APR will adjust quarterly based on the Prime Rate as published in the Wall Street Journal. Qualified properties include owner-occupied single-family homes, condominiums, town homes, two and four-flats in Arizona, California, Florida, Georgia, Illinois, Massachusetts, New Hampshire, New York, Pennsylvania, Texas and Wisconsin. Texas Residents: You may borrow between 50% and 80% of your home’s property value based on the outstanding first mortgage balance less any liens. Minimum initial advance is $5,000 and subsequent advances must be $500 or more, except for TX, which is $4,000 for both the initial and subsequent advances. If residing in FL, GA or NY, closing costs include appraisal, title and recording fees, but not state or county taxes/fees, which range from $10 to $5,000 depending on state and amount of HELOC. If the HELOC is closed within 12 months of opening, the closing costs must be repaid, typically $500 to $2,000. Maximum Annual Percentage Rate (APR) is 18%. The credit union makes loans without regard to race, color, religion, national origin, sex, handicap, or familial status.
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