Life is a series of unexpected events, good or bad. Our Home Equity Lines of Credit can make sure you’re financially able to deal with anything that comes your way. Whether you’re looking to perform home improvements, take a vacation, plan a wedding or pay off your student loans and other bills, a Home Equity Line of Credit could be the answer. Interest may be tax deductible*
- No Closing Costs1
- Lines start at $20,000
- 10-Year “draw” period, while keeping your monthly payments low2
- Interest Rate is Prime minus 0.25% for the life of the loan3
- Borrow up to 80% combined loan-to-value of Appraised Value, or 50% combined loan-to-value of assessed value
* Consult a tax adviser for more details
1If loan is paid off or refinanced within two years of its original date, member will reimburse the Credit Union all closing/underwriting costs.
2 Your minimum monthly payment is interest only. Take up to 10 years to repay after that.
3 Prime is defined as the Prime Rate as published in the Wall Street Journal as of the last business day of the preceding month. The floor rate of this program is 3.25% and the maximum is 16.00%. The Annual Percentage Rate may vary after the account is opened. Opening a share account with a $5 minimum deposit is required to join the Credit Union