us, Quorum is here—and ready to help.

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“Very professional, easily accessible and a pleasure to work with! Highly recommend for all financial and home loan needs.”

If you want a credit union with over 85 years of experience in providing excellent customer service and over 75,000 members who continue to put their faith in us, Quorum is here—and ready to help.

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“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 baking experience and fantastic customer service.”

If you want a credit union with over 85 years of experience in providing excellent customer service and over 75,000 members who continue to put their faith in us, Quorum is here—and ready to help.

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“I have been a member of Quorum FCU for about 20 years and I have never had anything less than excellent customer service experiences.”

If you want a credit union with over 85 years of experience in providing excellent customer service and over 75,000 members who continue to put their faith in us, Quorum is here—and ready to help.

You’re in Good Hands with Quorum.

If you’re looking for an award-winning experience, look no further. Here are just a few of the leading sources that have taken notice of our top-tier financial tools and unmatched customer service.

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.

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Home Equity Loans

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.

Not ready? Speak to a specialist >

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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:

First Lien HELOC Rates and APR:
The Annual Percentage Rate (APR) is as low as 8.50% as of 03/18/2024. The Floor Rate is 6.95%. 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.

Second Lien HELOC Rates and APR:  
The Annual Percentage Rate (APR) is as low as 8.25% as of 03/18/2024. 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) 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.

Investment HELOC Rates and APR:
The Annual Percentage Rate (APR) is as low as 11.50% as of 03/18/2024. 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. 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.

Bridge Loan HELOC (1st lien) Rates and APR:
The Annual Percentage Rate (APR) is as low as 11.25% as of 03/18/2024. 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.