Home Equity Loans

home equity

Spending your savings on a major expense doesn’t always make sense.

A better solution for homeowners may be a Prime Home Equity Line-of-Credit (HELOC)1 or a Single Advance Home Equity Loan from Dow Credit Union. A HELOC or Home Equity Loan can be used for major purchases, remodeling projects, home repairs, emergencies, or to pay off higher-rate debt. Plus, they both qualify for our potential year-end Loan Interest Rebate, which is a part of our unique Member Giveback.2

Dow Credit Union offers a fast, 10-day conditional approval3 and competitive closing costs.4 Most importantly, your loan is serviced at Dow Credit Union.

Both the Prime Home Equity Line-of-Credit and Single Advance Home Equity Loan offer loan amounts up to $250,000 and are available on primary and secondary homes.5



1. HELOC Annual Percentage Rate (APR) varies quarterly based on the Wall Street Journal prime rates + 0.00% in effect on the 25th of the month preceding the end of the calendar quarter. The potential maximum rate is 18.00% APR. HELOC draw period is 10 years. Other limitations may apply. 
2. While Member Giveback rebates and rewards occur with great regularity, this credit union benefit is not guaranteed. Not all loan and deposit products are eligible for Member Giveback consideration. Some limitations apply.
3. Conditional upon completed application and required documentation being provided by the applicant. 
4. Borrowers will be required to pay fees to third parties for the appraisal and tax service fees. You will be required to pay the actual cost of the appraisal and tax service at closing. In certain situations, borrowers will also pay for other fees or charges to third parties that are necessary. Borrowers may receive, upon request, an itemization of the fees imposed by third parties. 
5. Membership eligibility required. Loans subject to approval based on creditworthiness of applicants and collateral conditions. Limited to developed, non-agricultural, non-income producing homes located within Michigan. Maximum percentage financed: 90% of property valuation. Other loan limitations may apply. 

Just getting started? Ready to apply?


Check out our rates

Qualified borrowers who already have a Dow Credit Union rebate-eligible mortgage1 or single advance home equity may be eligible for the Instant Rate Modification Program, which allows members to apply to lower their interest rate as frequently as they wish when rates decline – without a full refinance. For a fee, members may be able to lower their rate a minimum of 0.250% to the current rate. The Mortgage Rate Modification fee is 0.75% of the outstanding principal balance on the date the application is received, up to a maximum of $1,250.00. Dow Credit Union reserves the right to change or terminate the rate modification program at our discretion.

If you have additional questions or would like to apply, please call 800.835.7794 or submit a Secure Message available within Online Banking or our Mobile App.

  1. Excludes Adjustable-Rate Mortgages

For your security, the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act requires credit union mortgage loan originators to register with the Nationwide Mortgage Licensing System & Registry (NMLS). The NMLS numbers for Dow Credit Union & our loan officers are listed below.

Dow Credit Union NMLS ID: 631514

Mortgage Loan Origination Staff

Allison HagleNMLS ID: 1641499
Angie HillierNMLS ID: 732413
Conner HartNMLS ID: 2336771
Debra SovaNMLS ID: 652927
Katie SchweppeNMLS ID: 212274
Kip MeservaNMLS ID: 732416
Kristina BrozzoNMLS ID: 732412
Laura SharpNMLS ID: 1856331
Lisa HartleyNMLS ID: 732418
Nicole KruegerNMLS ID: 2151468
Nikole ReeceNMLS ID: 1174990
Sean HaneyNMLS ID: 1449685
Sheryl ThirkillNMLS ID: 533737
Tonya BreedenNMLS ID: 2006994
Tracy HoagNMLS ID: 1641498

For more information, please see:  www.nmlsconsumeraccess.org.

Please contact us either by phone or email and we will get back to you within three business days.



Ask for the Loan Servicing Manager or Member Solutions Manager.


Use our email contact form.

Make sure to title the subject of your message with Mortgage Dispute Escalation.