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
  • As low as Prime Rate minus 0.50% or floor of 4.00%, whichever is greater⁺
• 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 

*Fees and charges may apply.  Such as an appraisal fee of $485 for loan amounts over $250,000 and any recording tax if applicable by state and is charged by the county recording the mortgage. 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.  ⁺The current Prime rate as of July 27, 2023 is 8.50%.  The loan rate will never go below 4.00% and never go above 18%.

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