Home Equity Line of Credit
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shareIf you’ve ever been to a yoga class, you know how important flexibility can be. The same goes for the equity in your home – if you need easy access to credit but aren’t sure when you’ll need it, then a flexible home equity line of credit could be just what you’re looking for. Our home equity line of credit gives the flexibility to borrow what you need, when you need it, along with the ability to lock in a great fixed rate that will bend over backwards for you whenever you want.
- Variable rates as low as Prime minus 0.50%; with the ability to lock into a low fixed rate for terms up to 15 years*
- No annual fee
- Easy access to funds with checks, or transfer funds using Online Branch
- Borrow up to 90% of your home's equity
- Low closing costs
- Potential for tax-deductible interest
- No prepayment penalties
*Lock in a maximum of five fixed rate amounts at one time. First rate lock is free, $35.00 for each additional.
Apply Now | Check Rates | Calculate
| Home Equity Line of Credit — Up to 80% LTV (Variable/Fixed) | ||||
| Type and Term | APR (as low as)1 | VPR (as low as)2 | Monthly Payment3 | |
| Variable, revolving | 4.00% | Prime - 0.50% | Minimum $50 or 1.25% of the principal balance as of the time of the draw, whichever is greater | |
| Fixed, up to 60 months4 | 3.99% | $18.42 | ||
| Fixed, 61 to 120 months | 5.99% | $11.12 | ||
| Fixed, 121 to 180 months | 6.99% | $9.00 | ||
| (Rates effective 7/22) | ||||
| Closing costs range from $215 to $305, unless an appraisal is required. Appraisal, if required, is an additional charge of typically $385 to $470. Rates are subject to change without notice. |
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Apply Now | Check Rates | Calculate
| Home Equity Line of Credit — Up to 90% LTV (Variable/Fixed) | ||||
| Type and Term | APR (as low as)1 | VPR (as low as)2 | Monthly Payment3 | |
| Variable, revolving | 4.00% | Prime | Minimum $50 or 1.25% of the principal balance as of the time of the draw, whichever is greater | |
| Fixed, up to 60 months4 | 4.99% | $18.88 | ||
| Fixed, 61 to 120 months | 6.99% | $11.62 | ||
| Fixed, 121 to 180 months | 7.99% | $9.58 | ||
| (Rates effective 7/22) | ||||
| Closing costs range from $215 to $305, unless an appraisal is required. Appraisal, if required, is an additional charge of typically $385 to $470. Rates are subject to change without notice. |
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Apply Now | Check Rates | Calculate
Rates are subject to change without notice. The variable APR is based on the prime rate from the Wall Street Journal Midwest Edition effective as of the 25th day of the previous month. The prime rate as of January 25, 2012 was 3.25%. The maximum APR is 15.00% or the maximum permitted by law, whichever is less. The minimum APR is 4.00%. Your rate will be based on your LTV ratio and your creditworthiness. Minimum loan amount is $5,000. Property insurance is required.
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Copyright 2012 © Summit Credit Union All rights reserved. | PO Box 8046, Madison WI 53708-8046 | Toll-free: (800) 236-5560 | Local: (608) 243-5000
- Federally Insured by the NCUA
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