HELOC's - (Home Equity Line of Credit)
[Click Here for Fixed Home Equity Loans]
If you want to borrow money, a HELOC (Home Equity Line of Credit) is a smart solution. It allows you to get money without draining your savings. Our HELOC has become one of our most popular mortgage products because it enables our members to be prepared for expected or unexpected events in their lives. Use your HELOC proceeds for a vacation, home improvements, tuition costs, wedding expenses or simply for a "rainy day" fund. Although at times it may seem that your house is a gigantic money vacuum, your home actually repays your investment. The equity you create with every penny you spend on your house provides a generous cash supply for you to use.
Select the HELOC that works best for you!
| 1 Year Fixed at 5.24% | 3 Years Fixed at 5.99% | 5 Years Fixed at 6.24% | WSJ Prime + 1% |
| Borrow up to 80% of the value of your home. | Borrow up to 80% of the value of your home. | Borrow up to 80% of the value of your home. | Borrow up to 100% of the value of your home. |
| WSJ Prime - 0.5% after fixed period. Floor Rate of 4% | WSJ Prime - 0.5% after fixed period. Floor Rate of 4% | WSJ Prime - 0.5% after fixed period. Floor Rate of 4% |
Floor Rate of 5% |
Rates and conditions subject to change without notice.
Features:
- No Closing Costs*
- Choice of Initial Fixed Term Options
- Lines starting at $20,000
- Maximum loan amount for LTV's over 80% is $250,000.
- 10-Year Draw Period with Interest Only payments* (Min payment $50)
- 15 year payback of principal and interest after draw period
- Borrow up to 100% of the value of your home, minus your first mortgage. (Restrictions may apply)*
- Homeowner's insurance is required.
Additional Information:
*Please contact the credit union for details.Loan Amounts greater than $250,000 require an appraisal (appraisal fee will apply)
Principal Residences only. Not available for purchases.
After initial fixed rate term, rate will adjust to WSJ Prime - 0.5%.
Interest Rate will never fall below the Floor Rate.
APR = Annual Percentage Rate. Rates and conditions are subject to change without notice.
What You Should Know About Home Equity Lines of Credit
After Applying, a member service representative will be in touch to review your loan options.
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