Home Equity Loans & Line of Credit

Home Improvement Equity Loan

Don't list it. Show it some love. Turn your home into a keeper with a CommonWealth One Home Improvement Equity Loan. It's an affordable and easier way to get the home of your dreams. You can borrow up to 133% LTV (loan-to-value)¥  of your home and use the cash to update your kitchen, add a bathroom, create a backyard oasis, or turn your basement into a plush hideaway. With the option to borrow up to $250,000, you'll have the funds you need to do just about any home improvement project your heart desires.

  • Borrow up to 133% LTV¥
  • Loan amounts from $15,000 up to $250,000
  • Fixed Rate as low as 6.99% APR*
  • Terms up to 15 years

EquityLine (Home Equity Line of Credit)

Imagine cooking dinner in a new kitchen, renovating that bathroom, finishing the basement or much more! Renovate your home with a home equity loan or line of credit from CommonWealth One.

  • Introductory Rate as low as 3.99% APR1 for Six Months
  • Borrow up to 90% loan-to-value of your home
  • Variable line of credit terms from $15,000 up to $250,000
  • Interest only or interest plus principal payment options
  • Access using EquityLine checks or transfer funds to your checking account 
  • ProtectONE Debt Protection Package


  • Minimum loan or line of credit amount is $15,000 and maximum loan or line of credit amount is $250,000.
  • ¥LTV = Loan-To-Value. 133% LTV applies to the Home Improvement Equity Loan. Proceeds must be used for home improvements only and documentation of bid/materials list/invoice will be required before loan disbursement.
  • *APR = Annual Percentage Rate. Rates are subject to change at any time. All credit union rates and terms are based upon the evaluation of applicant(s) credit. Your actual rate may vary. Loans are subject to a minimum monthly payment of $45.00.
  • ¹Annual Percentage Rate (APR).  Rates subject to change without notice and varies based on Prime Rate.  EquityLine has an interest only payment option available.  The APR will adjust to the standard variable rate, currently 4.74% APR for Interest and Principal Payment Option and 5.74% APR for Interest Only Payment Option,  after the introductory period and will vary based on prime.  
  • Home equity loans are available on primary residences located in Virginia, Maryland, and Washington, DC.
  • Please check with your tax advisor regarding loan interest deductibility.
  • EquityLine has an interest only payment option available.
  • Closing costs include credit reports, appraisal fee, flood certification, title search, recording fees and mortgage transfer taxes. Members will be obligated to pay the closing costs associated with the closing of this loan request. If a drive by or a full appraisal is required to support the loan request, this expense will paid by the member. Total closing costs generally range from $100 to $1,000 based on the loan amount. Closing costs can be incorporated and paid with the loan proceeds. Members should retain a copy of the home equity disclosures. Member may receive a refund of any fees if the rate changes and the member decide not to complete the process.
  • Property insurance is required and flood insurance may be required.
  • Granting of a home equity loan may result in the credit union acquiring a security interest in the property.
  • Certain restrictions apply.

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