In a home equity line of credit (HELOC), your home serves as collateral against a revolving credit line. Your home’s equity, which is your home’s appraised value less existing mortgages and other liens, helps determine your credit limit. You can then borrow money from this line of credit whenever you need to. As you pay back the principal, your credit replenishes and you can use it again. In this way, a HELOC works similar to a credit card, except at much lower variable interest rates. Since this financing option provides you with the flexibility to borrow whenever you need to, it can be a good way to pay for recurring expenses. However, a HELOC can be used for most any financial need, including: So take out a RAH Federal Credit Union HELOC for a convenient way to finance your dreams, goals and other expenses that is designed to save you money! Our HELOC features credit-based pricing, which means the better your credit is, the lower your rate will be. This allows us to best meet your financing needs with the lowest rate possible. In addition, the interest rate is capped so that it cannot climb higher than a determined percent during the life of the line.