First and Second Lien HELOCs

Smart Financing Options to Fit Your Financial Goals.

Whether you’re looking to keep your current low-rate mortgage or replace it with a flexible credit option, Quorum offers smart ways to tap into your home’s equity. Choose a solution that aligns with your goals—maintain your existing mortgage and access additional funds when you need them, or convert your mortgage into a single line of credit that gives you ongoing borrowing power. Get the flexibility, control, and convenience to use your equity for home improvements, major purchases, or unexpected expenses—all with competitive rates and manageable payments.
Apply for a HELOC

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Child Page Heros Helocs 464 X 280 Px 464 X 464 Px 4 Second Lien HELOC Dollar Dollar Bills

Two Flexible Options, One Smart Way to Borrow.

Product Firstlien 1

First Lien HELOC

Quorum's First Lien HELOC replaces your existing mortgage, offering a revolving line of credit secured by your home, with a loan-to-value (LTV) ration up to 80%.

Apply Now
Product Secondlien

Second Lien HELOC

Quorum's Second Lien HELOC works alongside your existing mortgage, allowing you to borrow additional funds up to a combined loan-to-value ratio of 95%.

Apply Now

Why Choose a HELOC?

Learn how Quorum can guarantee that your financial commitments come with no unexpected surprises. Here are the key benefits of our First Lien and Second Lien HELOCs:

 

Second Lien HELOC

Rates as low as 6.875% APR1

Secure a rate that offers you peace of mind and financial stability for the future.
Repayment Period For Low Payments

10-Year Draw & 20-Year Repayment1

Access funds whenever needed, allowing you to manage your budget with a little more ease. 
Max Loan Amount

$750K Maximum Loan Amount

Access funds with flexible loan solutions tailored to your goals to help you move forward with confidence.
Fico

640 Minimum FICO Score

Our commonsense approach to underwriting makes financing more attainable even if your credit score isn’t perfect.
Cltv

Competitive LTV and CLTV Ratios

Borrow up to 80% LTV with a First Lien HELOC, or up to 95% CLTV with a Second Lien HELOC.
No Fees

No Mortgage Refinancing or PMI

Preserve your existing mortgage terms and keep costs down by avoiding the additional expense of PMI.

Apply for a HELOC Today.

Our online loan application is seamless and easy. And, whenever you need assistance, our team is ready to help you explore your options.
Apply for a HELOC

Get Your HELOC Funds Faster

When you open a QClassic or QBoost checking account with any of our HELOC products, you’ll unlock up to $2,5002 of your HELOC funds instantly ready to spend using your Debit Mastercard, Zelle, or electronic transfers. Here’s what you’ll need to do:

STEP 1: Log in to your account. If you’re not yet enrolled in online banking, you’ll need to do this first.

STEP 2: Select Checking / Savings under Open and select QClassic or QBoost.

STEP 3: Fill out the required fields. You’ll have the opportunity to choose your preferences.

STEP 4: Hit submit after you’ve reviewed your selections.

Be sure to complete steps above before you close you can get instant access to $2,500 of your HELOC funds.
Open a Checking Account
An older man holds up a Quorum Debit Card.
Credit Cards 8

How to Apply for a HELOC

Apply.

Use our easy, online application to apply for a First Lien or Second Lien HELOC and upload required documents in one secure platform.

Close.

As soon as we’ve processed your application and have all your paperwork in order, we’ll set up your closing appointment

Access.

Shortly after closing, your funds will be available to use however you choose! You can access your cash online or via the Home Equity Loan checks you’ll receive in the mail.

Apply Now

What do I need to apply?

Quorum Membership: As with all credit unions, a membership is required to take advantage of our products and services. Our membership application will be a part of your loan application.

Personal Identification: Any government-issued ID, such as a driver’s license, state-issued ID, or passport to prove your identity.

Proof of Income: Documentation showing gross income, such as:

  • Recent pay stubs
  • W-2 forms
  • Bank statements
  • Tax returns
  • Bank or credit union account numbers
See More FAQs

Log in.

Log in to your account via online banking.

Click.

Under Open, click “Home Equity.”

Choose.

Follow the prompts to select the product you wish to open and complete the application.

What do I need to apply?

Personal Identification: Any government-issued ID, such as a driver’s license, state-issued ID, or passport to prove your identity.

