Home Equity Lines of Credit
Access Cash from the Equity in Your Home. Current Low Rate of 9.00% APR - Ask About Additional Discounts!
Enjoy a seamless closing and round-the-clock personalized service with a HELOC (also called a second mortgage) from Quorum—featuring low rates, transparent fees, easy online document handling, and real-time loan updates.
Not Ready? Speak to a Specialist!
Get Your Goals Across the Finish Line with a HELOC.
Got a major project or expense on the horizon? Harness the financing power you need with a Home Equity Line of Credit (HELOC) from Quorum.
Enjoy a Seamless Experience
Get a Sky-High 90% CLTV
Unlock Financing up to $350,000
Experience Our Common-Sense Underwriting
What can I do with my HELOC?
The possibilities are endless! Quorum members are free to use their HELOC however they choose, whether that’s paying for home renovations, starting a business, paying for college, or something else entirely—the choice is yours.
Finish the renovations that’ll make your house feel like home.
Take that dream vacation and create treasured memories.
Build an emergency fund to be prepared for the unexpected.
Adopt a child and pay for the administrative expenses.
Consolidate your debt and simplify your monthly payments.
Pay for your child’s tuition without going into student loan debt.
Cover the initial costs of starting your own business.
Looking for Flexible Payments and Low Rates?
Need to make a big purchase (new kitchen, anyone?) but find yourself low on cash? With rates starting at 8.50% APR* and interest-only payments over your 10-year draw period, Quorum’s Interest-Only RealtyLine HELOC can help you pay for those new countertops—or anything else you might need.
Here Are Some Benefits You’ll Enjoy:
Get access to flexible payment terms, generous rate discounts, and a high maximum credit line with an Interest-Only RealtyLine HELOC.
Maximum Credit Line: Up to $350,000 (for well-qualified borrowers)
Draw Period: 10 years
Repayment Period: Interest-only payments during the 10-year draw period; principal and interest payments during the 20-year repayment period
Floor Rate: 6.95%
Rate Cap: 18.00%; 2.00% increase or decrease per year
Property Type: 1-2 Unit, Fee Simple, PUD, Condo, Townhouse
Rate Discounts:
- 0.25% if you open a Quorum checking account and maintain a monthly balance of $5,000
- 0.50% for $50,000+ in a Quorum term savings account
Want to Access the Equity in Your Investment Property?
If you own an investment property and need to make a large purchase, our Investment Property HELOC allows you to cash in on your equity—and only pay on interest during your 5-year draw period.
Here Are Some Benefits You’ll Enjoy:
Use this HELOC to help you with purchasing another property, big renovations, and any other big-ticket items you may have on your list.
Maximum Credit Line: Up to $250,000 (for well-qualified borrowers)
Draw Period: 5 years
Repayment Period: Interest-only payments during the 5-year draw period; principal and interest payments during the 10-year repayment period
Floor Rate: 6.95%
Rate Cap: 18.00%; 2.00% increase or decrease per year
Property Type: Non-owner occupied 1-unit, fee simple, PUD, Condo, Townhouse
Rate Discounts*:
- 0.25% if you open a Quorum checking account and maintain a monthly balance of $5,000
- 0.50% for $50,000+ in a Quorum term savings account
Earn 4.25% APY* with HighQ.
Yes, you heard that right!
You can get more out of your money with our best liquid, online savings account!
Whatever you’re saving for, our HighQ Savings Account can help you get there without locking up your funds. HighQ is a liquid savings account with no minimum balance requirements and no fees (as long as you maintain eStatements).
*Annual percentage yield (APY) in effect as of 08/09/2023.
What Should I Expect When I Apply?
Apply for a HELOC Online.
Our online application makes it easy and simple to apply for a HELOC and upload required documents in one secure platform.
Wait While We Review Your Application.
Once you’ve submitted your application, you’ll receive a confirmation via email or text, outlining the next steps. Our underwriting process typically takes 1-2 days.
Sign the Closing Documents.
As soon as we’ve processed your application and have all your paperwork in order, we’ll set up your closing appointment.
Access Your Funds!
Shortly after closing, your funds will be available to use however you choose! You can access your cash online or via the HELOC checks you’ll receive in the mail.
Don’t Just Take It from Us—Read What Our Members Have to Say.
If you want a credit union with over 85 years of experience in providing excellent customer service and over 75,000 members who continue to put their faith in us, Quorum is here—and ready to help.
If you want a credit union with over 85 years of experience in providing excellent customer service and over 75,000 members who continue to put their faith in us, Quorum is here—and ready to help.
If you want a credit union with over 85 years of experience in providing excellent customer service and over 75,000 members who continue to put their faith in us, Quorum is here—and ready to help.
If you want a credit union with over 85 years of experience in providing excellent customer service and over 75,000 members who continue to put their faith in us, Quorum is here—and ready to help.
If you want a credit union with over 85 years of experience in providing excellent customer service and over 75,000 members who continue to put their faith in us, Quorum is here—and ready to help.
You’re in Good Hands with Quorum.
If you’re looking for an award-winning experience, look no further. Here are just a few of the leading sources that have taken notice of our top-tier financial tools and unmatched customer service.
Not Ready? Speak to a Specialist!
Additional Resources
Check out our educational resources to learn more about home equity loans, home equity lines of credit, how they work and the information you need to decide if a HELOC is the right pathway to achieving your goals.
Home Equity Loans
Open a Quorum HELOC Today.
Ready to take the first step in financing your goals with a HELOC from Quorum? Apply online to get started.
