Home Equity & Lines of Credit

With Rates on the Rise, Lock in Your Home Equity Line of Credit Rate with WyHy's New Hybrid HELOC

If you’re looking for a Home Equity Line of Credit (HELOC) or a Home Equity Loan, how about both all in one?

Our NEW Hybrid HELOC offers the flexibility you deserve and is easy to use. It starts out as a line of credit and allows up to two (2) fixed loan segments so your rate on each specified amount remains fixed, no matter what!¹

Use the value within your home for any variety of needs. If you don't want the funds in one lump sum and rather have access to the funds in bits and pieces when you need it — then a Home Equity Line of Credit is the route to go.

For Example: Let's say you're looking to do a bathroom remodel:

• You have a $100,000 HELOC with a balance of $50,000 on the line of credit, with $50,000 still available
• So you decide to “fix” $25,000 as one of your fixed rate segments
• Your fixed balance of $25,000 comes with a 10-year amortization¹
• Your available line of credit is still $50,000
• Your balance in the line of credit is now $25,000 at the same variable rate, with the other $25,000 locked into your fixed rate segment
• While you have two rate scenarios, they will be added together so you only have to pay one total amount each month until each segment is paid in full

It's a fixed rate loan with a line of credit all in one!

And as always, our HELOCs offer:

• Loan to Value (LTV): Up to 100%
• Draw Period: Up to 120 months / 10 years
• Repayment Terms:  Loan is amortized for 240 months/20 years with the final 10 years strictly repayment of the loan balance
• Closing Fee: None
• Early Payoff Penalty: None
• Interest: Simple interest based on a 365-daily accrual
• Make your monthly payments in a variety of ways: in person, through the mail, auto deduction, payroll deduction, Online Banking or telephone banking
• Receive statements via Online Banking, or through the mail
  • Members who select eStatements via Online Banking will be able to view their statements on the 1st day of each month
• Please reference Important Terms for more information on loan qualifications and examples. All loans subject to final credit approval. Consult your tax advisor concerning the deductibility of interest.

Apply Now   View Rates

Must own property in the State of Wyoming to apply and be eligible for a WyHy HELOC.

*Rates are subject to change. Rates and maximum loan terms are dependent on credit qualifications and loan-to-value (LTV) percentage. Rates listed are the lowest available. The Index will be the Wall Street Journal Prime Rate. The Margin will be based on the borrower’s credit score and the LTV. Home Equity or real estate secured loans are limited to properties located in the State of Wyoming. Your actual rate is based on previous credit performance. Lowest rate shown is for well-qualified borrowers and includes automatic payment discount. The Floor Rate (or minimum rate) will be 4% and the maximum rate will be 18%. Changes to the interest rate will be effective monthly on the 1st day of the month. The Loan-to-Value (LTV) is based on market region. This HELOC program will have a Draw Period of 10 years with the following Repayment Terms: Loan is amortized for 240 months/20 years with the final 10 years strictly repayment of the loan balance. a Repayment Period of 10 years for an Amortization of 20 years. The Draw Period is the time in which the borrower can take advances on their Line of Credit. During the Repayment Period the borrower cannot take advances on their Line of Credit. The minimum monthly payment will be established at the time of each advance (other than credit insurance premiums) to the amount necessary to fully amortize the account balance no later than the agreement maturity date. A late fee will be assessed if the payment if more than 10 days late. The late fee will be the greater of 5% of the payment or $25.

¹Hyrbid Home Equity Line of Credit (HELOC) allows a member to create up to two (2) fixed loan segments with a minimum of at least $5,000.00 for each loan segment from the balance of their pre-existing Line of Credit. Fixed terms will be 10-years (120-months). Rate for fixed segments will be based on the last “soft” credit score. The fee structure remains the same as the regular HELOC initial loan application with a $30.00 fee for each fixed loan segment creation. Contact the Credit Union for full details.

Home Equity Loans

Use the value within your home for anything from home improvement projects, to planning a wedding or paying for school. So if you own property in the State of Wyoming, our Home Equity Loans offer:

• Loan to Value: Up to 100%
• Repayment Terms: You have several options to choose from, based on your credit score and loan amount. Payments will remain the same through the term of the loan.
• Interest Rates: Based on your credit score and loan to value
• Closing Fee: Fees will vary and are based on loan amount and loan to value. Fees may include, but are not limited to: appraisal fee, document preparation, flood certification, origination fee, recording fee and title insurance.
• Early Payoff Penalty: None
• Late Fees: The greater of 5% of the payment, or $25 after 10 days
• Interest: Monthly 360 day accrual
• Make your monthly payments in a variety of ways: in person, through the mail, auto deduction, payroll deduction, Online Banking or telephone banking
• Receive statements via Online Banking, or through the mail
  • Members who select eStatements via Online Banking will be able to view their statements on the 1st day of each month

Apply Now   View Rates

Rates and maximum loan terms are dependent on credit qualifications and loan-to-value (LTV) percentage. The rate will be based on a rate formula. The Index will be the Wall Street Journal Prime Rate. The Margin will be based on the borrower’s credit score and the LTV. Home Equity or real estate secured loans are limited to properties located in the state of Wyoming. Your actual rate is based on previous credit performance. All loans subject to final credit approval. Contact the Credit Union for full details. Consult your tax advisor concerning the deductibility of interest.