Proof of Income: Documentation showing gross income, such as:

  • Recent pay stubs
  • W-2 forms
  • Bank statements
  • Tax returns
  • Bank or credit union account numbers
    See More FAQs

    What’s a Good Interest Rate on a HELOC?

    Compare Quorum’s HELOC rates with the average interest rate! According to Bankrate, the average HELOC rate is 7.94% APR1, as of 4/23/25.
    Orange toy house sitting over coin stacks, illustrating the concept of increasing home value.

    Open a Quorum HELOC Today.

    Ready to take the first step in financing your goals with a HELOC from Quorum? Apply online to get started.
    Apply for a HELOC

    Other Helpful Resources:

    Ltv Ratio

    LTV and CLTV: What Are They and What’s the Difference?

    Learn all about loan-to-value ratios whether you’re applying for a mortgage or a HELOC.
    Learn More
    Home Equity Icon 3

    HELOCs: Know the Lingo

    Learn common terms and definitions associated with home equity lines of credit (HELOCs).
    Learn More
    HELOC vs. Home Equity Loan

    HELOC vs. Home Equity Loan: Which is Best for You?

    Explore different ways to borrow money against your home that work best for you.
    Learn More

    Why Choose Quorum?

    Bankrate 2025 Top Credit Union: Quorum Federal CreditUnion

    One of the Best Credit Unions of 2025

    Bankrate
    The Best Savings Account of 2025 is Quorum's HighQ Savings - Bankrate

    Best Savings Account of 2025

    Bankrate
    2025 Yahoo Finance Best Credit Union Logo Rgb

    Best Credit Unions, 2025

    Yahoo! Finance
    2025 Cnet Us Cnet Best Of Logo 1

    The Best Credit Unions

    CNET
    Bi Full

    Best Credit Unions

    Business Insider
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    Best Credit Union of 2025 for High-Yield Savings

    Buy Side from WSJ
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    Best HELOC for Investors

    Bankrate
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    Best Online Banks

    MarketWatch Guides
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    Best Credit Union Savings Accounts

    MarketWatch Guides
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    Best Overall Credit Union Savings Accounts

    CNBC

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    Best Checking Account for Vast Network

    CNBC

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    2023 Diamond Award Financial Education

    CUNA
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    Highly recommend.

    I applied for a HELOC. I am a mortgage professional and I have worked with many lenders over the years. Quorum was very efficient, sensible and a pleasure to work with. I highly recommend them.

    Dan F.

    Very competitive HELOC.

    Vinny and Jacqueline assisted my husband and I with a HELOC recently. My husband and I both work in the mortgage business, so needless to say, we are picky about the process, because we know how it should be! The process with them was flawless, the tech platform was user-friendly, communication was stellar and they offer a very competitive HELOC. We highly recommend them!

    Jennifer A.

    Straightforward and efficient.

    Just completed a HELOC with QFCU. Process was very straightforward and efficient. Christina and Nancy were excellent. Portal process for uploading and reviewing documents was a breeze.

    Steven G.

    Member Reviews

    CLOSE

    You can’t find a better credit union.

    Just had an amazing experience with a Quorum customer representative. You can’t find a better credit union. Thank you for all your help. 😊😊👏🏽👏🏽👏🏽

    E.S.

    I love banking at QFCU.

    The Quorum FCU representatives are very thorough. I love banking at QFCU.

    Tamara L.

    Above excellent customer service!

    Love Quorum! Representative was helpful and resolved several issues in the one call! Above excellent customer service (and I don't say that often)!

    Denise E.

    Needed help replacing a compromised debit card.

    Quorum agent Eddie was very helpful with the need I had replacing a compromised debit card. Positive interaction. I have been with Quorum for a very long time.

    John C.

    Pays top interest rates on savings accounts.

    Great bank. Pays top interest rates on savings accounts. Good customer service. No unreasonable fees.

    Karen K.

    I am a very satisfied customer of Quorum for 24+ years.

    I submitted a bank wire the wrong way. Savannah, Member Service Team, contacted me and helped me patiently to re-submit it correctly and avoiding at the same time to pay the transfer fee twice. She is very kind and professional. I am a very satisfied customer with Quorum FCU for 24+ years. Savannah has just reinforced my sentiment towards them. Thank you again, Savannah!

    Lise

    Put me at ease.

