Home Equity Lines of Credit
Lock in a home loan at 4.50% APR for 5 years or 6.00% for 6 years
Choose between a rate as low as 4.50% APR for 5 years or 6.00% for six years* when you open a HELOC, draw funds, and convert your balance to a fixed loan. We’ll pay most closing costs and waive your annual fee for 5 years.*
Already have a SELCO HELOC? Talk with us about converting a balance at the same promotional rates.*
Home Equity Line of Credit (HELOC)
A variable-rate, revolving line of credit you can draw on for a period of time, typically between 5 and 15 years. Tap what you need, when you need it, and accrue interest only on what you use.
Home Equity Conversion Loan
Part HELOC, part fixed rate loan, this option lets you pick a time during the HELOC’s draw period to convert all or a portion of your balance to a fixed-rate loan with predictable monthly payments.
Compare SELCO's Flexible Home Equity Options
| Features | HELOC | HELOC Conversion Loan |
|---|---|---|
| Ideal for | Flexibly tapping your home’s equity over time, like ongoing home improvements or tuition payments. | Financing a large project or one-time expense, like a remodel or debt consolidation. |
| Type of interest rate | Variable | Fixed |
| How it works | A 5- to 15-year draw period followed by a repayment period of up to 15 years. Interest owed is based on what you use. Access what you need when needed with a Home Equity Visa® card, deposit funds into your SELCO account, or request a cashier’s check. | Convert all or part of your HELOC balance (minimum $5,000) to a fixed term loan with consistent monthly payments. |
| The SELCO difference | No application or origination fee. Closing costs (except appraisal and title insurance, if needed) are paid by SELCO. | No application or origination fee. $25 conversion loan fee is waived if conversion is made at the time the line of credit is funded. |
| Find out more | Apply Online Contact Us | Apply Online Contact Us |
| Account Type | Ideal for | Type of interest rate | How it works | The SELCO difference |
|---|---|---|---|---|
| HELOC | Flexibly tapping your home’s equity over time, like ongoing home improvements or tuition payments. | Variable | A 5- to 15-year draw period followed by a repayment period of up to 15 years. Interest owed is based on what you use. Access what you need when needed with a Home Equity Visa® card, deposit funds into your SELCO account, or request a cashier’s check. | No application or origination fee. Closing costs (except appraisal and title insurance, if needed) are paid by SELCO. |
| HELOC Conversion Loan | Financing a large project or one-time expense, like a remodel or debt consolidation. | Fixed | Convert all or part of your HELOC balance (minimum $5,000) to a fixed term loan with consistent monthly payments. | No application or origination fee. $25 conversion loan fee is waived if conversion is made at the time the line of credit is funded. |
*Home Equity Conversion Special Offer Details:
New HELOCs (opened March 2, 2026 and after): Applications subject to membership and credit qualifications; lowest available promotional rates assume a 720 or higher FICO score, automatic payments, and eStatement enrollment. $5 one-time fee and $5 share deposit required for SELCO membership. Promotional rate applies only to advances of $5,000 or more taken and converted within the HELOC draw period and the promotional period (which may end at any time). HELOC opening; see standard rates for HELOC fixed rate conversion loans. Closing costs, excluding appraisal and title insurance (if required), covered by SELCO. $45 annual account maintenance fee applies after year 5. Offer may end at any time. Offer is not valid for HELOCs on investment properties.
Existing HELOCs (opened before March 2, 2026): Applications subject to credit qualifications; lowest available promotional rates assume an 80% or lower LTV (loan to value), 720 or higher FICO score, automatic payments, and eStatement enrollment. Promotional rate applies only to balances of $5,000 or more converted within the promotional period which may end at any time; see standard rates for HELOC fixed rate conversion loans. $25 conversion loan fee and $45 annual maintenance fee apply. Offer not valid for HELOCs on investment properties.
Resources
Homeowners Can Put Equity to Work with a HELOC
Upgrades, renovations, and additions to your home can be costly. Thankfully, homeowners have an effective tool at their disposal—their home’s equity.
Looking to Consolidate Debt? Try a HELOC.
Burdened by high-interest credit cards? A home equity line of credit can be a great way to consolidate debt and minimize monthly payments.
Buying Your First Home: A Realistic Guide
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Knowing Your Home Improvement Options
Learn the difference between a home equity loan, HELOC, and refinancing, to determine the best option to reach your home improvement project goals.