Click here for more information on of FEFCU'S Home Equity Loan options to help you decide which is best for you.
|Home Equity Loans|
|Major Features||Variable Equity Line|
|Rates||240 months* 3.50% APR
360 months* 3.50% APR
|Payment per $1,000||
|Type of Rate||As low as Prime -1% (Wall Street Journal)
The annual percentage rate can change annually on the first day of February. The rate cannot increase or decrease more than 2 percentage points in any one-year period.
|Ceiling Rate||Maximum APR is as low as 10.25%
Calculated as Prime +6
|Floor Rate||Minimum APR is as low as 2.99%|
|Maximum Loan||80% of home value|
|Minimum Loan or Line||$5,000 for initial line and
$1,000 for each advance
$30,000 (no-fee special*)
|Available Terms||240 months: 5 year draw period/20 year total repayment of loan
360 months: 5 year draw period/30 year total repayment of loan
|Tax Advantage||See Tax Advisor|
Rates are subject to change at any time without notice.
APR= Annual Percentage Rate
For a limited time, FEFCU will pay all processing fees up to $400.
Processing fees include appraisal, flood determination, title search, title insurance, mortgage document preparation and recording fees. $400 based on a $43,000 loan on a primary residence located in Summit County. Additional fees may apply based on amount of loan and county in which the primary residence is location. To qualify for the limited time, "No Fee" special you must draw $30,000 for your first advance for 36 months. If you pay-off the loan for any reason within 36 months, a $400 fee reimbursement charge will apply to reimburse processing fees. Actual rates, fees, and terms are based on those offered as of the date of application and are subject to change without notice.
**Only on primary residences located in Ohio**
ALL RATES ARE SUBJECT TO CHANGE AT ANY TIME WITHOUT NOTICE