Unlock the Power of Your Home’s Equity
Your home is likely your greatest investment-it’s time to let it work for you. A Home Equity Line of Credit (HELOC) from TruGrocer gives you a flexible, revolving access to funds based on the value you’ve built in your home.
Why Choose a TruGrocer HELOC?
Whether you are planning a major renovation or consolidating high-interest debt, our HELOC is designed with the flexibility you deserve.
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Borrow More for Less: Access up to 85% of your home’s appraised value (minus your first mortgage).
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Competitive Rates: Rates as low as Prime - 0.50%.
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Low to No-Cost Entry: We pride ourselves on keeping closing costs and fees at a minimum so more of your equity stays in your pocket.
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Spending Flexibility: During your draw period, you have the flexibility to manage your cash flow by only paying on what you use.
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Protect Your Payments: Life happens. Ask us about our Optional Debt Protection to safeguard your loan during qualifying life events.
How It Works: The Two Phases of Your HELOC
A HELOC isn't a one-time loan; it’s a long term financial tool built to support your changing needs over 15 years (180 months).
Phase
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Duration
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What Happens
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The Draw Period |
5 Years (60 Months) |
Borrow what you need, when you need it. You only pay interest on the amount you actually use. |
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The Repayment Period |
10 Years (120 Months) |
Your balance is amortized into manageable monthly payments ($100 minimum) to ensure your loan is paid off by the end of the term. |
Common Ways to Use Your Equity
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Home Improvements: Upgrade that kitchen or repair the roof to protect or increase your property value.
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Major Purchases: Finance large purchases such as vehicles, boats, or recreational equipment without taking out a separate loan.
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Landscaping & Outdoor Living: Build a deck, patio, pool, or outdoor kitchen to enhance your home and lifestyle.
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Debt Consolidation: Combine high-interest credit cards into one lower-rate monthly payment.
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Life’s Big Moments: Fund education costs, medical expenses, that once-in-a-lifetime trip, or dream wedding.
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Emergency Fund Backup: Access funds for unexpected expenses like major car repairs, appliance replacement, or temporary income gaps.
A Note on Tax Deductibility
Under the 2018 Tax Cuts and Jobs Act, interest on home equity debt is generally only deductible if the funds are used to buy, build, or substantially improve the home securing the loan or line-of-credit. Since every situation is different, we encourage you to consult a qualified tax advisor to determine how these laws apply to you.
Ready to Get Started?
Expert support, wherever you are. Apply online in minutes or connect with a loan expert by phone—either way, we’ll guide you every step of the way and make the process seamless.
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Have Questions? We Have Answers. Your home equity is a big deal. Speak with a TruGrocer Loan Specialist by calling 1-855-320-6460, extension 3, for personalized guidance on your application, or
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Visit Us: Stop by any TruGrocer branch to discuss your goals in person.
Apply Now
Life is full of changes—and having a plan can make all the difference. Optional Debt Protection can help support your loan payments during qualifying life events, giving you one less thing to worry about. It’s just one more way to protect what matters most and move forward with confidence. We’re here to help you choose the option that’s right for you. Learn more!
Early Disclosure
Important Terms & Conditions:
At TruGrocer Federal Credit Union, we want to give you clear information so you can decide whether a Home Equity Line of Credit (HELOC) is right for you.
Terms, conditions, rates, and fees apply to all TruGrocer Federal Credit Union HELOC programs. Offers may change at any time without notice. This is not a commitment to lend. All applications must meet credit qualification standards, underwriting requirements, property conditions, and applicable TruGrocer Federal Credit Union policies.
A TruGrocer Federal Credit Union HELOC is secured by your primary residence, and the home must be considered real property and permanently attached to a foundation.
You may be responsible for certain third-party closing costs. These typically range from $150 to $1,200, though they may be higher depending on the property location and required services. HELOCs have a minimum line amount of $10,000, and minimum draw or transaction limits may apply. There are no prepayment penalties and no annual fees for maintaining your HELOC.
We also offer a no-cost HELOC option. Under this program, additional terms and conditions apply, including specific eligibility requirements, property standards, and underwriting guidelines. The maximum credit limit available through the no-cost HELOC option is $250,000. All no-cost HELOC requests remain subject to TruGrocer Federal Credit Union approval and applicable state and federal regulations.
Properties located in Texas are subject to additional conditions and restrictions.
This information is provided to help you explore whether a TruGrocer Federal Credit Union HELOC may support your financial goals.
Frequently Asked Questions
TruGrocer offers low-to-no-cost HELOC options to help you keep more of your home's equity. Depending on your property and loan details, some third-party fees may apply—but we’ll clearly explain any costs upfront so there are no surprises.
If you have a first mortgage, you may borrow up to a combined (1st mortgage + HELOC) limit of 85% of your home’s appraised value (or up to 80% if your home is in Texas). The minimum line amount is $10,000, and your final credit limit depends on your credit history, income, and the amount of equity you’ve built in your home.
Once your line of credit is established, accessing your funds is simple and can be done entirely from home. You can transfer funds (minimum limits apply) through CU Online* (TruGrocer’s Online Banking), our Mobile App, or by calling a TruGrocer Associate at 1-855-320-6460 (Option 3). *Online withdrawals not available in TX.
Your TruGrocer HELOC features a 60-month (5-year) draw period, during which you can access funds as needed. During this time, your monthly payment will vary based on your outstanding balance and interest rate, with a $100.00 minimum payment. This gives you the flexibility to borrow only what you need and repay it as you go.
After your 60-month draw period concludes, you enter the repayment period. The remaining term for your HELOC is 120 months (10 years). During the final 10 years, your outstanding balance will be amortized, and you will make equal monthly payments until it is paid in full.
Under current tax laws, interest on a HELOC is generally only deductible if the funds are used to buy, build, or substantially improve the primary residence that secures the loan. This applies to both new and existing HELOCs. If you use the funds for other purposes, such as debt consolidation or medical bills, that portion of the interest may not be deductible.
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