    Eddie was very professional and i appreciating the follow up call on my recent wire I was sending. This extra step of confirmation put me at ease to make sure that my money would not be stolen through wire fraud. Thank you.

    Shelly S.

    I love their attention to detail!

    I called Quorum this evening with an issue involving my debit card, and they were quick to assist me and inform me how to correct the issue. I've banked with Quorum for at least 35 years (and possibly as long as 37). I love their attention to details!

    Denise R.

    I will remain a loyal member due in part to the amazing customer support.

    My CS Agent Shelly was very professional, polite and knowledgeable. Her patience as we walked through how to resolve my issue was stellar. I have been a long-time customer of Quorum Federal Credit Union and I will remain a loyal member due in part to the amazing customer support through the years. She is another great example! Keep up the great work, Shelly.

    Rayshon D.

    What I needed to be done was completed in under 10 minutes.

    I phoned in to specify what term and APY I wanted for 2 IRA Term accounts that were about to mature. The Credit Union representative was courteous, knowledgeable and helpful. What I needed to be done was completed in under 10 minutes, and I am satisfied.

    John B.

    Have always gotten excellent service.

    I've been banking with this credit union for years, and have always gotten excellent service. Thank you for helping me with an error on my part and reversing fees for this longstanding customer!

    Barrianne B.

    Super helpful and friendly.

    The customer service and member services department are super helpful and friendly. Eddie helped me today: great personality and very patient.

    Suzie

    Been there over 20 years.

    Been there over twenty years. Good FCU.

    Vanessa K.

    Exceptional customer service experience!

    I was assisted by a very knowledgeable representative named Bonnie. Bonnie answered questions I had not asked yet and informed me of actions that needed to be taken to implement a necessary life changing situation. If Bonnie could be cloned, it would be an exceptional customer service experience!

    Idella H.

    Fraud on my debit card.

    The customer service person was very helpful and patient with me and did a wonderful job of guiding me with steps that needed to be taken to submit a dispute and closing my debit card. Thanks for such a wonderful experience with my issues ❤️.

    Virginia

    Very good service.

    Very good service.

    Bernard D.

    Quick and friendly.

    My husband and I have been with Quorum since the days of it being the Kraft Employee Credit Union. We have always had quick and friendly responses to all of our requests/issues. Through multiple life events, multiple moves, multiple loans, we have always maintained our accounts there and plan to for the future.

    Theresa P.

    Very helpful and understanding.

    It was nice talking with Eddy; he was very helpful and understanding with my needs, and it was very easy to fix what I needed; thank you, Quorum!

    Margarita G.

    Helped me through a tricky HELOC process.

    Eli Shereshovech was great. Helped me through a tricky HELOC process. You could tell he really went the extra mile to prioritize the customer.

    Chris C.

    Very pleasant and professional.

    Very pleasant and professional; answered all questions.

    Jo P.

    Excellent service.

    Excellent service.

    Abraham C.

    Your support was excellent.

    I had a problem with my debit card; your support was excellent.

    Eduardo L.

    I’ve been a member since 1978.

    I’ve been a member since 1978. Saving and checking, term accounts, car loans and mortgages all with great rates. Couldn’t be happier. Great service with a knowledgeable customer service team.

    Tim R.

    Just Amazing People.

    Just a couple of days ago I called Quorum and the same gentleman, Kevin, helped me out with a little issue and took care of everything; just amazing people at this credit union. Thank you Kevin for your help!

    Kin F.

    Very patient and kind.

    Very patient and kind with their help.

    Yvelisse B.

    A pleasure to get on the phone.

    Ebony is an excellent and very professional person. It is a pleasure to get her on the phone.

    Janene T.

    Member Service Team was really helpful in assisting me!

    We are back from a cruise tour in the U.S. and Canada. During our vacation, my debit card was blocked (nearly a financial disaster). I called Quorum and got great help, first from Kevin B. After telling him my story, he transferred me to the Fraud Department. Unfortunately, they could not help, as I had one important piece of personal information that was not available. I called Quorum again and got Ebony. Ebony did a super job; she called the Fraud Department and convinced them I'm not a debit card fraudster. Thank you very much for your time and tremendous help, Ebony. Last, but not least, a thank you to Savannah. Coming back from Canada to the U.S., I emailed Quorum asking for support for another debit card alert and Savannah took care of that. Overall, the Member Service Team was really helpful in assisting me!

