Home Equity Loan and Line of Credit Specials

HOME EQUITY LOAN SPECIAL – CLOSING COST REDUCTION!

ACT 1st Federal Credit Union will reduce closing costs by $500.00 for loans greater than $25,000.00 and by $250.00 for loans less than $25,000.00. To be eligible for this offer, member must have an Advantage Plus Cash Reward Checking Account and sign up for automatic payment on this loan. This offer is scheduled to run through August 31, 2020. However, the Credit Union reserves the right to terminate it at any time.

Borrow at a rate as low as 2.25% APR* up to 60 months!

*APR = Annual Percentage Rate. Rates and terms are accurate as of August 1, 2020, and subject to change without notice. Prior to obtaining a Home Equity Loan, member must have an ACT 1st FCU savings account with at least $5.00 on deposit. Mortgage and Home Equity Loans are approved for 80% of the appraised value of the primary residence, minus any current liens against the property. Risk based lending rules apply. Per $1,000.00 borrowed, the approximate monthly payment is $17.66 at 2.30% APR for 60 months, assuming credit life and disability insurance is not elected. This payment amount does not include taxes and insurance premiums. Your actual payment obligation will be greater. Please call today for specific financing terms. Restrictions and requirements apply.

Please consult a tax adviser for information regarding the deductibility of interest and charges.

 

HOME EQUITY LINE OF CREDIT SPECIAL – 6-MONTH INTRODUCTORY RATE AND CLOSING COST REDUCTION!

ACT 1st Federal Credit Union is offering a 6-MONTH introductory 1.99% APR* AND will reduce closing costs by $500.00 for loans greater than $25,000.00 and by $250.00 for loans less than $25,000.00. To be eligible for these offers, member must have an Advantage Plus Cash Reward Checking Account and sign up for automatic payment on this loan. These offers are scheduled to run through June 30, 2020. However, the Credit Union reserves the right to terminate it at any time.

Regular HELOC rate is currently 3.00% APR*. Maximum credit line is $50,000.00.

*APR based on March 16, 2020 prime rate minus 0.25%. This is a variable rate and is subject to change monthly with a cap set at .50% per change. The maximum rate that may be charged is 5% above the initial rate. Line of credit is equal to 80% of appraised home value less amount of any existing liens. Payments will be calculated on a 120 month amortization. The minimum payment amount is $100.00. Payment is subject to change annually in December and will only adjust upward. A $75.00 application fee and $50.00 annual fee will apply. Prior to obtaining a Home Equity Line of Credit, member must have an ACT 1st FCU savings account with at least $5.00 on deposit. Further restrictions and requirements may apply.

Please consult a tax adviser for information regarding the deductibility of interest and charges.

 

 

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