Home Equity Loans
Home Equity Line of Credit (HELOC) Special5.875% FIXED for 3 yearson a 10 Year Interest-Only Loan * Thereafter, the floating rate is tied to the Prime Rate. |
Need HELOC flexibility but afraid of rising rates?
Then Fix the Rate for the First Three Years! -The rate will be Prime thereafter* (See Adjustments below) - Available only when payments are made by an automatic payment method tied to an RCU checking account. - Rates listed are subject to change. This is a limited time offer and not for modifications of existing loans. - No fees Upfront ($750 prepayment penalty for first 3 years) and no annual fee. - 80% CLTV based on AVM availability and minimum credit score 680 (higher rates available for lower credit scores)* - Min Initial Draw for this Special is $40,000 & Min Balance during fixed period is $25,000 (If refinancing an existing RCU loan, above minimums apply above existing loan amount) |
| Equity Plus | A fixed rate 2nd Trust Deed provides for a one-time loan funding, to be repaid over a fixed number of months at a fixed interest rate. A Home Equity Line of Credit (HELOC) is a line of credit that can be accessed via advances over the Draw Period and repaid over the Repayment Period, with a variable rate of interest tied to the Prime Rate as indicated above. Not sure which is better for you? How about both? Talk to us and we will review the options with you so that you can make the decision appropriate for your circumstances. |
* Above $300,000, pricing bumps apply.
Closing Costs are waived if minimum Initial Draw of $25,000 is taken, CLTV<=80%, & loan amount does not exceed $200,000.
To offset RCU-paid fees, an early pre-payment penalty applies for first 3 years of loan. Pre-payment penalty is equal to $750.
APR=Annual Percentage Rate. Closing Costs are waived if minimum Initial Draw of $25,000 is taken.
*Rates listed apply when payments are made by an automatic payment method. Increase 0.25% for loans without an automatic payment method. APRs listed reflect application received with a credit score greater than or equal to 680.
Add 0.50% to APR listed for credit scores between 660 - 679; add 1.00% to APR listed for credit scores 659 or lower.
Credit scores determined by individual Member credit ratings.
Rates and policies are subject to change without notice.
