Home Equity Loan
Selfreliance FCU Home Equity loans feature:
- No points
- No application Fee
- Interest Rate is tied to Prime Lending Rate and may vary and may have an added margin - check current rates
- 10 year term
You may withdraw funds from your Home Equity Loan at any time, up to your approved limit. Funds are available over the length of the loan. You have the option of paying off the balance or redrawing up to your limit as often as you wish.
Selfreliance FCU never charges a pre-payment penalty, and interest is due only on the outstanding balance.
Certain restrictions and requirements may apply, please contact your nearest Selfreliance FCU location for further details.
The Annual Percentage Rate (APR) will be based on the Prime Rate plus a margin of 0.25%, with a maximum APR of 18.0%. The Prime Rate is the highest Prime Rate published in the Money Rates Table of the Wall Street Journal on the last business day of each quarter. Prime is a variable rate; as it changes, the APR on your account will also change. Credit is subject to approval. A HELOC is secured by a first or second mortgage lien on your home, which must be a one-to-four family residential real estate building. This type of credit is not available for modular homes, manufactured homes or cooperatives. The minimum line of credit amount is $10,000 and the maximum amount is $200,000. The maximum combined LTV is 80%. Flood and/or property hazard insurance may be required. Other restrictions may apply. The current Prime Rate is 5.50% resulting in a current APR of 5.75%. All Selfreliance FCU loan programs, rates, terms and conditions are subject to change at any time without notice.