| Once you
have built up some equity in your home, you have a valuable resource
available to you. You can borrow against that equity in two ways:
Home Equity Loans
- A fixed sum of money for virtually any need
- Low interest rates
- Possible tax advantages (consult your tax advisor)
- Terms of up to 15 years
- LTV of up to 100%
- No Appraisal Required
Home Equity Line of Credit (click
here for info on payment calculation changes made in May, 2005)
- A flexible source of credit
- Access the money you need, when you need it
- Low interest rates
- Your rate will never exceed 18% or the maximum allowed by law.
- Possible tax advantages (consult your tax advisor)
- LTV of up to 100%
- Rates as low as prime
- 20 year repayment
- No Appraisal Required
>>Click
here to apply for a loan
Do you know what your
credit report says about you? Click here to find out.
HELOC Disclosures:
- Annual Percentage Rate (APR) based on prime rate and line amount
is subject to change monthly.
- Your rate will never exceed 18% or the maximum allowed by law.
- The minimum credit advance you can received is $2,500 for the
first advance and $250 for each subsequent advance
- Maximum draw period of 8 years.
- Repayment period - up to 20 years.
- 5% penalty for late payments
- With a draw of $10,000 in new BFCU money, BFCU pays 1) all attorney
fees and closing costs if a BFCU preferred attorney is chosen,
or 2) if not, $200 toward your chosen attorney and any remaining
closing costs.
- Must maintain adequate property insurance.
- Membership eligibility required.
- See a Member Service Representative for more details.
- See a tax advisor regarding deductibilty of interest.
Revised 9/1/06
|
