For a limited time, SCU will pay all normal closing costs on new Home Equity Lines of Credit. (No more than once every 24 months.)
2.9% APR for the first year, then adjusts to the Prime Rate, as reported by the Wall Street Journal, plus 1.00% APR with a maximum rate of 18.00% APR.
Consult with your tax advisor about tax deductibility. As of 12/14/2016, the Prime Rate was 3.75% APR. Rates adjust quarterly if there is a change in the Prime Rate. Flood/property/hazard insurance may be required.
Rates effective as of December 14, 2016.
Borrow up to 85% of your home's value, minus existing mortgage(s).
Write a home equity check for $100 or more.
No prepayment penalties; no annual fee.
The interest you pay may be tax deductible - ask your tax professional.