Home Equity
Home Equity Loans
5 to 10 Year Fixed Rate
- 80% loan-to-value financing based on appraised value
- Simple interest
- No prepayment penalty
- $100 Document Preparation Fee for new loans
- Must be primary residence
Home Equity Line of Credit - "HELOC"
5 or 10 Year Draw Period/10 Year Principal and Interest Payback Period
- 80% loan-to-value financing based on appraised value
- Prime interest rate based on Wall Street Journal – Is subject to change monthly
- Interest rate based on credit score
- $100 Document Preparation Fee for new loans
- Must be primary residence
- $20,000 or more credit limit and CU pays most of the closing costs
- Great for unplanned emergencies, school tuition, remodeling, etc.
Vacant Property Loans
10 Year Fixed Rate
- 75% loan-to-value financing based on appraised value
- Simple interest
- No prepayment penalty
- $100 Document Preparation Fee for new loans
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