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*After Introductory Period for Fixed Rate, rate is variable, based on Prime Rate as published in The Wall Street Journal Money Rates Table ("Index") plus 0%. Your rate may be higher depending on your credit score at time of application.
Equity lines are available for owner-occupied single-family, townhomes, condominiums (subject to additional restrictions) and 2-unit properties (1 unit must be owner-occupied). The lowest rates as shown require (a) $25,000 minimum line amount, (b) 75% or lower loan to value (LTV)/combined loan to value (CLTV) ratio, (c) automatic loan payments from a checking account, and (d) a minimum credit score of 760. The floor rate is equal to the Index published at time of loan application. The lifetime maximum variable APR is 16.00%. Equity lines have a 10-year draw period and a 20-year repayment period for a total term of 30 years. Interest only payments during 10-year draw period. Fees to establish an equity line typically range from $680 - $1,185. Equity lines are subject to an Automated Valuation Model including a property drive-by ("AVM") indicating an acceptable confidence score of 80 or higher. Should the AVM indicate an unacceptable confidence score or otherwise be unacceptable to an Underwriter, the member can choose to pay for a full appraisal. Line amounts above $250,000 and/or above 75% LTV/CLTV require a full appraisal instead of an AVM. The fee for a full appraisal typically ranges from $525 - $750. An appraisal may be subject to additional fees for certain property characteristics, including but not limited to, acreage, large home size, waterfront and/or additional amenities. No annual fee or early termination fee. All loans subject to credit approval. Rates and terms subject to change without notice. Maximum line amount is $500,000 and maximum cash in hand is $250,000.