|
HOME EQUITY LOANS
Home Equity Loans are available at low interest rates and feature the additional benefit of tax-deductible interest*, to save you even more money over the length of the loan. Once approved, you can easily access your Home Equity Line of Credit, 24 hours a day, 7 days a week, through A+CALLŪ, our telephone banking system.
Apply now and discover how simple it is to put the equity in your home to work for you! Whether you are remodeling, financing a college education, or planning the vacation of a lifetime, you can finance it with help from your home and Flint Area School Employees Credit Union.
HOME EQUITY LOAN INTEREST RATES
|
| Type of Loan |
Annual Percentage Rate** |
Maximum Length of Loan in Months |
Estimated Monthly Payments per $1,000 Borrowed |
| Real Estate Equity - 75% LTV |
6.50% |
180 |
$8.72 |
| Real Estate Equity - 80% LTV |
5.25% |
36 |
$30.08 |
| Real Estate Equity - 80% LTV |
5.50% |
60 |
$19.10 |
| Real Estate Equity - 80% LTV |
6.00% |
84 |
$14.61 |
| Real Estate Equity - 80% LTV |
6.25% |
120 |
$11.23 |
| Real Estate Equity - 90% LTV |
6.50% |
36 |
$30.64 |
| Real Estate Equity - 90% LTV |
6.75% |
60 |
$19.68 |
| Real Estate Equity - 90% LTV |
7.00% |
84 |
$15.09 |
| Real Estate Equity - 90% LTV |
7.50% |
120 |
$11.87 |
| Real Estate Equity - 95% LTV |
7.50% |
36 |
$31.11 |
| Real Estate Equity - 95% LTV |
7.75% |
60 |
$20.16 |
| Real Estate Equity - 95% LTV |
8.00% |
84 |
$15.59 |
| Real Estate Equity - 95% LTV |
8.50% |
120 |
$12.40 |
|
|
|
|
| Home Equity Line of Credit (variable rate) |
5.00% Variable Rate Changes Quarterly *** |
|
|
| Home Equity Interest Only Line of Credit (variable rate) |
5.50% Variable Rate Changes Quarterly *** |
|
|
|
|
|
|
| *Please consult your tax/financial advisor with regard to your personal situation. |
|
|
|
| **All loans are subject to credit approval. Rate is based on credit history; rate shown is offered to members with good credit. The rate may be higher for members with less satisfactory credit. Please contact our Loan Department for additional information. Annual Percentage Rate (APR) is effective as of July 1, 2008 and subject to change without notice. |
|
|
|
| *** The Annual Percentage Rate (APR) may change up to four times a year. Changes will be made on the first day of January, April, July and October. The APR is the Prime Lending Rate in effect three business days prior to the first day of each calendar quarter. However, the APR shall never le less than 4 percent or higher than 18 percent. The "Prime Lending Rate" means the average prime rate of major U.S. money center commercial banks as published in the Wall Street Journal (or alternate publication, if required). The APR may increase or decrease if the Prime Lending Rate increases or decreases. An increase may cause you to have to make more payments on your loan but the amount of the payments will not change. The minimum monthly payment amount is $2.00 for each $100.00 borrowed, but the monthly payment will never be less than $100.00. |
|
|
|
|
|
  |
|