Not ready? Speak to a specialist >
HELOC FAQs
How do I check the status of a loan application?
To check the status of your loan application:
- First Mortgages – Log in to our mortgage application portal or contact your Loan Officer.
- Home Equity Loans – Log in to our home equity application portal or contact your Loan Officer.
- Student Loans – Log in to our partner website, CU Student Choice or call (866) 558-2965.
- Credit Cards – Please call our Member Service Team at (800) 874-5544, Monday through Friday, 8:30 a.m. – 7:00 p.m. ET.
- Savings Secured Loan, Term Secured Loan, Overdraft Line-of-Credit (Checking Reserve) – Please call our Member Service Team at (800) 874-5544, Monday through Friday, 8:30 a.m. – 7:00 p.m. ET.
How do I check the status of my HELOC advance request?
To check the status of your HELOC advance:
Requests submitted via online banking: The amount of the requested advance will reflect immediately as a deposit in the transaction history of the selected account. However, please note that this amount will not be reflected in the available balance until the request has been processed, which may take up to 4 business days. Should you wish to confirm when the funds will be released, please contact our Member Services Team at (800) 874-5544, Monday – Friday, 8:30 a.m. – 7:00 p.m. ET.
HELOC Advance Checks: Please contact our Home Equity Loan Servicing Center at (877) 909-2544, Monday – Friday, 8:30 a.m. until midnight, ET, and Saturday, 8:30 a.m. – 5 p.m. ET.
How long does it take to process a HELOC advance via check or online?
The processing times for HELOC advances are as follows:
Online Requests: Advances made in online banking are subject to a hold of 3-4 business days. If funds are needed sooner, once the advance request has been submitted via online banking, please contact us at (800) 874-5544, Monday through Friday, 8:30 a.m. to 7:00 p.m. ET, to request to have the hold release expedited.
Mobile Check Deposits: HELOC checks deposited via mobile deposits will take 3-5 days for funds to be available in your account.
Mailed Checks: Checks you mailed directly to your service providers will vary based on the delivery time and your service provider’s financial institution.
How do I make extra payments towards the principal on my Home Equity or HELOC?
To make a principal payment toward your Home Equity Loan or HELOC:
- Log in to online banking.
- Under Accounts on the Dashboard, click on “Second Mortgage.”
- Select “Manage My Account” from the menu bar.
- Click on the “Payment” tile at the top of the page. You will only be able to select the principal payment option if your current monthly payment has been made.
Please note that principal payments cannot be processed until your current monthly payment has been made. Once your billed amount has been satisfied and posted (within 2 business days), you may make a principal payment. You will see the principal payment reflected in your account within 2-3 business days after your regular monthly mortgage payment has been made.
*Disclosures:
Interest-Only RealtyLine Home Equity Line of Credit
Rates and APR:
The Annual Percentage Rate (APR) is as low as 9.00% as of 07/27/2023. The Floor Rate is 6.95%. Maximum APR is 18.00%. The APR is a variable rate, plus or minus a margin, and is based on the Prime rate (index – as published in The Wall Street Journal) plus a margin. The margin is determined based on credit history, loan amount and combined loan-to-value (CLTV) ratio. Rate will not increase or decrease more than 2% annually. A home equity line-of-credit is secured by the member’s home and is available only for 1-2 family residential properties and condominiums, excluding co-ops. Minimum line-of-credit amount: $25,000.00. No draw required at closing. No application, or termination fees; appraisal fee varies. No pre-payment penalty. Mortgage tax may apply in some states. This Home Equity Line of Credit is not available in TX. All loans are subject to credit approval. Fees are due at closing and debited from the HELOC (except appraisal fee, if applicable, due at time of application). Additional fees for HELOCs, including all lender fees, origination fees and third-party fees will be passed to the borrower. Interest-Only RealtyLine HELOC: For discounted rates (0.25%), a new Checking Account with Quorum must be established prior to closing. (Minimum monthly balance of $5,000) and New CD with Quorum must be established prior to closing. (Maintaining at least $50,000 in CDs any duration). Requirements must be satisfied at account opening and maintained through the life of the loan to be eligible for the rate discounts.
Investment Property Interest-Only Home Equity Line of Credit and APR:
The Annual Percentage Rate (APR) is as low as 11.50% as of 07/27/2023. The Floor Rate is 6.95%. Maximum APR is 18.00%. The APR is a variable rate, plus or minus a margin, and is based on the Prime rate (index – as published in The Wall Street Journal). The margin is determined based on credit history, loan amount and combined loan-to-value (CLTV) ratio. Rate will not increase or decrease more than 2% annually. A home equity line-of-credit is secured by the member’s home and is available only for 1 family residential properties and condominiums, excluding co-ops. Minimum line-of-credit amount: $50,000. No draw required at closing. No application or termination fees; appraisal fee varies. No pre-payment penalty. Mortgage tax may apply in some states. This Home Equity Line-of-Credit is not available in TX. All loans are subject to credit approval. Investment Property Interest-Only HELOC: For discounted rates (0.25%), a new Checking Account with Quorum must be established prior to closing. (Minimum monthly balance of $5,000) and New CD with Quorum must be established prior to closing. (Maintaining at least $50,000 in CDs any duration). Requirements must be satisfied at account opening and maintained through the life of the loan to be eligible for the rate discounts. Requirements must be satisfied at account opening and maintained through the life of the loan to be eligible for the rate discounts. One unit only, minimum loan amount $50,000.