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A home equity line of credit could be your key to financial simplicity

With a home equity line of credit from First Tech, you can easily tap into your home equity and consolidate high-interest debt into a single low-rate payment, saving you money on interest.
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Why choose a home equity line of credit?

If you need extra cash for debt consolidation, home improvement projects or another large purchase, a home equity line of credit may be a great choice.

Home equity line of credit benefits

  • Experience ultimate flexibility while you put your home’s equity to work for you. A First Tech home equity line of credit gives you access to cash when you need it.
  • Flexible line of credit secured by your home's equity
  • Low, interest-only payments during the 10-year draw period*
  • Offers you the flexibility of access to funds now and into the near future
  • Access to cash when you need it
  • No pre-payment penalty
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Need more information?

Schedule an appointment to speak with one of our Home Equity Loan Officers to discuss the HELOC that best fits your needs.

Schedule an appointment

Frequently asked questions

A Home Equity Line of Credit (HELOC) is a flexible borrowing option that lets you tap into your home’s equity when you need it—on your terms.

Here’s how it works:

  • It’s a revolving line of credit, similar to a credit card, but backed by your home.
  • You can draw funds as needed, up to your approved limit.
  • You’ll only pay interest on the amount you use, not the full credit line.
  • The interest rate is variable, which means it may change over time.

Why members choose a HELOC:

  • Flexibility to borrow for home improvements, education, or unexpected expenses.
  • Competitive rates that help you save.
  • Genuine support from our lending experts who are here to help you reach your dreams.

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Your borrowing limit for a HELOC depends on several factors, including:

  • Your home’s current market value
  • The amount you still owe on your mortgage
  • Your debt-to-income ratio
  • Your ability to repay the loan

We’re here to help you understand your options and find the right fit for your goals. While we’re working on a new interactive Home Equity Calculator (coming soon!), you can get a personalized estimate by scheduling a quick consultation with one of our Home Equity Loan Officers.

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Why choose First Tech for your HELOC?

  • Flexible borrowing that adapts to your needs
  • Competitive rates to help you save
  • Genuine guidance from experts who care about your dreams

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A Home Equity Line of Credit (HELOC) gives you flexible access to funds—when you need them—using the equity in your home. It’s a smart way to borrow for life’s big moments or unexpected expenses.

Here’s why members choose a HELOC:

  • Lower interest rates than many unsecured loans or credit cards
  • Pay less interest by using your HELOC to consolidate higher-rate debt
  • Flexible access to funds over time, not just a lump sum
  • Potential tax advantages—consult a Certified Public Accountant (CPA) to learn more

Whether you're planning a renovation, covering education costs, or managing debt, a HELOC can help you move forward with confidence.

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Repaying a HELOC is designed to be flexible and member-friendly, with options that support your financial goals.

Here’s how it works at First Tech:

  • Draw period: You’ll have up to 10 years to access funds as needed. During this time, you’ll make interest-only payments, keeping monthly costs low.
  • Early payments: Want to pay down your balance sooner? You can make additional principal payments anytime during the draw period—without penalties.
  • Repayment period: After the draw period ends, you’ll begin repaying the principal and interest. You won’t be able to borrow additional funds at this stage.

Looking to pay off your HELOC early?
First Tech’s HELOCs come with no prepayment penalties, so you can pay off your loan faster and save on interest.

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A HELOC can be a powerful financial tool—but it’s not ideal for every situation. Here are a few things to consider before applying:

A HELOC may not be right for you if:

  • You only need to borrow a small amount—other loan types may have lower upfront costs.
  • You’re using it to cover day-to-day expenses—taking on new debt during financial hardship can be risky.
  • You prefer fixed payments—HELOCs have variable interest rates, which means your monthly payments can change.
  • Your income is inconsistent—fluctuating payments may be harder to manage if your earnings vary month-to-month.

Tip: Always review your financial situation and goals before borrowing. And if paying off your loan early is important, First Tech HELOCs come with no prepayment penalties.

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Applying for a Home Equity Loan at First Tech is simple, secure, and designed to fit your life.

Here’s how to get started:

  • Apply online anytime – Our quick and easy application is available 24/7.
     Start your application
  • Want to talk it through first? – Schedule a one-on-one appointment with a Home Equity Loan Officer. We’ll help you explore your options and find the right fit for your goals.
    Book a consultation

Whether you're planning a renovation, consolidating debt, or funding a major milestone, we’re here to help you move forward—with flexible terms, competitive rates, and genuine support.

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* The third-party fees you must pay at closing generally total between $655.00 and $980.00. Estimated closing fees are based on your state of residence and may include Title, Settlement, Recording, AVM, Property Condition Report, Assuming joint credit report, and Flood Certification fees, as applicable.

Non-Flexity Line of Credit

Variable Annual Percentage Rate (APR) for first and second lien position home equity lines of credit will vary with the Prime Rate as published in the Wall Street Journal. As of 04/09/2025, the variable rate for new Non-Flexity home equity lines of credit is Prime – 0.375% to Prime + 4.250% (7.125% APR to 11.750% APR). Your rate will not exceed 18.000% APR. Making minimum interest-only payments will not pay down your principal. An annual fee of $100 will apply every year after the first year from the date of funding.

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