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Routing # 307075259
A happy family sitting on their new kitchen floor together.

Home Equity Line of Credit

Make Your Vision a Reality!

HELOC - Home Equity Line of Credit. No Closing Costs in Most Cases. Don't Move, Improve!

The Colorado housing market is one of the hottest in the nation! You may have more value in your home than you realize. Access to your money is easy and our home equity loans are flexible enough to fit your specific needs for home improvements, bill consolidation, college tuition, a family vacation or whatever you may need.

FOR A LIMITED TIME – Special interest rate is good for 12 months for applications received through June 30, 2023. We have HELOC rates as low as 5.49% APR1 for up to 80% CLTV2, as well as 6.49% APR1 for up to 90% CLTV2.

Get Started Calculators

To speak to a Credit Union of Denver Loan Specialist, give us a call 303.202.5659 | 800.280.0234 or email us at

Couple sitting down after painting


Current Best Rate: 5.99% VAPR1 80% CLTV(as of 05/01/2023)

A Home Equity Line of Credit (HELOC) is a form of revolving credit in which your home serves as collateral. You qualify for a certain amount and draw on it as you need and pay back the amount in payments like you would a credit card.

  • $0 Annual Fee
  • $0 Closing Costs, in most cases (an appraisal may be required at member’s expense)
  • 80%-90% CLTV2 (Combined Loan to Value)
  • Access funds via credit card or check
  • Ability to re-use funds as you pay down the balance
  • 1% Repayment Terms
  • 10 Year Draw Period and 10 Year Repayment Period (20 years total)

Our C·U·D HELOC was perfect for updating the outside of my home. After spending so much time at home lately, I had time to design and update my 1970’s home. Now it reflects the craftsman style that I love and gravitate toward!

Michele L. - member since 2014


A Home Equity Line of Credit is a form of revolving credit, like a credit card, in which your home serves as collateral. And since your home is most likely your largest asset, why not put it to work for you and take advantage of all the benefits a Credit Union of Denver HELOC offers! Access to your money is easy and our Equity loans are flexible enough to fit your specific needs for home improvements, bill consolidation, college tuition, a family vacation or whatever you can dream up!

Much like a credit card that allows you to borrow against your spending limit as often as needed, a HELOC gives you the flexibility to borrow against your home’s equity.

For example, say you have a home worth $400,000 with a balance of $250,000 on your first mortgage and you want to access up to 80% of your home’s value (based on Combined Loan To Value – CLTV) stats. You can establish a HELOC with up to a $70,000 limit:

  • Home Value at $400,000 x 80% = $320,000.
  • 80% minus what you owe is $320,000 – $250,000 = $70,000.
  • $70,000 would be the amount you could use, for this 80% CLTV example.

However, Credit Union of Denver has higher combined loan to value options, up to 100%, if you want to borrow a higher amount. Use our Home Value Checker to see what your home may be worth.

A HELOC has two phases. First is the draw period, followed by the repayment period.

During the draw period, you can borrow from the credit line by checkbook or card. The length of the draw period for Credit Union of Denver is 10 years.

Payments on a HELOC are not much different than a credit card. Minimum monthly payments are required. The re-payment terms are at least a 1% payment on the outstanding balance. This is true for the entire 20 year term. During the repayment period, or last 10 years of the HELOC, you can no longer borrow against the credit line. Instead, you pay it back in monthly installments that include principal and interest. If you don’t pay off the total due in that last 10 years, it will end up having a balloon payment for the balance owed.

After you qualify for a certain amount, use your HELOC for things like: home improvements, education, debt consolidation, medical bills, or a much needed vacation. The choice is yours!

Simply use your issued Credit Union of Denver MasterCard® with your HELOC and checks (if you elect them) to access your equity funds.

For any tax implications, please consult your tax advisor.

HMDA Disclosures. Credit Union of Denver NMLS#417000. Equal Housing Opportunity.

1 5.49% & 6.49% APR (Annual Percentage Rate) are promotional rates & are good on new HELOC applications submitted February 1, 2023 – June 30, 2023 and opened February 15, 2023 - June 30, 2023. With approved credit. 5.49% APR not to exceed a 2 Combined Loan to Value (CLTV) of 80%, 6.49% APR not to exceed 90% CLTV. HELOCs have a loan term of 10 years and a repayment term of 10 years. Promotional rate is good for 12 months from closing date. Variable annual percentage rate (VAPR) will apply after promotional period ends and is based on credit worthiness at time of application. Best rate is 0.50% [“Margin”] below Wall Street Journal Prime Rate “Index”] subject to the floor rate of 6.00% and ceiling rate of 18.00%. For example, standard rates of 5.99% up to 13.50% VAPR are current as of 02/01/2023. Rates are subject to change after the promotional period ends. Not all borrowers will qualify for the best rate. No closing costs in most cases, but an appraisal fee and/or title insurance (approximate cost $0 - $3,000) may be required at member expense. Not available on refinance of current Credit Union of Denver (C·U·D) mortgage loans. Owner occupied and insured Colorado properties only. C·U·D membership of $5 is required. HELOC disclosures.