Flexible Funding, Backed by Home Equity
A Home Equity Line of Credit from Filer gives you flexible access to funds at rates typically lower than credit cards or personal loans. Borrow only what you need, when you need it.
Inquire OnlineHome Renovations
Fund upgrades and repairs to increase your home's value.
Debt Consolidation
Combine high-interest balances into a single, lower-rate payment.
Education Expenses
Help pay for tuition, certifications, or professional development.
Emergency Fund
Keep a line of credit ready for unexpected expenses - draw only when needed.
Find the Right Home Equity Option
We offer three home equity products designed to fit different needs - from predictable fixed payments to flexible lines of credit with interest-only options.
Fixed 2nd Mortgage
10-Year Adjustable HELOC
Interest-Only HELOC
How It Works
Our team will walk you through every step - from application to closing.
Inquire
Inquire online or speak with one of our lending experts. We'll review your eligibility and discuss the right program for your needs.
Property Valuation
In most cases, we don't require a formal appraisal. Your home's value can be determined by an existing Filer appraisal (within 12 months), or an AVM - Automated Valuation Model.
Approval & Closing
Once approved, we'll finalize your terms and set up your credit line. You'll have access to your funds and can draw as needed (after appropriate waiting period).
Use Your Funds
Draw from your line of credit whenever you need - for renovations, consolidation, education, or emergencies. You only pay on what you borrow.
What to Expect
We believe in transparency. Here's what you need to know about costs, property valuation, and eligibility.
💰 Fees
- $500 processing fee
- Title insurance, flood determination, recording fee, and credit report charged at cost
- $25 late fee and returned check fee if applicable
- No appraisal required in most cases (Fee Applies if Required)
🏡 Property Valuation
In most instances, we do not require a formal appraisal. Your home's value may be determined by:
- An appraisal from an existing Filer Credit Union loan
- An AVM (Automated Valuation Model)
📋 Eligibility
- Must be a Filer Credit Union member
- Property must be in the state of Michigan
- Primary residence, second home, or investment property
- Property secured by a real estate mortgage recorded with your county's Register of Deeds
📐 Rate Details
- Variable rate index: Federal Prime Rate
- Rate adjusts quarterly
- Maximum rate ceiling: 16% APR
- Minimum rate floor: 3% APR
- Payments due on the 1st of each month
Ready to Put Your Home's Equity to Work?
Apply online today or speak with one of our lending experts. We'll help you find the right program and estimate your credit limit.
Filer Credit Union | 1117 28th St. P.O. Box 375, Manistee, MI 49660 | 231-723-3400 | 800-595-6630 | NMLS# 407814
All home equity loans and lines of credit are subject to credit approval. Rates, terms, and conditions are subject to change without notice. Property insurance is required. Flood insurance may be required. The Annual Percentage Rate (APR) on variable-rate products may increase after consummation. The variable rate is based on the Federal Prime Rate plus or minus a margin; the rate adjusts quarterly. Maximum APR is 16%; minimum APR is 3%. A $500 processing fee applies plus title insurance, flood determination, recording fee, and credit report at cost. Consult a tax advisor regarding deductibility of interest.
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. NCUA. Equal Housing Lender.
If you are using a screen reader or other auxiliary aid and are having problems using this website, please call 616-285-5711 for assistance.
Online draws are subject to a minimum of $500 and a maximum of $25,000 per transaction. Draws exceeding $25,000 may be requested by contacting Filer Credit Union directly at 231-723-3400 for assistance.