    Klaus W

    Easy to fill out application!

    Straight to the point, easy to fill out application, and well put together!

    Melissa F.

    Professional and knowledgeable.

    Professional, knowledgeable, sympathetic; a quick and enjoyable experience calling Quorum today!

    James B.

    Awesome experience.

    Awesome experience working with Brianna and the team! Extremely helpful and went above and beyond.

    Tysen C.

    For security, I give them an A+.

    I have been with this Credit Union for 12 or 13 years. For security, I give them an A+. Customer service is very helpful. Happy customer 😁

    Rose E.

    Absolutely great customer service.

    Very helpful. Absolutely great customer service. Made my day.

    Rehan H.

    Best and most helpful in all my 15+ years with Quorum.

    Today’s assistance was the best and most helpful in all my 15+ years with Quorum Federal Credit Union.

    Carrie H.

    Very friendly and extremely professional.

    I just had a phone call to Quorum, talking to Bonnie. She helped me to activate my new debit card which I could not do myself from Germany. Bonnie was very friendly and extremely professional to get my request done. Now the card is activated for the next vacation in the US :-) Thank you very much, Bonnie.

    Klaus W.

    Very polite and professional.

    The representative that I had the pleasure to talk with today took her time; she used safety measures to make sure I was who I said I was; very polite and professional.

    Sheila L.E.

    Very helpful and professional.

    Very helpful and professional.

    Ibrahim

    I’ve been a member for almost 30 years.

    I’ve been a member for almost 30 years. I stay because the customer service professionals are excellent!

    Ross W.

    Great customer service.

    Great customer service.

    Barbara R.

    Excellent customer service.

    Excellent customer service. Eddie was excellent.

    Louis A.

    Glad we found Quorum.

    Quorum is great. We feel so much more secure with a federal credit union than a commercial bank. Great staff and customer service is always patient and helpful. Rates on interest-bearing accounts are great, too. Website is user-friendly. Info is clear and precise. Glad we found Quorum.

    Kathy W.

    I’ve been a member for over 35 years.

    I've been a member of Quorum Federal Credit union for over 35 years. I highly recommend to anyone that would like low banking fees, a great banking experience and fantastic customer service.

    Laurie D.

    Excellent problem solvers.

    I've been banking with Quorum for years. They're always very pleasant to interact with and they're excellent problem solvers. Thank you, Quorum. You're the best.

    NYCBlkM4WhtM

    Lifetime approval from me!

    I have had checking and savings accounts for years with Quorum Federal Credit Union and have never had any problems. Therefore, when I needed a mortgage loan, I turned to Quorum. Their staff was a joy to work with. Very professional, informative and attentive to my every question, concern throughout the entire process. Quorum gets my lifetime customer approval from me.

    Ruby S.

    Very good service and rates.

    Very good service and rates.

    Stan L.

    This Credit Union quickly became my bank!

    This credit union quickly became my bank! What started with a low-interest first mortgage refinance has turned into a first mortgage, two credit cards, a high yield savings account, fee free checking account and a checking reserve account. I pay all my bills via the online bill payment and even send physical checks from my online checking account to the landscaper and others. Member support is beyond expectation and the mobile app is robust and user friendly. Great work Quorum!

    mhudson

    Great rates.

    I've been a member of Quorum for many years. They almost always have great deposit rates and the app is super easy too!

    Tbe

    Friendly, helpful and knowledgeable representatives.

    New customer. Friendly, helpful and knowledgeable representatives. They answered ALL my questions and stayed on the phone with me through the entire setup and deposit process. I hope the exceptional customer service continues. Based on my experience, so far, I would definitely recommend.

    Cynthia M.

    Excellence, patience and care.

    Shelly's service was of excellence and she walked me through the entire claims process with ease and calmness. I greatly appreciate her customer service skills of excellence, patience and care. Thank you.

    Janice J.

    OUTSTANDING!

    Shelly was nothing short of OUTSTANDING! Big thank you to her and her follow through.

    Bob S.

    Personable staff who are motivated to bring solutions.

    Brand new customer. So far so good. They were able to answer all questions promptly and accurately. Will see how follow-through goes but no complaints, which is a good thing! Personable staff who are motivated to bring solutions.

    Vicki P

    Highly recommend.

