Home Equity Loans
Home Equity Loans
Many members already have a great rate on their 1st Mortgage but may need money to put on a new roof, remodel, or to consolidate debt. Home Equity Loans are perfect for this!
Home Equity Line of Credit (HELOC)
A Home Equity Line of Credit allows you to borrow against the equity in your home. The rate is variable based on the prime rate. This line of credit can be accessed as you need it and you can pay the loan off as quickly as you’d like or you can keep your payments as low as “interest only.”
Fixed-Rate Second Mortgage
Keep the great rate on your 1st mortgages, but get the cash you need out of your home by using the equity you’ve built up over the years.
Home Equity/2nd Mortgage Rates
| Home Equity Loans (5/10/15 yrs) | 80% LTV | 90% LTV |
|---|---|---|
| 730+ | 6.99% / 7.49% / 7.99% | 7.99% / 8.49% / 8.99% |
| 700+ | 7.49% / 7.99% / 8.49% | 8.49% / 8.99% / 9.49% |
| 670+ | 7.99% / 8.49% / 8.99% | 8.99% / 9.49% / 9.99% |
| 640+ | 8.99% / 9.49% / 9.99% | 9.99% / 10.49% / 10.99% |
| 600+ | 10.99% / 11.49% / 11.99% | 11.99% / 12.49% / 12.99% |
| 550+ | 13.99% / 14.49% / 14.99% | 14.99% / NA / NA |
| 549 or less | 15.99% / 16.49% / 16.99% | NA / NA / NA |
| ----------------- | ----------------- | ----------------- |
| Home Equity Line | to 80% LTV | to 90% LTV |
| 730+ | 8.50% | 9.50% |
| 700+ | 8.50% | 9.50% |
| 670+ | 9.00% | 10.00% |
| 640+ | 9.50% | 10.50% |
| 600+ | 10.50% | NA |
| 550+ | 11.50% | NA |
| 549 or less | 12.50% | NA |
Rates current as of:
* Annual Percentage Rate. Rates and terms are based on creditworthiness, loan-to-value (LTV), occupancy, loan purpose and loan amount, so your rate and terms may differ. Up to 90% LTV financing is available on single family detached residences, and it is based on credit worthiness. All rates and terms quoted apply to properties that are occupied by the borrower.
Home Equity Lines – Fees, generally ranging from $50 to $1000 may be incurred depending on loan amount and loan-to-value (LTV). Maximum APR on variable rate is 18%.
Other rates & terms available, call for details.