Leverage Your Hard-Earned Equity While Getting Rewarded!

We reward everyone, even if you already have a HELOC open with us.

How to participate?

How Does a HELOC Work?

A Home Equity Line of Credit (HELOC) is a versatile loan option that taps into the equity you've built in your home.

Here's how it works:

• Flexible Credit Line Based on Home Equity: A HELOC provides a revolving line of credit determined by the value of your home. Unlike traditional loans, the amount you can borrow is a percentage of your home's equity, offering flexibility and control.

• Withdraw Funds on an As-Needed Basis: Similar to a credit card, a HELOC allows you to draw funds up to a specified limit during the draw period, which at the District Credit Union is up to 10 years. This means you can access funds whenever you need them, for any purpose—be it home renovations, educational expenses, or unexpected emergencies.

• Example of Borrowing Limit Calculation:
• Imagine your home has a market value of $500,000, and you currently have a mortgage balance of $300,000. At the District Credit Union, qualified borrows can borrow up 95% of their homes equity, minus the existing mortgage.
• Calculation for Borrowing Limit: $500,000 (home value) x 95% = $475,000. Subtracting the existing mortgage ($300,000) from this amount gives you a potential HELOC limit of $175,000.
• This calculation showcases our commitment to providing you with ample borrowing capacity, with CLTV ratios that go up to 95%, thus offering even greater flexibility for higher credit limits.

• Payments During Draw Period: Throughout the draw period, you are required to make payments of 1% of the unpaid balance (amount drawn) with a minimum of $100 each month.



• Convenient Access to Funds: Throughout the draw period, accessing your HELOC funds is made easy through options like a checkbook or online banking by scheduling transfers from your HELOC to your checking account. This ensures you can cover costs swiftly and efficiently.

Want more information from our Financial Loan Advisors?

Please call us at 303-360-0987

(Don't forget to ask about our Bonus Special)

*Members can earn a $100 Visa gift card when they open a HELOC (Home Equity Line of Credit) with us. This promotion is available to both new and existing members, provided they do not currently have a HELOC with our institution. For members who already have a HELOC with us, there's an opportunity to qualify for a $150 gift card by using between $10,000 and $20,000 of their HELOC funds from March 22- May 31st. Promotions may not be combined. Online transfers are limited to a maximum of $5,000 per transaction. For larger transfers, a branch visit may be required.

The District Credit Union

751 Chambers Rd., Aurora, CO 80011

303-360-0987

[email protected]

Routing #: 307074467

NMLS #: 402483

© 2024 The District Credit Union

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The District Credit Union (NMLS# 402483) is federally registered through the Nationwide Mortgage Licensing System. NMLS is a free service for consumers to confirm that the mortgage loan originator with whom they wish to conduct business is federally registered. To verify the status of your mortgage loan originator at The District Credit Union, visit http://www.nmlsconsumeraccess.org.