    Amazing experience with this company for the past two years. I highly recommend.

    Jorgefelix S.

    Extremely helpful and knowledgeable.

    The Quorum representative was extremely helpful and knowledgeable. I appreciate all she did to resolve my situation.

    Carl W.

    I so appreciate their time and hard work.

    I want to thank Adisa, Debra, Eddie and Ellie for the excellent customer service that they gave me during the past week and a half. It made a difficult experience easier to deal with. The patience, understanding and kindness that they showed me was outstanding. They should be commended on doing their job with such expertise and professionalism. I so appreciate their time and hard work.

    Mary F.

    They do NOT disappoint.

    Quorum has been my primary bank for over 5 years where they do NOT disappoint. Not only do they offer the best interest rates with the HighQ Savings and term CDs, they are prompt to provide answers to any questions that you may have regarding transactions with a detailed explanation of both benefits and minimum balances as well as other options to avoid fees. I encourage others to use these benefits and services offered.

    Sonja M.

    Friendly, knowledgeable, efficient.

    Service member was friendly, knowledgeable, efficient and solved my problem quickly.

    Marianne M.

    Love my Credit Union.

    Great experience today! We even got disconnected and she called me back after my issue was solved! Love my Credit Union.

    Allison W.

    Excellent customer service.

    Excellent customer service. Very kind, courteous, pleasant and patient!

    Vince D.

    Quorum is the BOMB!

    Quorum Federal Credit Union is the BOMB! Best customer service, helpful & assists with any concerns. I've banked at conventional "brick mortar" banks for 50 years. The extra benefits, better rates and customer service are by far SUPERIOR to any bank anywhere. Look them up, compare as I did then sign up. They are truly the real deal.

    Gary H.

    Just a wonderful credit union.

    Just a wonderful credit union. Very knowledgeable people with kindness and professionalism. I’m an older gentleman, you can always call and speak with a human voice, it doesn’t have to be done on the computer. It’s a wonderful organization. If you’re looking for a credit union that offers great CD rates, great customer service, and most of all is very professional, I would recommend them to anyone that is looking for those qualities and some of the highest CD rates in the country. Quorum Federal Credit Union is all five star - first class, in my opinion.

    Kin F.

    Great experience being a member.

    Quorum is a great credit union. The staff are always so helpful, friendly, and very patient. Great experience being a member.

    Carla F.

    Polite, professional, helpful.

    Polite, professional, helpful. What customer service should be.

    Penny W.

    A safe place to put your money.

    This is a safe place to put your money. They have very proactive fraud prevention systems that I am impressed with. Recently, I moved a large amount of money that is going towards the purchase of a car and my account not only required a code, but I received a phone call within a half hour of my transaction from one of their professionals, Savannah. She politely quizzed me, and from every angle may I say, to establish that it was indeed me who was working within my account. The savings and CD rates are great also and, their website works like clockwork. Thank you, Quorum, for being the best!

    LS B.

    CD and high-yield savings rates are excellent.

    CD and high-yield savings rates are excellent. Decent service for an online only bank.

    Celtics

    Refreshing.

    I was amazed at the simplicity and speed at which things were handled today. Not something you see every day in business anymore. So refreshing.

    Livin Curiously

    Knowledgeable and friendly.

    Bonnie was both knowledgeable and friendly. My issue was corrected immediately.

    Catherine C.

    Very helpful and attentive.

    I have been a member of Quorum for many years. They have always been helpful and very attentive. I highly recommend Quorum for financial business.

    Herminia M.

    Our mortgage was a breeze!

    Extremely professional team, our mortgage was a breeze with all the support from Mirella and Brandi. Highly recommended!

    Erika V.

    Tremendously patient and helpful.

    Quorum customer service was tremendously patient and helpful today. I'd phoned with two problems, which were successfully addressed with a combination of patience and professionalism.

    Richard B.

    Love everything about them.

    Have been a member for 15 years and love everything about them: have a HighQ account, QClassic checking and a mortgage with them, too.

    Sharon C.

    Go with a credit union-and this is a good one.

    Really nice group here; they actually work with you, much like a community bank. They are also fast and efficient.If you are tired of being gouged by the Big and Ugly banks, you should go with a credit union--and this is a good one.

    Heidi K.

    Have been a faithful and delighted customer.

