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Morton Lane Federal Credit Union

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Home Equity Line of Credit (HELOC) 

Home Equity Line of Credit Services for Buffalo, NY


A home equity line of credit (HELOC) is a revolving line of credit. The lender determines the maximum amount based upon the equity of your house. When you choose this option, you are free to take out as much money from the line of credit (up to the limit of course) as needed. 

While you are still required to make monthly payments on your home equity line of credit, you will ultimately only pay back what you take out plus interest. 

Family buying a house


Like any home equity loan, a HELOC can be used for anything that you see fit. It's best suited for long-term expenses, such as: 

  • Medical Bills

  • Home Renovations & Remodeling

  • College Tuition 

  • Large Expenses 

  • Debt Consolidation 

  • & More! 

Begin Your Home Equity Loan Process

Click below for an all-in-one starter application.

Apply Now

Rates & Terms

Loan Rates as of 08/01/2019:

Variable Home Equity Loan

  • 30-year maximum term

  • 20-year to draw

  • 5.25% APR (4.00% floor & 7.00% ceiling, WSJ prime rate + 0.00%)

  • 5 year rate lock

Note: House must also be in NYS.

No teaser rates! The rate you see is the rate you get.

* 5-year rate lock from closing date

Family standing in front of their new house

Tips to Apply for Home Equity Loans

Tip #1

All in one application is used to:

  1. Join the Morton Lane FCU and deposit $5 to open an account
  2. Fill out the Loan Starter Application.
  3. Join the Morton Lane Charitable Foundation if you need to be added to a group and donate $10

Tip #2

Federal Credit Unions require that you belong to a group to join our credit union. Click here for a list of all of the groups.

Tip #3

If you do not already belong to one of our groups, choose Morton Lane Charitable Foundation from the drop-down menu and you will be added to that group by donating $10 at the end of the application.