Home equity lines of credit are available in all states except Texas

Home equity lines of credit are available in all states except Texas

Your interest rate will be provided by a loan servicing representative and is determined based on the term selected and/or your fully indexed rate

Certain states may require a closing attorney. State specific fees may apply at closing. Homeowners’ insurance is required. Flood Insurance is required where necessary. Eligible properties include owner-occupied, 1-4 family residences, warrantable condominiums and townhomes. Investment properties, second homes, vacation homes, cooperatives, mobile homes, and purchase money transactions are excluded.

Your Home Equity Line of Credit (HELOC) agreement contains a fixed rate option in you may elect to “lock in” all or a portion of your variable-rate limit or outstanding balance to a fixed Annual Percentage Rate over a set term for up to 3 advances within your available credit line, during the draw period only, with a maximum repayment term of 10 years. When you choose this option, the interest rate you receive for that advance will be fixed until the balance is repaid. Depending on the rate and term chosen, there are minimum advance restrictions. Your fixed interest rate (which does not include costs other than interest) will be determined by the Credit Union at the time you exercise this option. If the lock in is during the introductory period, the interest rate will NOT be determined based on the introductory rate.

Certificates (Including IRA, ESA and Business Certificates): *APY = Annual Percentage Yield. Rates are accurate as of and are subject to change without notice. After the Certificate is opened, you cannot make deposits into the account. Unless otherwise noted, certificates can be opened with a minimum deposit of $500. The APY is based on an assumption that dividends will remain in the account until maturity. Certificates will automatically renew on the maturity date for the same term unless otherwise note. The dividend rate in effect at the time the certificate renews will be applied on the account. The account holder has a ten (10) day grace period to change the term or close the certificate account without penalty. Penalties apply payday loans in Dover for early withdraw and could reduce earnings on the account. If funds are withdrawn before the maturity date, the penalty will equal 90 days’ dividends on your certificate account with a term of one year or less, and a penalty of up to 182 days’ dividends for certificates with a term of more than one year. The penalty calculated as forfeiture of part of dividends that have been or would have been earned on the account. It applies whether or not dividends have been earned. We will impose an early withdrawal penalty of at least seven (7) days’ simple interest if funds are withdrawn within six days of the date of deposit or within six days of the date of the immediately preceding partial withdrawal. We reserve the right to require at least seven (7) days written notice of an intended withdrawal. In other words, if the account has not yet earned enough dividends or if the dividend has already been paid, the penalty will be deducted from the principal. Unless otherwise noted, if a certificate falls below $500, it will be closed. Certificates are available to Affinity members only.

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a 14-Month Promotional Certificates (Including IRA and Business Certificates): Balances of $100,000 or greater earn an APY of 0.65%. Balances between $50,000 and $99, earn and APY of 0.60%, and balances between $2,500 and $49, earn an APY of 0.55%. On the maturity date, the certificate will automatically renew to a 12-month term at the rate in effect for that term at the time of renewal. If the certificate falls below $2,500, it will be closed.

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