We Offer Several Home Equity Loan Types for Mission City Members
Home Equity Loans: 2nd Lien Fixed Rate
| Type | APR | Monthly Payment / $1000.00 |
|---|---|---|
| 10 Year Fixed / 70% CLTV | 7.50% - 9.00% | $11.87 - $12.67 |
| 15 Year Fixed / 80% CLTV | 7.75% - 9.25% | $9.41 - $10.29 |
| Borrow up to $500,000 | ||
Home Equity Lines of Credit (HELOC)
| Term | APR as low as |
|---|---|
| 70% CLTV | 7.00% - 9.00% |
| 80% CTLV | 7.50% - 8.50% |
*APR=Annual percentage rate. Home Equity Lines of Credit (HELOC) are variable-rate loans. Rates are based on the Prime Rate (as published in the Wall Street Journal) plus 0.5%. Maximum cap of 18% APR. All loans subject to credit approval and additional terms and conditions may apply. For full details contact the loan department.
* Guidelines for the 4.99% APR HELOC Special Offer:
4.99% Introductory Annual Percentage Rate (APR) is available on Home Equity Lines of Credit with up to 70% combined loan-to-value (CLTV) or less. The introductory APR will be fixed at 4.99% during the 6-month Introductory Period. After the 6-month Introductory Period, the APR is variable and is based upon an Index (Prime Rate) plus a margin.
The maximum loan amount is $500,000. Loans exceeding $250,000 require a full appraisal and must be paid by the borrower. An estimate of other fees imposed for opening the plan are $500 to $2,500. However, these fees will be waived and/or paid by the Credit Union provided that our security interest in your home is maintained for at least 12 consecutive months from the date the HELOC account is opened. Otherwise, you must reimburse the Credit Union for these waived and/or paid fees.
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