Fixed Rate Home Equity Loans*

Rates as of Friday, December 14, 2018

Interest RateAPRPayment per $1,000PaymentsApply
5 Year Fixed Rate Home Equity Loans
3.990%3.990%$18.41Show Payments
10 Year Fixed Rate Home Equity Loans
4.250%4.250%$10.24Show Payments
15 Year Fixed Rate Home Equity Loans
4.500%4.500%$7.65Show Payments
20 Year Fixed Rate Home Equity Loans
4.990%4.990%$6.59Show Payments

*APR= Annual Percentage Rate. The advertised rate includes a 0.25% discount for Automatic Payment from a PNCU Perks Checking Account. Homeowner's insurance is required. Closing costs will not apply (appraisal, courier, and recording fees may be applicable). The minimum loan amount is $10,000.00 and the maximum loan amount is $250,000. Rates apply to owner occupied 1-4 family residences with a maximum LTV 80%. All loan applications are subject to credit underwriting and collateral approval. Consult a tax advisor concerning the deductibility of interest.


Home Equity Lines of Credit

Rates as of Friday, December 14, 2018

Interest RateAPRProduct DescriptionApply
Perks Home Equity Line of Credit
1.500%1.500%During Introductory Period
5.000%5.000%Variable Rate After Introductory Period
Value PLUS Home Equity Line of Credit
6.250%6.250%


Perks Home Equity Line of Credit

APR= Annual Percentage Rate. Introductory rate of 1.50% fixed for the first six (6) months after loan and Prime minus 0.25% after. The current Prime Rate is 5.25%. After the six (6) month introductory rate period, the interest rate will be variable and equal the Index minus 0.25%.The index is the PRIME RATE published daily in the Money Rates column of the Wall Street Journal. The APR may increase or decrease each month if the Prime Rate changes throughout the Draw Period and the Repayment Period. The maximum APR is 18% and the minimum APR is 4.25%. The Draw Period is ten (10) years and the Repayment Period is twenty (20) years. The total term is thirty (30) years. Monthly payments of interest only calculated on the amount advanced will be required during the draw period. Monthly payment of principal and interest will be required during the repayment period. Up to 80% of the value of your home minus your first mortgage balance (if any). The minimum credit limit is $10,000 and the maximum credit limit is $250,000. If the line of credit is paid off within the first twelve (12) months after loan opening, an early termination fee of $450 will be charged in addition to any balance due on the loan. If the line of credit is paid off after the 12th month and within thirty six (36) months after loan opening, an early termination fee of $350 will be charged in addition to any balance due on the loan. Typical legal and recording fees will be paid by the credit union. Borrower(s) will be responsible for any fees related to trust review, subordinations, discharges, etc. If an appraisal is required, the appraisal fee will be paid by the borrower(s). Homeowner’s insurance and flood insurance (if applicable) are required. Eligible properties are 1-4 family, owner occupied homes. All loan applications are subject to PNCU credit guidelines, property approval and underwriting requirements. All rates are subject to change without prior notice.

Value PLUS Prime Home Equity Line of Credit

APR= Annual Percentage Rate. The interest rate will be the current Prime Rate plus 1.00%. The current Prime Rate is 5.25%. The interest rate is variable and equal to the Index plus a margin of 1%. The index is the PRIME RATE published daily in the Money Rates column of the Wall Street Journal. The APR and payment may increase or decrease each month if the Prime Rate changes during the Draw Period or the Repayment Period. The maximum APR is 18% and the minimum APR is 4.25%. The Draw Period is ten (10) years and the Repayment Period is twenty (20) years. The total term is thirty (30) years. Monthly payments of interest only calculated on the amount advanced will be required during the Draw Period. Monthly payments of principal and interest will be required during the Repayment Period. Up to 90% of the value of your home minus your first mortgage balance (if any). The minimum credit limit is $10,000 and the maximum credit limit is $250,000. The minimum median credit score of at least one borrower must be 700. The maximum debt to income ratio (DTI) is 41%. All loans are subject to PNCU credit guidelines, property approval and underwriting requirements. If the line of credit is paid off within the first twelve (12) months after loan opening, an early termination fee of $450 will be charged in addition to any balance due on the loan. If the line of credit is paid off after the 12th month and within thirty-six (36) months after loan closing, an early termination fee of $350 will be charged in addition to any balance due on the loan. Typical legal and recording fees will be paid by the credit union. Borrower(s) will be responsible for any fees related to trust review, subordinations, discharges, etc. If an appraisal is required, the appraisal fee will be paid by the borrower(s). Homeowner’s insurance and flood insurance (if applicable) are required. Eligible properties are 1-4 family, owner occupied homes. All loan applications are subject to PNCU credit guidelines, property approval and underwriting requirements. All rates are subject to change without prior notice.

 

 

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Polish National Credit Union
NMLS# 439259