Everybody has unexpected expenses or cash shortfalls sometimes. Or maybe you want to consolidate high-interest debts, complete home improvements, or make a large purchase. Instead of emptying your savings accounts or cashing in stocks or other investments, you can use the equity in your home to open an Alliant Home Equity Line of Credit (HELOC). Alliant HELOCs have low interest rates and the flexibility of low monthly payments, too.
Borrow what you need,
now at a lower rate
Intro fixed-rate of 3.99% for 6 months1,2
(after intro period, standard variable rate of 7.75%-16.00% applies.)
Alliant HELOC Benefits
Ready when you need it
HELOCs give you a line of credit at the ready in case of unexpected expenses, such as home renovations or repairs.
Save money on fees
Maximize your loan with no appraisal fees or closing costs on lines up to $250,000.
Maximize borrowing opportunity
Alliant HELOCs allow you to borrow up to 85%2 of the value of your home.
How a HELOC Works
Draw period
Spend against your line of credit for the first 10 years, during which your payments will be interest-only based on what you borrow. As you pay down your balance, the amount you pay off becomes available for use again.
Rates
Alliant HELOCs have a six-month promotional rate, followed by a variable rate of interest, meaning your interest rate can change over the life of your credit line. There is a rate minimum and a maximum rate cap over the life of your loan.
Repayment period
After the 10-year draw period, you’ll pay principal and interest on what you’ve borrowed. This period is typically 20 years. During this period, you can expect higher payments than during the draw phase.
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FAQs
The amount of equity you currently have in your home will determine your Home Equity Line of Credit (HELOC) limit. You must retain at least 15% of the value of the equity in your home (sometimes referred to as a 85% LTV maximum). You can make a ballpark estimate of your HELOC maximum by calculating what 85% of your home’s value is, then subtracting your existing mortgage balance(s) from that number.
Yes! You can pay more than your minimum monthly payment to pay back your loan faster. In fact, it’s a smart money move to do so, as you’ll save on the interest you pay over the course of your loan! And Alliant won’t penalize you for paying back more than the minimum monthly payment.
You can transfer money from your HELOC in Alliant online banking, our mobile app or by phone.
After logging in to Alliant online banking, click into your HELOC account. Then select the Manage Account tab and click Order Checks. Select your HELOC account from the account dropdown and press the Continue button, then follow the prompts to select your preferred check layout and shipping options.
1. Special offers are subject to change. Alliant Credit Union may discontinue Introductory Rate Home Equity Line of Credit offers without notice, regardless of originally advertised offer period dates. All new accounts and loans are subject to approval. All loans are subject to Alliant Credit Union lending policies. Under certain circumstances—for example, if we cannot verify your income, or if any accounts are past due, over limit or if other underwriting criteria are not met—we may not be able to open a loan account for you, in which case you will be notified. Responding to this offer is not a guarantee of approval. Alliant Credit Union does not sell member information. See our Privacy Policy for details.
Fixed Introductory Rate Offer Information
The fixed introductory rate offer is available on new applications received from 03/27/2025 through 05/31/2025. The introductory rate is fixed during the introductory period. The introductory rate on new HELOCs is good for 6 months from the date of origination. No member or other discounts are available during the fixed rate introductory period.
Variable Rate Information After Introductory Period
The Annual Percentage Rate (APR) is a variable rate. Your qualifying rate may adjust monthly and is based on the highest Prime Rate as published in The Wall Street Journal as of the date of any rate adjustment plus or minus a margin. The APR range is from 7.75% to 16.00%. Loans without automatic payment selection from an Alliant Credit Union account are subject to an increase in rate and margin of 0.25%.
Alliant estimates the value of your home using Automated Value Models (AVMs) which are based on local real estate data. In rare cases where Alliant is not able to establish a value for your property through an AVM, an appraisal can be ordered at the applicant's expense to determine the estimated property value for lending purposes.
2. Interest-only Home Equity Line of Credit. Home equity products are available in the following states: AZ, CA, CO, CT, FL, GA, HI, IL, IN, KY, MA, MI, MN, MO, NC, NJ, NV, NY, OH, PA, TN, UT, VA, WA, WI and Washington, D.C. The minimum loan amount is $10,000. The minimum loan amount is $25,001 in WI and Washington, D.C. Offer subject to credit approval, which includes verification of application information and receipt of collateral documents. Rates and closing costs are subject to credit qualifications. Maximum loan to value of up to 85% depending on state in which the property is located and credit worthiness. The following states are limited to a maximum of 80% CLTV: AZ, CA, CO, FL, GA, ID, IN, MI, MO, NC, NV, SC, TN, UT. Initial rate is based on loan amount, loan to value and credit history. We may not extend credit to you if you do not meet Alliant criteria. The Annual Percentage Rate (APR) is a variable rate. Your qualifying rate may adjust monthly and is based on the highest Prime Rate as published in The Wall Street Journal as of the date of any rate adjustment plus or minus a margin. The APR range is from 7.75% to a maximum of 16.00%. Loans without automatic payment selection from an Alliant Credit Union account are subject to an increase in rate and margin of 0.25%. No closing costs (excluding applicant ordered appraisals) based on Interest-only Home Equity Line of Credit (HELOC) loans up to $250,000 and meeting Alliant criteria. A fee of $1,000 is applied to Interest-only HELOC loans more than $250,000. Minimum payment will not repay principal, which will result in a higher principal and interest payment at the end of the 10-year draw period. Costs to satisfy certain prior liens may be assessed. The Annual Fee of $50 will be waived the first year but will be assessed in subsequent years. You will incur the annual fee even if you don't have a balance. Property insurance is required. Flood insurance may be required. We will require a full appraisal, at applicant's expense, in the event your property is in a FEMA-deemed natural disaster area. If the state and/or county in which the collateral is located charges additional fees and taxes, the borrower will be responsible for payment. A $200 termination fee may be applied to an Interest-only HELOC cancelled or closed by the borrower within 36 months of origination. Refinancing of Alliant home equity products available; $250 fee on loans that do not increase the credit limit by $10,000 or more. Rates, terms, and conditions subject to change. Other restrictions may apply. Interest-only HELOC loans available on 1-to-2-unit owner occupied dwellings. Please consult with an Alliant Loan Consultant at 800-328-1935 ext. 2570 for more information on an Alliant Interest-only Home Equity Line of Credit.
