*APR = Annual Percentage Rate. Home Equities and Home Equity Lines of Credit for $400,000 or more require a full appraisal. Credit Union membership is required. Homeowners insurance and flood insurance (if applicable) are required for the life of the loan. Offer is subject to change at any time. Consult your tax advisor regarding the deductibility of interest on these loans.
1. Index is the Prime Rate as published in the Wall Street Journal on the last business day of the previous month. The rate may increase during the term of the loan. Minimum credit line is $15,000. The maximum APR is 18.00%. Floor rate is 3.00%.
2. Rehab Home Equity Lines require a full appraisal regardless of loan amount.
3. The Initial Annual Percentage Rate (APR) is fixed for 12 months and is based upon a discounted margin of 1.00% tied to the Prime Rate at closing. Thereafter the APR becomes a monthly variable rate equal to the Prime Rate as published in the Wall Street Journal on the last business day of the previous month. Subject to credit approval & underwriting approval. The APR will never exceed 18.00% or drop below floor rate of 3.25% after the first anniversary of the agreement date. Minimum credit line is $25,000 and maximum credit line is $500,000. This is a limited-time offer subject to change without notice and is available for new lines and owner-occupied, one-to-four-family properties only. Existing LBCU Home Equity Lines are not eligible for refinance with this promotion.