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Home Equity Line of Credit (HELOC)

A flexible line of credit that gives you control

Current Best Rate: 6.25% VAPR¹
Up to 80% CLTV² (as of 09/01/2026)

HELOC features include:

  • No annual fee
  • No closing costs in most cases*
  • 80%–90% CLTV²

Example:
Home Value $600K - $300K left on loan = $180K is left to borrow at 80% CLTV.

The minimum monthly payment amount is just 1% of the outstanding balance.

Repayment Terms

Minimum payment is 1% of the monthly outstanding balance

Repayment Period

10‑year draw period + 10‑year repayment period

Funds Access

Use Credit Card or access through your Checking Account

How much is your home worth?

Check out the latest comparison sales in your area.

Home Value Checker

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What is a Home Equity Line Of Credit (HELOC)?

A HELOC lets you borrow a line of credit against the value you’ve built in your home on your terms.

  • Only use the amount of funds you need
  • Pay down balances on the funds you use over a 10-year period
  • Manageable payments with 1% minimum repayment terms

Reuse funds as you pay down your balance

2What does Combined Loan to Value mean?
Combined Loan to Value (CLTV) shows how much of your home’s value is tied up in total mortgage debt, including your main home loan and any home equity loans or lines of credit. It looks at all the loans on your home added together and compares that total to your home’s value to help lenders understand overall borrowing risk.

Use our calculator to estimate your HELOC payment and explore what fits your budget.

HELOC Calculator

 📞 Talk with a Loan Specialist:

303.202.5659 | 800.280.0234

✉️ support@cudenver.com

Member Story

“Our C·U·D HELOC was perfect for updating the outside of our home. After spending so much time there, we finally made it reflect the craftsman style we love.”

— Michele L., member since 2014

Looking for Something Else?

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If you want to lower your monthly mortgage payments, pay off your mortgage faster, or tap into your home's equity, refinancing might be the solution.

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Second Mortgages

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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.

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 card. The length of the draw period and the repayment period for Credit Union of Denver are 10 years each.

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.

No need to wait for your card to arrive in the mail. Once your new debit, credit, or HELOC card is available in Digital Banking, you can add it to your Digital Wallet and start using it right away.

How It Works

  • Your new debit, credit or HELOC card can be added to a Digital Wallet using secure digital issuance technology.
  • Currently, cards can be added to Apple Wallet® and Google Wallet™.
  • Once your card is successfully added, you'll receive confirmation that it's ready to use for purchases.

Important Things to Know

  • New cards may take up to 2 business days to appear in Digital Banking before they can be added to a digital wallet.
  • We recommend setting up transaction alerts to keep track of activity on your new card and receive notifications when it's used.
  • Your physical card will automatically be active when it arrives.

Receiving Your Physical Card

  • Mail Delivery: Have your card mailed to the address on file. Cards typically arrive within 7-10 business days.

Questions? We're happy to help you choose the option that works best for you.

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 to access your equity funds.

For any tax implications, please consult your tax advisor.

Disclosures

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

1 HELOC = Home Equity Line of Credit. Subject to credit approval, not all borrowers will qualify for the lowest rate. HELOCs have a 20-year term; with a 10-year draw and 10-year repayment period. Minimum payment is 1% of the monthly outstanding balance or $15, whichever is higher. Variable annual percentage rate (VAPR) will apply 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 6.25% up to 12.75% VAPR are current as of 09/01/2026. Rates are subject to change. 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, insured Colorado properties (property insurance required) only. C·U·D Membership Savings of $5 is required.

2 CLTV = Combined Loan to Value.