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 |
|---|---|---|---|
| * 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 4.25% APR as of August 16, 2017. 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. |
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| Home Equity Line of Credit (HELOC) | Revolving | As low as 4.25% variable1 Max. APR = 18% | Varies 2 |
| Fixed Rate Equity | 10 years | As low as 6.05% | $11.11 |
| Signature Equity - Home Improvement Loan | 10 years | As low as 6.80% | $11.49 |
Use your home’s equity to gain access to cash and the interest may even be tax deductible!