Home Equity Line of Credit
-
A qualified member can obtain a line of credit up to $187,500. The credit line will be based on available equity using an eighty (80) percent loan-to-value formula. Application fee of $425 must be paid with their application. The credit line has a five (5) year draw period and up to ten (10) year payback.
Raw Land / Non Owner Occupied Rental Property
-
A qualified member can obtain a fixed rate second mortgage up to $187,500. Amount available will be based on the properties equity calculated on an 85% (1st position lien) and 80% (2nd position lien) loan-to-value ratio. Application fee of $425 must be paid with the application. Loan maturities can go up to ten (10) years.
Raw Land / Non Owner Occupied Rental Property
-
A qualified member can obtain a fixed rate second mortgage on either two types of collateral. Amount available will be determined using seventy (70%) percent loan-to-value ratio. Home Equity Line of Credit Loans will not be granted on this type of collateral. Loan maturity will not exceed one hundred twenty (120) months. A 1.50% A.P.R. premium is added to the fixed rate second mortgage rate for this type of loan. Application fee of $425 must be paid with the application.
Click the Calculator to figure out your loan payments.
Click here to view "When Your Home is On the Line" before proceeding to your application for a Home Equity Loan.
Click here to view "Home Equity Early Disclosure" before proceeding to your application for a Home Equity Loan.
Click here to fill out a Home Equity Loan application online.
Click here for an application (Adobe PDF File) that you can print at home or stop in the Credit Union and pick one up!
Don't have Adobe Acrobat? Click here to get Acrobat free and download all our forms with ease.
or
Membership Allows You Access to 32,000+ Surcharge-Free ATM's. Nationwide!
