Leverage the Value in Your Home

Your home is likely your most valuable asset. We can help you leverage its value to help reach your biggest goals. From remodeling your home to consolidating high-interest debt, you can get the cash you need through a GOLD Home Equity Loan or Line of Credit.

So, what's home equity, anyway? It's the difference between your home's market value and the remaining balance on your first mortgage and any other mortgages or home equity loans secured by your home. Your home equity can increase over time if the property value increases or the loan balance is paid down. A home equity loan or line of credit lets you borrow against that equity at a low rate and terms up to 20 years. While we caution against using your home as collateral for smaller, short-term borrowing needs, it can be a wise move to lower the long-term cost and monthly impact of larger, high-interest debt, larger investments, or major expenses that you encounter.

Properties must be owner-occupied, deeded in the borrower's name(s), and classified as a one-to-four-family dwelling. While our home equity lending is specialized in Pennsylvania and New Jersey, don't hesitate to ask about properties in other states.

Loan or Line of Credit?

Which home equity product should you pick, loan or line of credit?

Each has its advantages. A GOLD Home Equity Loan, for instance, gives you a one-time payout with a fixed rate and payments, perfect for a large purchase. On the other hand, our GOLD Home Equity Line of Credit (HELOC) gives you more flexibility, letting you borrow as needed and only pay on the funds you use, similar to a credit card.

Both feature competitive APRs, generous limits, and flexible terms.

kidreading-desktop kidreading-desktop


Home Equity Loan

If you're faced with a large important purchase, you're determined to consolidate your debt by your target date, or you just see an opportunity to refinance your mortgage for a better rate or shorter term, a GOLD Home Equity may be for you. This is a secured loan that uses your primary residence as collateral. You'll get a low fixed rate and an affordable monthly payment that will never increase.

Our Members often use their loan for debt consolidation, college tuition payments, or home renovations. Whatever your plan, we’re here to advise you on what makes sense as long-term versus short-term debt and can help you decide if a GOLD Home Equity Loan is the best option for you.

You'll receive a single lump sum when you sign on your loan to use toward whatever big purchase(s) you have on the horizon. Your payments on the loan are fixed for the life of the loan so that you can budget effectively.

  • Competitive rates
  • Fixed monthly payment
  • Choice of rates with terms up to 20 years (240 months)
  • No prepayment penalties
  • No application or annual fees
  • Low or no mortgage recording fee
  • Tax-deductible interest*
  • Optional Credit Life and Disability Insurance available to protect you and your family
Apply Now


Home Equity Line of Credit (HELOC)

Planning a major home renovation or another ongoing project? Use the equity in your home to keep cash accessible through a GOLD Home Equity Line of Credit (HELOC). A HELOC is a variable-rate secured loan that uses your primary residence as collateral. It'll get you the funds you need, when you need them, on a recurring basis.

Our Members often use their line of credit for home improvement projects, ongoing medical expenses, or just to have available for emergency expenses.

With a HELOC, you'll enjoy the convenience of having the cash you need when you need it most. You can borrow up to 80 percent of your home's appraised value, minus the balance owed on your mortgage and any other loans tied to your home.

  • Revolving line of credit
  • Low variable rate
  • 10-year (120-month) draw period and 15-year (180-month) repayment period
  • Easy access to funds through Online Banking and the GOLD App
  • GOLD Debit Card or checks linked to your account (by request)
  • No prepayment penalties
  • No application or annual fees
  • Low or no mortgage recording fee
  • Tax-deductible interest*
Apply Now

Loan vs Line Comparison Chart

  GOLD Home Equity Loan GOLD Home Equity Line of Credit (HELOC)
Summary You need a specific amount for an immediate need. You expect to need funds over time. 
Rate Type Fixed One lump sum distribution when you sign on your loan.
Access Your Funds One lump sum distribution when you sign on your loan. Easy, ongoing access throughout the draw period. 
Make draws of as little as $100 Transfer funds to your GOLD Checking or Savings via Online Banking 24/7 GOLD Debit Card or checkbook for direct line access (by request). Request draws even by phone by calling 484-223-4200. 
Max Term 20 years (240 months) 10 years (120 months) draw 15 years (180 months) to repay from last draw.
Fees* No prepayment penalties 
No application or annual fees 
Low or no mortgage recording fee
No prepayment penalties 
No application or annual fees 
Very low closing costs
Insurance** Optional Credit Life and Disability Insurance available to protect you and your family.  N/A

Our Loan Department would be happy to help you decide which type of loan is best for you. Call us at 484-223-4216 for a no obligation consultation.

*View our current loan rates and fee schedule. Mortgage fees and closing costs will vary by county and loan amount.

**Credit Life and Disability is offered through MEMBER’S CHOICE® and is a voluntary insurance product. Your financing outcome is not based on your selection of this product. Contact Credit Union for plan details.

Current Rates

Rates effective 05/01/2021

GOLD Home Equity Loans
Terms APR1 as low as
Up to 60 Months 3.25%
61-120 Months 3.49%
121-180 Months 3.99%
181-240 Months 4.49%

GOLD Home Equity Line of Credit
Term APR1 as low as
180 Months 4.50%2

Apply Now

Home Equity FAQs

A fixed-rate loan has an interest rate that will not change over the life of the loan. GOLD Home Equity Loans typically have a fixed rate. With a variable rate, your interest rate is tied to an index, namely the Prime Rate as published in The Wall Street Journal, meaning it can change over time. GOLD Home Equity Lines of Credit (HELOCs) typically have a variable rate.

No. At GOLD Credit Union, we only offer Home Equity Loans and HELOCs on primary residences. It must be an owner-occupied, one-to-four family dwelling.

No. There are many ways to put your loan or line of credit to use. Many of our Members use theirs to make home improvements, consolidate debt, and pay college tuition.

Your draw period is the fixed length of time during which you can access funds from your HELOC. Our HELOCs have a 120-month draw period.

Your repayment period begins when your draw period ends. Our HELOCs have a 180-month repayment period.

Swoosh for Protect Your Future Mobile Swoosh for Protect Your Future gettyimages-626773718

Protect Your Future

There’s no way to predict life's curveballs — but did you know you can protect your loan? Credit Life and Disability Insurance will help you make your monthly payments in the event of a covered life event, injury, illness, or death.

Ready to get started?

Click "Apply Now" to get started, or call 484-223-4216 during normal business hours to receive a free consultation and quote or even to apply over the phone if you're ready. 

All residential mortgage loan originators (MLOs) are nationally registered under a unique identifier. The unique identifier allows consumers to pull up employment history and any disciplinary and enforcement actions against MLOs in a publicly searchable online database. Click here to view the list of active GOLD MLOs.
Apply Now

You are now leaving GOLD Credit Union's website. This site is provided with the sole intent of providing helpful and convenient information for our members. We recommend that you consult the privacy disclosure on all websites before continuing. GOLD Credit Union is not responsible for any content on any other website, and does not represent either the third party or you, the member, if you enter into a transaction.

Continue        No, Go Back