    I joined Quorum in 1998 and have been a faithful, and delighted customer since. Any issue I have experienced has always been handled with respect, knowledge and follow-through. Can't give them enough high praise. Today I was contacted by Quorum so they could personally update me on a specific change in their policy that may affect me. What other company takes the time and consideration to do that? I don't know of any other. Adisa was the Quorum representative who contacted me. Her approachability and the fact that she consistently asked if I was comfortable in giving answers to the requests for information from me made me feel safe and comfortable. Any business who employs someone of Adisa's caliber is worthy of all my banking business! Thank you, Quorum... you guys really are The Best!

    Kathy C

    Always friendly and courteous.

    Always friendly and courteous. Great job by the Quorum team. Great to do business with them.

    Bill J.

    Simply just wonderful.

    Today and yesterday's agents were simply just wonderful. I say this because it is a hit or miss with agents. Previous years I've always had very nice agents. Meaning, not that they knew everything, but more so of the care and kindness they shared. That what counts as service for me and what is most important. Out of the several calls I had to make within the last few days, like I said, today's and yesterday's agents were very kind and knew their job well. I am most grateful. I wanted to give credit where credit is do. Thank you, you have put my mind at ease.

    Tery A.

    Extremely efficient.

    Bonnie at Member Services Quorum Federal Union was exceptional! Extremely efficient and explained processes very well. Highly recommend her!

    Kip K.

    Highly recommend Quorum for your HELOC needs!

    Eli Shereshovech and his team were amazing. We were able to close my HELOC very quickly and I was kept up to date the entire way through. I highly recommend Quorum for your HELOC needs! :)

    Monica S.

    Wonderful experience.

    I had a wonderful experience working with QFCU to get a HELOC. The team working on our behalf included Elizabeth Ruggiero, Mirella Prestia, and Christina Moore and each and every one of them were a joy to work with. They provided prompt responses to our questions, step by step instructions, and showed great attention to detail throughout the process. I would highly recommend their services!

    Arden M

    Thank you.

    Brandi, thank you for your assistance with getting the HELOC done!

    Eun Suk L.

    Communicative, patient and provided all the information we needed.

    We were lucky to get in touch with Vanessa, who helped us out during a HELOC application. She was very communicative, patient and provided all the information we needed, on time. Thank you, Vanessa!

    Diego and Laura

    10/10!

    Eli Sheresovech and his team at Quorum were outstanding in our first interaction. The HELOC process was simple, easy, fast and ahead of time! 10/10!

    James O.

    Very attentive.

    Eli, Daniel's & Nancy were very attentive with their responses. The process for my Heloc was quick and painless. I'm very pleased.

    Brianne T.

    Very competitive HELOC.

    Vinny and Jacqueline assisted my husband and I with a HELOC recently. My husband and I both work in the mortgage business, so needless to say, we are picky about the process, because we know how it should be! The process with them was flawless, the tech platform was user friendly, communication was stellar and they offer a very competitive HELOC. We highly recommend them!

    Jennifer A.

    A very good experience.

    Worked with Vincent and Yesenia for my HELOC application. They were very responsive and clear about everything from the beginning. When the application ran into a few issues, they went above and beyond to make sure that I had all the exceptions and approvals in place for a smooth release of funds well in time. Overall, it was a very good experience working with them and Quorum. Thanks.

    Nikhil B.

    Very straightforward and efficient.

    Just completed a HELOC with QFCU. Process was very straightforward and efficient. Christina and Nancy were excellent. Portal process for uploading and reviewing documents was a breeze.

    Steven G.

    Stellar communication and attention to detail.

    Quorum Mortgage has clearly delivered an experience that exceeded even the highest standards of service in the industry! It's amazing when everyone works together seamlessly, especially during such a critical process like a mortgage. Props to Lorena, Bryce, Brian, and the rest of the Quorum team for not only closing the transaction on time, but doing so with stellar communication and attention to detail.

    David C.

    We love Quorum!

    My wife and I just closed on a mortgage with Quorum (my first and her second time using Quorum!), and we couldn’t have been happier or more satisfied with the entire process. From a great rate, to an easy online application, to incredible service and communication throughout (have to personally thank Mirella, Brandi, Kathy and the rest of the Quorum Lending team for making the process so easy and stress-free), we were 100 percent satisfied with the entire experience. Thank you, Quorum Lending, for always being available to answer emails and questions, and for helping us to close on our home! We love Quorum!

