DCCU Routing # 251483311
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Do everything you can do online, plus deposit checks and use your fingerprint or Face ID for quicker access to your account.
Try Our Mobile App
Do everything you can do online, plus deposit checks and use your fingerprint or Face ID for quicker access to your account.
Limited-Time Offer
Make the most of your home's value and be ready for what’s next with Home Equity Plus! For a limited time, we’re offering:
Plus, you can earn a 10% rebate on the interest you pay each month with our Rebate Program.
Whether you're planning to renovate, consolidate debt, pay for education, or want to be prepared for unexpected expenses, Home Equity Plus makes it easier than ever to tap into your home's equity and put your plans into action. Offer ends June 30, 2025.
Why Choose Home Equity Plus?
Home Equity Plus starts as a line of credit and allows you to conveniently convert up to 3 fixed loan segments for a 5 or 10-year term. The available limit on the line of credit returns to the original line of credit limit as monthly principal payments are applied. Home Equity Plus offers the flexibility you need because it’s a line of credit and a fixed-rate loan – all in one!
How Could You Use Home Equity Plus?
- Emergency home repairs - roof repairs, flood damage, plumbing issues
- Major appliance replacement - replace heating/cooling systems
- Home renovations - remodel kitchen or bathroom, add a deck/patio, replace windows
- Debt consolidation - combine other higher interest balances into one
- Education expenses - cover tuition, housing, books and supplies
- And more!
Have questions? We’re here to help. Don’t hesitate to stop by a branch or give us a call at 540-946-3200 and we will be happy to assist!
Membership required. Subject to creditworthiness and collateral limits. Offer applies to funded loans for applications submitted 04/01/2025 – 06/30/2025. Minimum loan amount of $10,000 required for no closing costs and no appraisal fee. Appraisal only ordered if required. Appraisal fee paid by the member and then reimbursed at closing. Appraisal fees vary, maximum reimbursement is $750. If account is closed or paid off within 24 months of opening it, you will pay a reimbursement fee equal to the amount of closing costs and appraisal fee paid by DCCU. Minimum and maximum loan or credit limits apply. Line of credit balances under the plan have a variable rate of interest and the minimum monthly payment can change as a result. Variable balances may be converted to fixed rate/fixed term balances, a $25 fee will apply. Fixed balances have a fixed rate of interest for the fixed term selected at the time of conversion. Max APR is 17% for variable rate balances and 18% for fixed term/fixed rate balances. Property insurance is required. Title insurance required for loans greater than $400,000 and must be paid by the member. Terms, restrictions, and fees may apply.
Features & Benefits of Home Equity Plus
Home Equity Plus is the smart way to unlock your home’s value to pay for things you need like home improvements, education costs, debt consolidation, preparing for unexpected expenses, and more.
Help Me Decide
- Advantages
- Best Choice For
- Disadvantages
Advantages
- 20 year draw period with an additional 15 year repayment period
- Interest begins to accrue with 1st advance
- Principal can be reused as payments are paid
- Interest rate and payments that may adjust down with market movements
- No fees, excluding appraisals, with a minimum $10,000 line of credit
- Streamlined application for fast approval
- Convert from Variable Rate to a 5 or 10 Year Fixed-Rate at any time
- One time closing for the life of the product
Best Choice For
- Having a line of credit with extended advance options and a longer payment term.
- Having the convenience of having funds available and ability to convert to a fixed rate at any time.
- Accessing cash for an ongoing project
- Building a safety net for unexpected expenses
Disadvantages
- Your home is being used as collateral in this secured loan
- The interest rate you pay is variable, meaning it can change over time
- Risk of taking on more debt
- Reduces the amount of equity already invested in your home
- Depending on how much you withdraw, you might be stuck with large principal and interest payments during the repayment period
How Home Equity Plus Works
It’s the smart way to unlock your home’s value to pay for things you need like home improvements, education costs, debt consolidation, preparing for unexpected expenses, and more.
For example:
- You apply and are approved for $35,000 Home Equity Line of Credit
- You decide to remodel your kitchen at an estimated cost of $15,000.
- Pay for the renovations from the line of credit until the renovation is complete and the actual cost is known.
- Once the project is complete, with Home Equity Plus you can use Online Banking or the Mobile App to convert the $15,000 to a 5 or 10 year fixed loan with scheduled monthly principal and interest payments.
- You now have $15,000 locked into a fixed rate, and the remaining $20,000 balance in your line of credit is available for future needs.
- Make one monthly payment for both the fixed loan segment and any minimum payment due for the line of credit.
- As monthly principal payments are made, the available limit on the line of credit returns to the original amount.
Home Equity Loan Options
- Preferred Home Equity Plus – 80%
- Mortgage is with another lender
- Rate
- 7.500%
- APR
- 7.500%
- Preferred Home Equity Plus – 90%
- Mortgage is with another lender
- Rate
- 7.750%
- APR
- 7.750%
- Premier Home Equity Plus – 80%
- Mortgage is with DCCU
- Rate
- 7.000%
- APR
- 7.000%
- Premier Home Equity Plus – 90%
- Mortgage is with DCCU
- Rate
- 7.250%
- APR
- 7.250%
INSIGHTS & ADVICE
Why Choose Home Equity Plus Over a Credit Card
Home Equity Plus gives you the flexibility of payment options and a low interest rate.
Kyle Scaife
Comparing HELOC to a Credit Card:
Both Allow For:
- Easy access via online banking and mobile app
- Both can be used to pay for home improvements, education, and unexpected expenses
Home Equity Loan is a better choice than a credit card for:
- Lower interest rates
- Flexibility to use funds for wider variety of reasons
- Paying off debt to save money
- Pay down the principal faster
What You'll Need to Get Started
Ready to get started, but don't know where to begin? We’re here to help! With this handy guide, you’ll have a better idea of what you’ll need to prepare for the next step: filling out the Home Equity Plus application.
Residential Address Information:
- Property Address
- Current Monthly Housing Expenses
Loan Information:
- Tax Assessed Value
- Loan Amount
Employment:
- Employer
- Monthly Income
Monthly Expense:
- Mortgage
- Job Expense (if any)
- Alimony
- Child Support
- Tax
Note: If you are not a DCCU member you will need valid Driver’s License information, including ID number, expiration date, and issue date in order to apply.
Additional Resources
Ways to Use Your Home's Equity
When it comes to utilizing the equity in your home, the most common use is home improvement projects. Today on the blog, we explore some of the other ways to use your home's equity with Home Equity Plus.
Read Blog
Find Financial Flexibility with DCCU's Home Equity Plus
When borrowing money for the things you need, DCCU's Home Equity Plus can provide financial flexibility. Here we’ll discuss a few features and benefits of Home Equity Plus from DCCU.
Read Blog
Top Projects That Can Help Preserve, or Even Boost, Your Home's Value
Using the Equity in your home is a cost-effective way to pay for some of the larger projects you have in mind.
Read Blog
Contact Us
Local Calls: 540.946.3200
Out of Area Calls: 800.245.8085
P.O. Box 1365,
Waynesboro, VA 22980
Local Calls: 540.946.3200
Out of Area Calls: 800.245.8085
P.O. Box 1365, Waynesboro, VA 22980
© 2024 DuPont Community Credit Union