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HELOC for Home Improvement

Use the equity in your home to pay for home improvements when your savings isn’t enough

Get a line of credit up to $150,000 with a rate as low as 3.25% APR*

Get an estimate
  • Overview

    Home improvements can be expensive

    According to a study by Harvard University, the improvements listed in the table below were the ten most popular projects in America in 2017.

    10 Most Popular Home Improvements (2017)

    Project Cost (average)
    Carpets, flooring, paneling, ceiling tiles$3,283
    Plumbing fixtures (sinks, toilets, faucets, etc.)$1,360
    Built-in dishwasher or garbage disposal$570
    Windows or doors$3,442
    Water heater$976
    Roofing$7,674
    Bathroom remodels$6,362
    Landscaping or sprinkler system$2,497
    Central air conditioning$5,113
    Electrical wiring, fuse boxes or breaker switches$1,473

    More people are using HELOCs to finance home improvements

    You can probably pay for small projects (like a new dishwasher) with your savings. But for bigger improvements, you may not have the cash on hand. In that case, a home equity line of credit (HELOC) can give you the cash you need at a low interest rate.

    • Lines of Credit: $5,000 – $150,000
    • Competitive rates: as low as 3.25% APR*

    Also, sometimes you don’t know exactly how much an improvement will cost. But once you have the line of credit, you can use as much or as little as you need.

  • How it works

    How it works

    It takes about 2-4 weeks to get a HELOC. Below is an outline of the process.

    1. You complete an application

    Tell us how big of a line of credit you want and we’ll ask for your personal info, check your credit score, verify your income, etc.

    2. We decide to appraise your home or deny the application

    Within three business days of receiving your application, we decide to either move to the next step and appraise your home or deny the application.

    3. We appraise your home

    Depending on your credit score and LTV, we’ll appraise your home in one of three ways. (See the Frequently Asked Questions to learn about LTV and appraisal methods.)

    4. We make a loan decision

    After reviewing your application and appraising your home, we’ll give you a loan decision.

    5. You get the HELOC

    If you’re approved for the HELOC and accept it, then you can start using the funds for home improvements.

    6. You make payments using our easy online service

    You make a monthly payment on your low-interest HELOC until it’s paid off.

  • FAQs

    Frequently Asked Questions

    One benefit of being an Astera member is getting access to the lowest rates around. Take out a loan to fund that major expense. We process loans in-house, from application to closing — without all the stress.

    We offer various loans and services to match your desires

    Click here, if you’d like to apply for a loan today.

    For our Astera Equity products, the only out of pocket expense for equity is for an appraisal. As a service to our members Astera covers all other closing cost.

    Wouldn't it be nice to stop throwing your money away on rent and start building equity in your own home? Astera offers low-rate home mortgage loans, so you can start calling your own place "home" sooner than later.

    Our stellar loan officers will be there to guide you through every step.

    There are many great features to our Home Mortgage Loans

    • Build equity in your home in Michigan, instead of paying rent to a landlord
    • We offer free quick pre-qualifications for accurate budget shopping
    • Choose from a variety of mortgage loan financing options
    • Local processing ensures fast approvals and efficient processing
    • Personal attentive service from start to closing
    • Talk to an Astera expert lender today to get started

    Visit our Mortgage Web Center and apply now!

    We offer three convenient ways to apply to refinance your home equity loan.

    • Apply Online
    • Apply by Phone
      • Call us today at 800-323-0048 and a Member Service Representative will walk you through the steps to apply over the phone
    • Apply in Person
      • Stop by any of our branches and speak to a Member Service Representative to get help on your application

    Our stellar loan officers will be there to guide you through every step of the process.

    Visit our Mortgage Web Center and apply now!

Use a HELOC to help you make big home improvements

See how much you could qualify to borrow.

Estimate your savings

*APR=Annual Percentage Rate. Rates and term are subject to change without notice. Rates and terms are contingent upon, but not limited to credit history, loan to value, lien position, amount requested, and other risk-based criteria. 2.99% introductory APR available for 12 months after the loan is funded. At the beginning of the thirteenth month, regular rate will go into effect. Minimum monthly payment may change as a result of rate changes. Contact Astera Credit Union for the latest rates.

NMLS Registry Information for Mortgage Loan Originators

 

  • Lisa Posthumus: 1115623
  • Veronica Hosford: 437946
  • Courtney Minor: 538398
  • Kelly Arnold: 1353195
  • Alyshia Coburn: 1595343
  • Jane Woods: 1243638
  • Debi Sackrider: 1585563
  • Trevor Hollis: 1368935
  • Dianna Kern: 644132
  • Ryan Maloney:435856
  • Becky Grieshaber: 413124
  • Danette Winans: 1574512
  • Dinah Magbag: 1734328
  • Shelia Mitchell: 1734327
  • Bonnie Fillwock: 1734326
  • Joan Phillips: 1734325
  • Wanda Alfes: 1734329
  • Courtney Mitchell: 1734284
  • Lisa Morris: 1734324

Mortgage Disclosure