Take advantage of your home’s value with our Home Equity Line of Credit. By using the equity in your home, you can finance home improvements, consolidate debt, or even take a vacation.
- Variable interest rate
- Fixed rate and term options are also available
- Revolving Line of Credit
- The monthly payment automatically adjusts with each advancement
- A monthly billing notice is mailed out each month to the borrower
- Funds are accessible by transferring online, in-person requests, and with home equity checks
|Loan Type||Term||APR*||Monthly Payment Per $1,000 Borrowed|
|Home Equity Line of Credit (HELOC)||Revolving||As low as 3.25% variable1|
Max. APR = 18%
|Fixed Rate Equity||10 years||As low as 5.51%||$10.86|
|Signature Equity - Home Improvement Loan||10 years||As low as 6.26%||$11.24|
|* Annual Percentage Rate. Rate adjusted quarterly based on prime rate plus 0.00%.
1. The home equity line of credit loan has a variable rate of prime plus 0.00% for the life of the loan. The rate is subject to adjust quarterly. Prime rate is 3.25% APR as of 08/17/20. Hazard Insurance is required; flood insurance is required where necessary. Please consult your tax adviser for deductibility of interest and charges. We will lend up to 80% of the appraised value of your home, minus the first mortgage or 90% LTV if New Dimensions FCU is the first lienholder. Minimum credit line is $5,000.
2. HELOC minimum monthly payment will be the greatest of: (i) 1.50% of the line’s balance at the last advance, (ii) the amount of accrued finance charges, or (iii) $50. Minimum draw (or advance) amount of $500 at all times. Payments quoted above do not include taxes and/or insurance premiums.
Use your home’s equity to gain access to cash!