    View all reviews

    Join an online community geared towards helping your financial well-being through top-tier financial tools, competitive rates, and award-winning customer resources. Become a member today and find out why Quorum is consistently selected as one of the top credit unions in the country.

    desk with laptop and cup of coffee

    HELOC FAQs

    What is the difference between a First Lien HELOC and Second Lien HELOC?

    The main difference lies in the order of repayment in the event of default. A First Lien HELOC is the primary loan against your home, meaning the lender has first claim on your property if you default. It’s typically used when there’s no existing mortgage or it’s replacing the original mortgage, often offering lower interest rates due to the reduced risk for lenders.

    A Second Lien HELOC, on the other hand, is a loan taken out in addition to your existing mortgage. Since it’s second in priority, it carries slightly higher interest rates to compensate for the increased risk to the lender. It’s a popular choice for homeowners who want to tap into their home’s equity without refinancing their current mortgage.

    Should I apply for a Home Equity Loan or a HELOC?

    While both loans convert equity into cash, there are differences that make each loan suited to different borrowers. A Fixed-Rate Home Equity Loan is considered a second mortgage. It offers the loan as a one- time lump sum with a fixed interest rate, so the payment remains the same each month. A HELOC a revolving line a credit that offers a specific draw period. During that time, borrowers only pay interest on the amount borrowed. After the draw period, borrowers will begin making payments that include principal and interest.

    Is there a limit to how much I can draw from my HELOC?

    You may request a draw in any any amount up to the available balance on your HELOC.

    Please be aware that it may take up to 4 business days to process HELOC advance requests, and the draw might not immediately reflect in your available balance. If you have made other recent HELOC advance requests, be sure to factor that amount into the new amount you wish to draw, to avoid a possible rejection.

    How can I access funds or request an advance from my HELOC?

    You can request an advance from your HELOC in two ways:

    Online:

    1. Log in to online banking.
    2. Under More, click on “Other Services.”
    3. Click on “Loan and Credit Card Services.”
    4. Select “Request a HELOC Advance,” then follow the prompts to complete the request.

    You will receive an email confirmation shortly after submitting the request. (Please note: advances made in online banking are subject to a hold of 3-4 business days. If you need your funds sooner, please follow the steps above, then contact us at (800) 874-5544, Monday through Friday, 8:30 a.m. – 7:00 p.m. ET, to request the hold be expedited.)

    By Using the HELOC Checks Provided to You:

    HELOC advance checks are ordered automatically during the loan closing process. Your checks are mailed to the address listed on your loan closing documentation and should be received within 10 business days of your loan boarding, which will be after the three day Right of Rescission period has ended. If you have not closed yet, please make sure that your loan processor has the correct mailing information so that your checks are mailed to the requested address.

    Once you receive your checks, you can use them to withdraw money from your HELOC account, use Quorum mobile deposits to deposit funds into your Quorum account, or pay service providers by check.

    Here are some limitations you should be aware of:

    • The minimum advance is $500. The check will be returned if it is written for less than $500.
    • You may write checks up to your available credit limit. Please be aware of your available credit limit, which you can find in online banking. Keep in mind that if closing costs were rolled into your loan transaction, your available credit limit will be reduced by that amount.
    • You may write checks payable to yourself or to others. However, please be sure that the name matches that of the deposit account holder as differences in the name may cause the check to be returned.
    • Be sure that the legal amount (written amount) and the numerical amount match. If they do not, the check may be returned by the processing financial institution, or only the legal (written) amount will be honored.
    • Checks can be deposited through allowable channels as determined by the depositing institution. Please consult the institution at which you are depositing the funds regarding the availability and limitations of mobile deposit, ATM deposit, branch deposit, etc. Also be sure to confirm hold times on funds based on the policy of the institution. In general, larger checks tend to be held for extended time periods, especially if deposited to an international institution.

    How long does it take to process a HELOC advance via check or online?

    The processing times for HELOC advances are as follows:

    Online Requests: Advances made in online banking are subject to a hold of 3-4 business days. If funds are needed sooner, once the advance request has been submitted via online banking, please contact us at (800) 874-5544, Monday through Friday, 8:30 a.m. to 7:00 p.m. ET, to request to have the hold release expedited. 

