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Halt Rising Interest Rates

An improving economy means rising interest rates. BECU offers the flexibility of up to three active, fixed-rate advances on your line of equity.

A HELOC provides you with solutions; BECU delivers flexibility and peace of mind. In fact, BECU wants obtaining the loan to be as simple as possible. BECU offers a no-fee loan*, including no appraisal, origination, escrow, title search or title insurance fee. 

In addition with doing away with fees, we deliver great rates, too – it's all part of our not-for-profit approach. In fact, you'll find rates as low as 4.49% variable APR**. We also offer a fixed-rate advance rate option. You can lock in using our fixed-rate advance option – up to three active fixed-rate advances at once.
Having the fixed-rate option is ideal during a positive economic climate – rates only go up when the financial outlook is nothing but rainbows.

How does the fixed-rate option work?

 Say you have a HELOC worth $40,000, and you have $8,000 in outstanding debt. You're concerned about rising interest rates, and want to lock in the rate on what you already owe; you also plan to borrow $12,000 in the coming year for a bathroom remodel. Simply lock in the rate on the current $8,000. Then, when it's time to remodel, take a fixed-rate advance on $12,000. Keep in mind that rates are always changing: The rate you lock in today on your $8,000 may vary from the interest rate you lock in on the $12,000 you borrow a few months from now. However, you ultimately get the peace of mind by locking in the rate on major sums of money.


You now have two outstanding loans on your HELOC, both with locked interest rates. As time passes, you have multiple options on your remaining funds: lock in yet one more large advance, up to $20,000; draw from your remaining funds with no fixed rate; or, draw as you need it and eventually lock in a third advance once the amount exceeds $5K.

Fixed-Rate Features 

  • Lock in your interest rate
  • Apply to sums of $5,000 or more
  • Can be applied retroactively to outstanding debt
  • Maintain up to three active fixed-rate advances (sum total must not exceed your total credit amount)

Refinance your HELOC with BECU

Have a HELOC at another institution? Now is a great time to consider refinancing with BECU. Not only will you pay no origination fees and enjoy our great, low rates, but you'll also have the opportunity to lock in a fixed-rate advance while the rates remain lower.

HELOC Benefits

  • No origination fee, which means no application, no appraisal, and no closing fees
  • No pre-payment penalties
  • Consolidate high interest–rate debt at a lower rate
  • Protect yourself from rising rates with our fixed-rate option**. Up to three fixed-rates advances can be active at once. 
  • Use funds whenever you need, up to your available credit limit – simply transfer funds to your BECU checking account
  • Funds may be tax deductible! Consult your tax advisor

Get Started

Take advantage of the convenience and flexibility a HELOC offers. Explore your options by calling: 800-233-2328, or visiting any BECU location. You can make an appointment with a member consultant in advance.  

*Fees and Costs: in normal circumstances, Borrower will not have to pay any fees to open the HELOC, but will be required to pay for hazard insurance (including flood insurance, if applicable). Borrower must pay for optional services (e.g., retaining an attorney not required to open a HELOC). In South Carolina, where the law requires use of an attorney, BECU will be solely responsible for paying all attorney's fees and costs necessary to open the HELOC, and will perform this responsibility fully by paying all reasonable attorney's fees and costs related specifically to the closing based on rates typically charged by attorneys in the local market for the closing of similar HELOC transactions. Borrower will be responsible for paying state and local taxes, Western Union/speedpay fees, and fees for reconveyance or mortgage satisfaction, late payments, and subordination of similar change. Borrower must pay all charges related to any existing loan paid off by the new BECU HELOC (e.g., a prepayment penalty or payoff demand fee imposed by a previous lender). Borrower also must pay per diem interest.  Terms and conditions are subject to change without notice.

**The rate for the Home Equity Line of Credit (HELOC) is based on the highest Prime Rate as published in the Wall Street Journal as of the date of any rate adjustment plus a margin (4.49% variable APR as 7/1/2017). The actual rates for a HELOC may be higher than advertised rate for loans exceeding 70% combined-loan-to value (CLTV) or if you have lesser creditworthiness or if property is not a primary residence. Not every applicant will qualify. An Automated Value Model (AVM) may be obtained in lieu of an appraisal at no cost to the member. Primary residence property must be located in one of the  following states: WA, OR, CA, AZ, KS, MO, ID, IL, PA and SC. Rental/Investment property must be located in the State  of Washington. Home Equity Line of Credit APRs do not include cost and rate may vary monthly (maximum 18% APR).  During the credit advance draw period, payments are interest-only (principal is not reduced), with a minimum payment which is the lesser of $100 or your balance. At the end of the draw period, your monthly payment will increase equal to the principal and interest amount necessary to pay the loan balance over the remainder of the loan term.  FRAs provide for up to 15 years of monthly principal and interest payments, depending on the amount advanced. FRAs are subaccounts of a HELOC.  Loan Program offered, including rates and terms, is subject to change without notice. Loans are subject to credit approval and other underwriting criteria and not everybody will qualify.