Home Equity Loans*
Open End Line of Credit - With a home equity line of credit, you can
borrow up to $75,000 to use almost any way you like. The variable rate** on
this loan is Prime Rate -.25%. The minimum line of credit is $10,000, with a 10
year draw and a total of 25 years repayment. There is NO application fee, NO
closing costs and NO annual fee. You'll also have the convenience of writing
checks to access available funds for as little as $300 per advance. Contact a
Credit Union representative for an application today.
Closed End - Use this loan for a large variety of purposes, including college expenses or
all that higher rate credit card debt. This is a fixed rate loan. You can
borrow up to 80% of the market value of your home, minus your first mortgage,
up to $100,000.
* Residence must be owner-occupied within Ohio. No pre-payment
penalties. Property insurance is required.
** Variable rate based on Wall Street Journal as quoted the last business day
of each month. As of 06/01/2013, it was 3.25% APR. Minimum rate is 3% and
maximum is 18%. Rate can change monthly.