At CEFCU, our Home Equity Loans and
Credit Lines have nothing to hide.
- No annual fees
- Up to 15-year term on Fixed-Rate loans
- No early payment or termination penalties
- No initial advance requirement
- Lower interest rates than personal loans or credit cards
- A potential tax deduction
- Local servicing
|Estimating Your Available Equity|
|Appraised value of your home||$80,000|
|Multiply by .90||x 0.90|
|>Equals 90% of appraised value||$72,000|
|Subtract balance due on your first mortgage||- $30,000|
|Equals approximate amount available from Home Equity Loan/Credit Line||$42,000|
*Closing costs vary by state and locality; CEFCU pays closing costs up to $350 in most cases. In some situations, such as if the property is for sale or used for a bridge loan, you may be required to pay closing costs. Property insurance is required and not included in closing costs. Potential line of credit must be a minimum of $5,000, and can be as high as 90 percent of the appraised value of your home (primary residence). Minimum monthly payment amount for credit line balance is $100. Other rates and terms available. Contact CEFCU for details, including more specific information about third-party fees.