Flexible HELOC's in Colorado

For many homeowners, home equity is one of the most valuable financial tools they have. Home equity is the difference between your home’s value and what you still owe on your mortgage, and it can often be accessed through a Home Equity Loan or a Home Equity Line of Credit, also called a HELOC. (Investopedia, Forbes Advisor)

That conversation matters even more right now because homeowners continue to hold high levels of equity. Recent industry reporting notes that the average mortgaged homeowner held about $295,000 in home equity in late 2025, which helps explain why more people are looking at ways to put that value to work. (Home Equity Gains)

At the same time, many borrowers are looking for a solution that feels flexible without feeling uncertain. A traditional Home Equity Loan offers a lump sum and predictable payments, while a standard HELOC offers revolving access to funds, often with a variable rate. (Investopedia, The Mortgage Reports)

That is where On Tap Credit Union’s Craft Choice HELOC stands apart. On Tap’s product materials explain that members can lock up to five portions of their balance into fixed-rate advances while leaving the rest of the line available for future borrowing. (On Tap Home Equity, On Tap Craft Choice)

That difference matters in real life. A standard HELOC lets borrowers draw, repay, and reuse funds during the draw period, while Craft Choice adds the option to create more predictable payments on borrowed balances over time. (Forbes Advisor, On Tap Home Equity)

Many borrowing needs do not happen all at once. A homeowner may start with one project, then face another expense a few months later, then decide to consolidate debt after that. HELOCs have become more popular again in part because homeowners want access to equity without giving up an existing low-rate first mortgage through a refinance. (Bankrate, Kansas City Fed)

That trend has also been notable in the Rocky Mountain region. The Federal Reserve Bank of Kansas City reported that HELOC use grew after years of decline, with stronger growth in states that saw faster home value appreciation, including Colorado. (Kansas City Fed)

On Tap offers multiple home equity solutions because different borrowing situations call for different structures. Its Home Equity Loan is described as the fixed payment, fixed timeline option with terms from 5 to 20 years, while its standard HELOC is described as the flexible access option for ongoing projects, variable costs, or homeowners who want access to funds over time. (On Tap Home Equity, On Tap Blog)

Craft Choice keeps that flexible structure but adds the ability to lock in fixed-rate advances on used balances, which can make repayment feel more manageable for borrowers who want more control. On Tap also states that Craft Choice includes a 10-year draw period and up to 15 years to repay remaining balances. (On Tap Home Equity, On Tap Craft Choice)

For members ready to explore this option, as of July 10^th, 2026, the Craft Choice HELOC currently features an introductory rate of 4.99% for the first 12 months when at least $10,000 is borrowed at booking. On Tap’s public product materials also highlight no closing costs in most cases on HELOCs during seasonal promotions. (On Tap Home Equity, On Tap Craft Choice)

As with any home-secured borrowing, it is important to borrow carefully and make sure payments fit your financial reality. The CFPB notes that HELOCs are secured by your home, which means missing payments can put that property at risk. (CFPB HELOC Guide, Investopedia)

Frequently Asked Questions