Turn Your House Into a Hero
You don’t need a miracle. You just need the hidden superpower your home already has.
Your home isn’t just siding and shingles. It’s value you’ve already earned. And it may be able to go to work for your budget.
A Home Equity Line of Credit (HELOC) lets you tap into that value and use it when you need it, especially if you’re managing high-interest credit card debt.
What Is a HELOC?
Think of a HELOC like a credit card your house powers, but typically with a much lower interest rate.
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Use the funds when you need them
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Pay it down
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Use it again
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As you repay, your available balance opens back up
Why Members Use a HELOC for Debt Relief
Credit card rates are often 20 to 25 percent or more. Many households carry thousands in revolving debt, making it difficult to get ahead.
Lower Your Interest
Move high-rate credit card balances to a lower-rate line of credit. Credit card interest can quietly cost thousands over time. By shifting that balance to a lower-rate option, you may reduce monthly interest charges and free up more of your payment to chip away at principal faster.
Simplify Your Budget
Combine multiple payments into one. Fewer due dates can mean less stress and fewer chances of missing a payment. A single, predictable payment can make budgeting more straightforward and give you a clearer view of your overall debt plan.
Pay Debt Off Faster
With a lower rate, more of your payment goes toward principal instead of interest. That means your balance can shrink more quickly over time, helping you move toward being debt-free with a clearer timeline and fewer dollars lost to interest charges.
Lower Interest. Lower Payments. Lower Stress.
How it Works:
Step 1.
Find out how much equity you have in your home using our Home Worth Tool
Step 3.
Access funds as needed during the draw period.
Step 4.
Reuse funds as you repay the balance.
More Than a Home Project Loan
Many people think of a HELOC for renovations, but it can also be a powerful debt management tool.
A HELOC may be a good fit if you:
✔️ Own a home
✔️ Have built equity
✔️ Are carrying high-interest credit card balances
Because your home is used as collateral, it’s important to borrow responsibly. Our lending team can walk you through the numbers and help you decide if this option makes sense for your situation.
Activate Your Home's Superpower
Debt defeated. Stress neutralized.
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APR = Annual Percentage Rate. Rate and terms are based on creditworthiness and loan-to-value ratio. HELOCs are secured by your home. Property insurance required. Consult a tax advisor regarding deductibility of interest. Membership eligibility required. Other restrictions may apply.
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. Our HELOC uses Prime as the index. 20 year and fixed second use APOR as their index. The Margin will be based on the borrower’s credit score and the LTV. Your actual rate is based on previous credit performance. Lowest rate shown is for well-qualified borrowers. 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.
Hybrid Home Equity Line of Credit (HELOC) allows a member to create up to three (3) 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. 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.