*APR = Annual Percentage Rate.
Above APRs are based on loan amounts of $20,000. The APR is fixed for the loan term. The minimum amount that can be borrowed is $5,000 and the maximum amount is $20,000. We are offering loans that range from 1-10 years based on your comfortability and preference. There is no maximum Loan-To-Value (LTV).
THE ABOVE PAYMENT EXAMPLES DO NOT REFLECT AMOUNTS DUE/ YOUR ACTUAL MONTHLY PAYMENT OBLIGATIONS MAY BE HIGHER. THERE ARE NO CLOSING COSTS FOR THIS LOAN AND ALL OUT OF POCKET EXPENSES FOR APPRAISALS WILL BE REIMBURSED AT CLOSING.
Home Equity accounts are secured by a mortgage on your primary residence. Property insurance is required. Flood insurance may be required if the property is in a flood zone. Rates may be higher based on applicant’s creditworthiness. Rates and terms are subject to change without notice. Certain restrictions may apply. Membership is required.
Qualifications - This inclusive loan is only being offered to members who meet the following pre-qualifications:
(1) Own the property as their primary residence.
(2) Said primary residence falls within a low to moderate census tract zone as scaled by the FFIEC
website. For directions on how to pull this information at home, please click
here for directions.
(3) If your home falls within the low to moderate census tract zones, you pre-qualify for the loan.
(4) If your home does not fall within the low to moderate census tract zone mentioned in section 3, you can still pre-qualify by having a household income at or below the low to moderate scale. Incomes vary by County and can be found
here.
(5) Must qualify for the loan through other standard eligibility such as credit score, debt to income ratio and lien position.