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5.00 % APR variable Annual Percentage Rate ("APR") in effect as of 6/22/08 for home equity lines of credit with 80% maximum combined loan to value (LTV) on homestead property (prime plus a margin of 0%). For loans up to 90% combined LTV, the rate is equal to 6.00 %. (Prime plus a margin of 1%). The index is the highest bank prime rate published in the FEDERAL RESERVE statistical release H.15 SELECTED INTEREST RATES as of the twenty-third day of the months of March, June, September and December. The APR is subject to change quarterly and may increase or decrease but will not exceed 18.00%. Minimum line to open the account is $5,000.00. Maximum line is $60,000.00. Subject to credit approval and property evaluation. Consult your tax advisor regarding deductibility of interest. Property, flood and/or title insurance, if applicable, are required. There is an annual fee of $25.00. Estimated fees to open the line: $69 - $114. Membership required.
For loans written prior to May 21, 2008:
5.00% APR variable Annual Percentage Rate ("APR") in effect as of 6/16/2008 for home equity lines of credit with 80% maximum combined loan to value (LTV) on homestead property (prime plus a margin of 0%). For loans up to 90% combined LTV, the rate is equal to 6.00 %. (Prime plus a margin of 1%). The index is the highest bank prime rate published in the FEDERAL RESERVE statistical release H.15 SELECTED INTEREST RATES as of the third Monday of the months of March, June, September and December. The APR is subject to change quarterly and may increase or decrease but will not exceed 18.00%. Minimum line to open the account is $5,000.00. Maximum line is $60,000.00. Subject to credit approval and property evaluation. Consult your tax advisor regarding deductibility of interest. Property, flood and/or title insurance, if applicable, are required. There is an annual fee of $25.00. Estimated fees to open the line: $69 - $114. Membership required. There is an Early Account Closing Fee of $200.00 should the account be closed prior to two years from the date of origination for any reason other than the sale of the home, casualty loss, default or refinance with Service Credit Union .
** Member will be responsible for cost of appraisal if tax bill does not support value of home. Members wishing to refinance existing SCU loans must add at least $5000 new money to qualify for the special rate. Rate subject to change without notice. Ends 6/30/08. Membership eligibility required.
Home Equity Loans
Our maximum home equity loan amount is $60,000.00. The maximum term is 15 years. (Available with demand feature closed end loans only). We offer a Home Equity line of Credit (HELOC) also. Call 920-433-1784 for more information.
If you are interested in a home equity loan and would like to determine if you have enough equity in your home to qualify, check out the home equity loan program (this is a worksheet in Adobe Acrobat PDF format. If you do not have Acrobat reader, you can download a copy free).
