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Home Equity Plan
Overview
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Get fast, flexible access to your home's equity. Our 3 in 1 Advantage Plan is an equity line of credit, with options for fixed loans and a convenient credit card in one handy package.
- No application fees
- No minimum draw requirement
- No closing costs*
Line of Credit
- Borrow as often as you like, up to your approved limit.
- As you pay down the balance, your available credit increases.
- Take any portion of your line, convert it to a fixed rate advance and choose your repayment term...no application needed.
- Interest-only payment option available.
Fixed Rate Advances
- Get the security of fixed payments by converting any or all of your line into a fixed rate advance.
- Get up to three fixed rate advances at a time.
- Each advance works like an installment loan with fixed payments for the term you choose.
- Fix your rate anytime without an application.
Credit Card
- Convert a portion of your equity into a Platinum credit card.
- Get the same great low rate you enjoy on your line of credit.
- Automatic enrollment in MemberPoints lets you earn free gift cards, brand-name merchandise and great travel rewards on purchases.
Rates
Home Equity 3 in 1 Advantage Plan
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| Line of Credit and Visa Platinum Credit Card | APR1 | Payment per $1,0002 | Alert Me |
| To 75% LTV (Prime - 1/2%) | 3.00% | Varies | |
| 76% to 85% LTV (Prime + 1/2%) | 4.00% | Varies | |
| Over 85% LTV (Prime + 1 1/2%) | 5.00% | Varies | |
| Fixed Rate Advance - To 75% LTV | Alert Me | ||
| Up to 5 years | 3.49% | $18.19 | |
| 5 to 10 years | 4.49% | $10.36 | |
| 10 to 15 years | 4.99% | $7.90 | |
| 15 to 20 years | 5.99% | $7.16 | |
| Fixed Rate Advance - 76% to 85% LTV | Alert Me | ||
| Up to 5 years | 3.74% | $18.30 | |
| 5 to 10 years | 4.74% | $10.48 | |
| 10 to 15 years | 5.24% | $8.03 | |
| 15 to 20 years | 6.24% | $7.30 | |
| Fixed Rate Advance - Over 85% LTV | Alert Me | ||
| Up to 5 years | 3.99% | $18.42 | |
| 5 to 10 years | 4.99% | $10.60 | |
| 10 to 15 years | 5.49% | $8.17 | |
| 15 to 20 years | 6.49% | $7.45 | |
| Apply for a Home Equity | |||
| Rates shown are for members with the best credit profile. Other rates are available, based on your credit history. Contact Member Services at 800-656-4328 for rate details.
The plan allows up to three fixed rate advances from your line at any given time during the 10 year draw period. If you terminate your line within the first 24 months after closing, you will be responsible for closing costs. These costs generally range from $400-$700. Closing costs do not include any taxes (if necessary). Interest begins accruing upon loan disbursal. Check with your tax adviser about tax deductibility of interest. Homeowners insurance is required. Total Mortgages/Property Value = LTV |
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Home Equity Early Disclosure / Terms
Non-usage Fee: During the draw period, when there are no advances taken for any twelve (12) consecutive months following your anniversary date, you agree to pay the Lender a Non-Usage fee of $50.00.
*If you terminate your line within the first 24 months after closing, you will be responsible for closing costs. These costs generally range from $400-$700. Closing costs do not include any taxes (if necessary).