Home Equity Loans and Lines of Credit

Use the equity in your home for a fixed-rate Home Equity Loan or variable-rate HELOC in Delaware.

Start imagining the possibilities by using the equity in your home to get the cash you need. You can get fixed-rate loans and variable-rate lines of credit at competitive rates. These are not just the best home improvement loans – you can use the funds for anything.

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Apply Now

Schedule an Appointment

Fixed-Rate Home Equity Loan

Competitive, fixed interest rates
Best used for several short-term or one-time needs
The existing equity in your home is used as collateral backing
Pay no points and no closing costs*

Various repayment terms that work uniquely for you
Interest paid might be tax deductible**
Local decision-making and processing right here in Delaware
Friendly service from one of the best Delaware Home Equity Loan lenders

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Variable-Rate Home Equity Line of Credit

Competitive, variable interest rates
Best used for recurring or seasonal needs such as education expenses, home improvements, debt consolidation and more!
Various repayment terms that work uniquely for you
Funds available anytime without reapplying
Revolving credit – as principal is repaid, more becomes available for use

Funds easily available through checks or via in-person or phone transfers to a Del-One FCU checking account
Interest paid might be tax deductible**
Set up monthly automatic payments to deduct from your account
Friendly service from one of the best HELOC lenders in Delaware

Apply for a Loan

*Conditions/restrictions apply. NMLS ID# 543572
**Consult a tax advisor.

Current Home Equity Loan and Home Equity Line of Credit Rates

Account		APR^A
Home Equity Loans	Rates as low as…	6.00%
Home Equity Line of Credit (HELOC)*	Rates as low as…	7.00%^B

A) A.P.R.= Annual Percentage Rate
B) Rates based on the Prime Rate of 1/1/2025

Rates subject to change. Current loan rates accurate as of date listed below. Other terms and rates available. Contact us about applicable fees and terms.

Effective 3/29/2025

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Plan For The Unexpected

Does your family have a safety net if the unexpected hits? Click here to learn more about our optional debt protection, to protect your new/existing loan(s), or to file a claim.

HOME LOAN FAQs

What is the difference between a Home Equity Loan vs. a HELOC?

A Home Equity loan (fixed rate) is a closed-end loan with a specific amount and time for repayment.

A Home Equity Line of Credit (variable rate) is a revolving account with a pre-set limit allowing the borrower to make draws as needed.

Learn more about our Mortgages at Del-One Federal Credit Union

How long does it take to get a mortgage loan?

Most loans take an average of 30 – 45 days from receipt of a complete application package to closing.

By providing your Mortgage Loan Originator with all of the required documents upfront, you will participate in expediting the process.

Learn more about our Mortgages at Del-One Federal Credit Union.

How can I get a mortgage pre-approval?

At application, we offer members the opportunity to lock in the rate or to float the rate and lock in at a later date prior to closing.

Learn more about our Mortgages at Del-One Federal Credit Union

What is a Home Equity Line of Credit?

A line of credit is a revolving account allowing a borrower to make draws as needed up to a pre-set limit. The primary residence is used as collateral for the line of credit.

If I get a 1st mortgage with the credit union, where will I do my closing?

If you obtain a mortgage with Del-One, your closing will be held at a title company/attorney’s office.

How can I get more information on a 1st mortgage loan?

At Del-One Federal Credit Union, we are happy to offer the best mortgage options for you! Learn more about our Mortgages at Del-One Federal Credit Union.

Do I need to provide you with proof of my Homeowner's Insurance?

Yes, all properties secured by a mortgage or home equity loan require proof of homeowner’s insurance. If your property is located in a flood zone, we will require proof of flood insurance coverage.

How is my final mortgage rate calculated and when is that rate confirmed?

We will lock every member’s interest rate at the time of application and there is no lock-in fee. The rate will be guaranteed for a period of 60 calendar days.

What is a form 1098 and when should I receive it?

The 1098 tax form reports the amount of interest paid on your mortgage loan during the tax year.

Note: If you paid $600 or more in interest during the year, this form will be sent to you by January 31st.

What is Mortgage Insurance?

Mortgage insurance is an insurance policy that protects the lender in case the loan goes into default. Required on loans with a loan to value (LTV) greater than 80%. Mortgage insurance is also referred to as private mortgage insurance or PMI.