The credit union will be closed on Wednesday, June 19 for the Juneteenth holiday.

Home Equity Loans

Thinking of home improvements, installing a pool, or just need some extra cash? Consider one of your lowest cost resources: the equity in your home. At SPXFCU, we have options that can work for you.

Apply for a Home Equity Loan Today!

*APR = Annual Percentage Rate. The introductory rate of 0% APR is valid for new SPXFCU home equity line of credit requests for homeowners with up to 80% combined loan-to-value (CLTV). Eligible members will receive an introductory fixed rate as low as 0% for the first 3 months; variable rate of Prime – 0.50% applies after introductory rate expires. 0% APR applies to first draw only. Rate effective 5/31/2024. Rates and loan terms are determined based on the applicant’s past credit history and will vary based on credit score. APR is variable and subject to change monthly but cannot exceed 18%. All loans are subject to credit approval and application. Rates are subject to change and/or the offer is subject to end without notice. To qualify: 1) Member must open a new home equity line of credit and advance a minimum of $10,000 at the time of funding; 2) New money to SPXFCU only, and member cannot have an existing or prior SPXFCU home equity loan or line of credit opened in the last 12 months. Member is responsible for the following charges associated with this product: Application Fee ($195), Title Search Fee ($220-$250), Mortgage Tax (= Loan amount x 0.01, example-$40,000 loan + $400 tax fee), Flood Certificate ($16), Credit Report ($60), Appraisal Costs ($450) and Title Insurance Costs ($220 – $250), if required. Property insurance is required. **No payment for 90 days, whereby the first payment is extended out up to 90 days from the date the loan funds are disbursed. Finance charges will continue to accrue until the first payment is made. Members are required to make monthly payments during both the draw and repayment periods after the initial 3-month period. At the time of the credit advance, a payoff period of 180 monthly payments will be used to calculate your payment. Membership eligibility is required. Equal Housing Lender.

Home Equity Line of Credit

A Home Equity Line of Credit (HELOC)* gives you the flexibility to borrow funds as you need them. The line can be reused as it is paid down, without applying for a new loan. Using your line of credit is as easy as writing a check. With a HELOC loan, the possibilities are endless – home improvements, debt consolidation, vacation, and more!

Home Equity Line of Credit (HELOC) offers:

  • Adjustable annual rate
  • You can obtain credit advances for 10 years
  • 15-years after to repay
  • Rates based on Prime +/- a margin and based on credit score*
  • No need to reapply during draw period
  • Minimum loan amount $10,000; with subsequent draws of $500

Home Equity Loan (60 to 180 month term)

A Home Equity Loan provides you the ability to borrow against your home but offers varying features than a HELOC loan.

Home Equity Loan (60 to 180 month term) offers:

  • Adjustable annual rate
  • 15-year term, closed end loan
  • Rates based on Prime +/- a margin and based on credit score*

*Rates and loan terms are determined based on applicant’s past credit history.

Home Equity Loan (up to 60 month term)

Home Equity Loan (up to 60 month term) offers:

  • Fixed rate loan for 5 years
  • 5-year term, closed end loan
  • Rates based on Prime +/- a margin and based on credit score*

*Rates and loan terms are determined based on applicant’s past credit history.

Current Rates

*All rates effective: June 5, 2024

Loan Type Maximum Term APR as low as*
Home Equity Line of Credit 15 years – 80% LTV1 8.00%* See current promotion.
Home Equity Line of Credit 15 years – 90% LTV1 8.25%* See current promotion.
Home Equity Loan (60 to 180 months) 15 years – 100% LTV1 8.25%*
Home Equity Loan (up to 60 months) 5 years – 100% LTV1 7.25%*

* Annual Percentage Rate (APR) Rates and loan terms are determined based on applicant’s past credit history will vary based on credit score. Financing available to qualified borrowers. Terms and conditions subject to credit union approval. Rates do not apply to refinance of an existing loan with SPXFCU. Rates subject to change without notice. Membership subject to eligibility. Other terms available.
**Estimate includes principal and interest only for longest term.

Rates Calculator

Want to calculate your monthly payment? Enter values into the calculator below. Add extra rows to compare different values.
*This is only an estimate. You will need to speak to a SPXFCU representative for accurate quotes and payment options.

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See What the SPXFCU Family Are Saying

I would recommend SPX to anyone looking for a fair and supportive credit union!

Anthony V.

member

A great value we bring to our customers is that we are not just employees, we are lifelong members.

Bob C.

employee

Everyone is treated like family at SPX. I’m proud to work here and I’m thankful that everyone at St. Pius is a part of my life.

Katelyn M.

employee

We offer a personalized service to our membership that is unmatched by our competition. We help create a more financially sound future for our members.

Matt A.

employee

As a member of St. Pius Credit Union, I’ve experienced the most wonderful customer service assistance in banking.

Randolph G.

member

SPX has excellent customer service. Everyone is helpful and friendly!

Shirley D.

member