Home Equity
 |
| Current Rates | ||
| Term | APR | |
| Closed End Home Equity | up to 60 mos. | as low as 3.99%* |
| Closed End Home Equity | up to 72 mos. | as low as 7.19%* |
| Closed End Home Equity | up to 180 mos. | as low as 9.39%* |
| Home Equity Line of Credit | as low as 3.99%* |
Get up to 80% of the equity of your home to pay for college tuition; to add a pool; to renovate your home; virtually anything you've ever wanted to do. For fixed purchases, a Home Equity Loan will suit your needs. For those on-going renovation projects or continuing tuition bills, a Home Equity Line of Credit, gives you maximum access and flexibility of spending.
Home Equity Loan
A Home Equity Loan allows the borrower to finance up to 80% of the available equity in their home. This is a loan at a specific term which provides the borrower with a fixed payment.
Purpose: For home improvement, debt consolidation or cash-out
Payment Type: Monthly principal and interest payments
Loan-To-Value: Up to 80% of the equity in your home, less any existing mortgages for refinance or home improvement. 75% for cash out.
Prepayment Penalty: None
Type of Property: Single Family or Condo
Type of Residence: Primary
Type of Lien: First or Second Mortgage
Line of Credit
A Home Equity Line of Credit is a revolving loan which allows a borrower to finance up to 80% of the equity in their home.
Purpose: For Cash, Debt Consolidation, or Home Improvement
Payment Type: Monthly; 1% of Outstanding Balance
Loan-To-Value: Up to 80% of the equity in your home, less any existing mortgages for refinance or home improvement. 75% for cash out.
Prepayment Penalty: None
Type of Property: Single Family or Condo
Type of Residence: Primary
Type of Lien: First or Second Mortgage
Draw Features: 20-Year Term with a 10-Year Draw Availability
Access: Check; Over the Counter; Direct Touch
*Other rates and terms available. Rates are based on your credit score and are subject to change. Home Equity Loan: Minimum Equifax credit score (pulled by credit union) of 640 is required for advertised rate. Home Equity Line of Credit: Minimum Equifax credit score (pulled by credit union) of 680 is required for advertised rate. The promotional rate is good for the first 3 months. After that, the rate is prime plus 0% and is adjusted quarterly with a floor rate of 6.00%.
Equal Housing Opportunity.