Home Equity Line of Credit:

A home equity line of credit* is a loan that allows you to borrow  against your homes value in the form of line of credit.

1.75% APR* for 12 months

• NO closing costs**
NO minimum draw.
• Borrow up to 90% of the equity in your home

You can use the equity in your home to:

  • Complete home improvement projects
  • Pay for your child's college education
  • Purchase a new car or boat
  • Consolidate high-interest credit cards

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*APR=Annual Percentage Rate. Rates, terms, and conditions are subject to change and may vary based on creditworthiness, qualifications, and collateral conditions. All loans subject to approval. The 12 month introductory period begins on the loan closing date. After the introductory period the loan reverts to the APR as stated in the HELOC agreement. The APR is sum of the index plus margin. The maximum/minimum APR that can be imposed is 18.000%/3.000%. The minimum monthly payment is equal to the greater of $100 or the amount sufficient to repay the outstanding balance. If the minimum payments are not sufficient to repay the outstanding balance, a single payment (balloon payment) may be required at the maturity date. Minimum Payment Example: If you make only the minimum monthly payment and take no other credit advances it would take 10 years 8 months to pay off a credit advance of $10,000.00 at an APR of 4.750%. During the draw period,you would make 60 payments of $100.00, and during the repayment period you would make 67 payments of $100.00 and one final payment of $55.74. NMLS License #586579. See Credit Union for complete details.

**The Credit Union will not charge any closing costs on its Home Equity loans; it will, however, ask that applicants pay up-front for an appraisal, and any applicant not closing (i.e. funding) a loan will not be entitled to a refund on that appraisal fee.