Home Equity Line of Credit

Pay for home renovations or higher education. Take the trip of a lifetime, replace ancient appliances or cover emergency medical bills. With an affordable Home Equity Line of Credit, you can quickly tap into a loan fund and cover any kind of financial need.  

• Credit limit based on available equity in your home
• Variable interest rate based on Prime Rate
• One easy application provides repeated access to funds
• Fast access to funds through checks, online and mobile banking, and at Scient branches
• No closing costs*
• No annual fees
• Interest-only minimum payments during draw period
• Up to 100% total loan-to-value
• Minimum loan amount of $10,000
• No pre-payment penalty 
• After promotional period, rate will increase to a variable rate of interest as low as Prime Rate minus 0.50% or floor of 4.00%, whichever is greater. 

*APR= Annual Percentage Rate. 10-year draw period. Promotional rate will apply for 12 months from loan opening date. After that period, rate will increase to a variable rate of interest as low as Prime Rate minus 0.50% OR floor of 4.00%, whichever is greater. After promotional period, rate will never go below 4.00% and will never go above 18.00%. As of November 8, 2024, Prime Rate is 7.75%. Owner-occupied Primary Residences only. Up to 80% Total Loan-to-Value for qualified loan. $250,000 maximum. All loans are subject to credit approval. Your overall creditworthiness may determine interest rate and line amount available to you.  If you close your HELOC account within 24 months after it is opened, you will be required to promptly repay Scient the Third-Party Closing Costs. Offer valid from September 9, 2024 and may be canceled at any time without notice.  Existing Scient home equity lines/loans are not eligible for refinance with this promotion. This credit union is federally insured by the National Credit Union Administration and is an Equal Housing Lender. Fees and charges may apply.  Please see the credit union for details. A membership fee of a minimum of $5.00 is also applicable if not already a member of Scient. HELOC is a variable rate loan based on Prime Rate.   

Scient FCU is a full-service credit union with branches in Groton, New London and New Haven Connecticut.