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Home Equity Loan
|Term||Rate %||Points||APR %1||Est. Payment per $1000|
|15 Year Fixed Rate||4.000%||0||4.364%||$7.46|
Home Equity Line of Credit
|Loan-To-Value||Loan Amounts up to2||Index||APR as low as3|
1 Annual Percentage Rates (APR) is calculated based on a loan amount $50,000 for Home Equity loans. For Home Equity Loans Rate is fixed for the term of the loan. Actual rate is based on the loan-to-value and the borrower's credit score at the time of origination. Home Equity Loans in TX available up to 80% LTV Maximum.
2 Credit limit based on your creditworthiness. Please contact the credit union for the minimum and maximum loan amounts for the various Combined Loan-to-Values (CLTVs).
3 Rate shown is based on a Combined Loan-to-Value (CLTV) of 80% or less. Rate will increase based on a CLTV greater than 80%. For Home Equity Lines of Credit the rate is variable and based on the Prime Rate as published in the "Money Rates" section of the Wall Street Journal, plus a margin. The margin is based on loan-to-value and borrower(s) credit score at time of origination. The maximum annual percentage rate in a variable rate plan is 18%.
* Taxes and insurance not included, your actual payment obligation may be higher.
No fees are imposed for opening a Home Equity Line of Credit. If the account is closed within three years of opening, early closure fees will be added to the Account Balance in the amount of $500 for credit lines up to $100,000 and $700 for credit lines above $100,000. Early closure fees are not assessed where prohibited by state law or when the account is closed as part of a Spectrum Credit Union refinance.
Property insurance is required. Flood insurance may be required. Rates, APR, terms and conditions are subject to change without notice.