    Mobile Check Deposits: HELOC checks deposited via mobile deposits will take 3-5 days for funds to be available in your account.

    Mailed Checks: Checks you mailed directly to your service providers will vary based on the delivery time and your service provider’s financial institution. 

    How do I check the status of my HELOC advance request?

    To check the status of your HELOC advance:

    Requests submitted via online banking: The amount of the requested advance will reflect immediately as a deposit in the transaction history of the selected account. However, please note that this amount will not be reflected in the available balance until the request has been processed, which may take up to 4 business days. Should you wish to confirm when the funds will be released, please contact our Member Services Team at (800) 874-5544, Monday – Friday, 8:30 a.m. – 7:00 p.m. ET.

    HELOC Advance Checks: Please contact our Home Equity Loan Servicing Center at (877) 909-2544, Monday – Friday, 8:30 a.m. until midnight, ET, and Saturday, 8:30 a.m. – 5 p.m. ET.

    How do I make extra payments towards the principal on my Home Equity or HELOC?

    To make a principal payment toward your Home Equity Loan or HELOC: 

    1.  to online banking.
    2. Under Accounts on the Dashboard, click on “Second Mortgage.”
    3. Select “Manage My Account” from the menu bar.
    4. Click on the “Payment” tile at the top of the page. You will only be able to select the principal payment option if your current monthly payment has been made.

    Please note that principal payments cannot be processed until your current monthly payment has been made. Once your billed amount has been satisfied and posted (within 2 business days), you may make a principal payment. You will see the principal payment reflected in your account within 2-3 business days after your regular monthly mortgage payment has been made.

    Disclosure

    1First Lien HELOC Disclosure: The Annual Percentage Rate (APR) is as low as 6.875% as of 11/1/2025 and subject to change. The Floor Rate is 4.95%. Maximum APR is 18.00%. The APR is a variable rate and is based on an index (Prime rate as published in The Wall Street Journal) plus a margin.  The margin is determined based on credit history, loan amount and loan-to-value (LTV) ratio. Rate will not increase or decrease more than 2% annually. A home equity line-of-credit is secured by the member’s home and is available only for 1-4 family residential properties and condominiums, excluding co-ops. Minimum line-of-credit amount: $50,000.00. No draw required at closing. No application or termination fees. Appraisal fee varies. No pre-payment penalty. Mortgage tax may apply in some states. This Home Equity Line of Credit is not available in TX. All loans are subject to credit approval. Fees are due at closing and debited from the HELOC (except appraisal fee, if applicable, due at time of application). Additional fees for HELOCs, including all lender fees, origination fees and third-party fees will be passed to the borrower. Click here for the Fee Schedule.

    Second Lien HELOC Disclosure: The Annual Percentage Rate (APR) is as low as 6.875% as of 11/01/2025 and subject to change. The Floor Rate is 4.95%. Maximum APR is 18.00%. The APR is a variable rate, plus or minus a margin, and is based on the Prime rate (index – as published in The Wall Street Journal) plus a margin. The margin is determined based on credit history, loan amount and combined loan-to-value (CLTV) ratio. Rate will not increase or decrease more than 2% annually. A home equity line-of-credit is secured by the member’s home and is available only for 1-4 family residential properties and condominiums, excluding co-ops. Minimum line-of-credit amount: $25,000.00. No draw required at closing. No application, or termination fees; appraisal fee varies. No pre-payment penalty. Mortgage tax may apply in some states. This Home Equity Line of Credit is not available in TX. All loans are subject to credit approval. Fees are due at closing and debited from the HELOC (except appraisal fee, if applicable, due at time of application). Additional fees for HELOCs, including all lender fees, origination fees and third-party fees will be passed to the borrower. Click here for the Fee Schedule.

    2Instant Access and Hold Policy​: When you transfer funds from your Home Equity Line of Credit (HELOC) to your QClassic or QBoost checking account, you may be eligible for instant access to up to $2,500, subject to the following terms:​

    Instant Access: If you select a QBoost or QClassic checking account for your transfer, you will have immediate access to up to $2,500 of the transferred amount.​ Hold on Remaining Funds: Any amount over $2,500 will be subject to a 3-4 business day hold before being available for use. Transfers to Ineligible Accounts: If you transfer funds to a checking or savings account that is not a QBoost or QClassic checking account, the full draw will be subject to a 3-4 business day hold.​