Variable-Rate Home Equity Loan
Let the equity in your home work to your advantage.
A Variable-Rate Home Equity Loan* allows you to finance a large project while you take advantage of our interest rates. Low rates are based on the Prime Rate, plus a margin.
- No closing costs.
- Low rate based on Prime Rate.
- Tax deductible interest (consult with your tax advisor).
- Loans from $7,500.
- Take up to 15 years to repay.
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*Annual Percentage Rate is based on the highest Prime Rate published in The Wall Street Journal 3.25% as of December 17, 2008) plus a margin. The APR will be adjusted twice per year but by no more than 2% at each adjustment. Your rate will be determined by the conditions of your loan. The maximum Annual Percentage Rate that can apply is 15.75%. Minimum home equity loan is $7,500. Home equity loans are secured by a mortgage on your home. Hazard, flood and title insurance, if applicable, are required on your property. Consult with your tax advisor regarding tax deductibility of interest. Should you payoff your loan prior to the third anniversary of the loan, you will repay the credit union closing cost fees. Closing cost fees paid to third parties range from $300 to $1,000.00.
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