Ultimate HELOC Features
- Introductory 6 month rate of 3.99% APR*
- Pay no closing costs
- $100 cash bonus deposited to member’s account when acquiring a new or refinancing a HELOC held at another institution.*
- If qualified, borrow up to 90% of the appraised value of your home.
- Amounts between $10,000 and $250,000
- Interest-only repayment option (lowest possible monthly payments)
- No prepayment penalty ($250 fee if paid-off & closed in first 12 months)
- Local decision-making and processing
- Attentive, friendly service from start to finish
- Offered in Pennsylvania, New Jersey, and Delaware
Plus, Choose Between Two Great Repayment Options
Option 1 – Principal and Interest (Traditional)
- Introductory rate of 3.99% APR* for the first 6 months, then reverts to rate according to credit score at the time of application: as low as Wall Street Journal Prime Rate – .51% for 80% LTV** and Wall Street Journal Prime Rate – .26% for 81-90% LTV**. The floor rate is 3.99% APR*.
- 10 year revolving draw period – as principal is repaid, more becomes available for use.
- After the 10 year draw period the line of credit reverts to 15 year repayment term.
Option 2 – Interest Only
- Introductory rate of 3.99% APR* for the first 6 months, then reverts to rate according to credit score at the time of application: as low as Wall Street Journal Prime Rate – .51% for 80% LTV** and Wall Street Journal Prime Rate – .26% for 81-90% LTV**. The floor rate is 3.99% APR*.
- Interest only draw period – pay only the interest due monthly during the 5 year draw period ($50 minimum payment). This is ideal for borrowers looking to make the lowest possible monthly payment during the 5 year draw period. The trade-off is that because you’re not paying principal, you can’t draw more on the line as you make payments.
- After the 5 year draw period the line of credit reverts to a 15 year principal and interest repayment term.
Not sure which Ultimate HELOC repayment option is best for your unique financial needs? Click here to learn more.
*APR = Annual Percentage Rate. Rates are for qualified borrowers and are subject to change without notice. Introductory rate of 3.99% APR is for the first 6 months. At the end of the introductory term, the rate reverts to rate according to credit score at time of application: as low as Wall Street Journal Prime Rate – .51% for 80% LTV** and Wall Street Journal Prime Rate – .26% for 81-90% LTV**. Floor rate is 3.99% APR. $100 application fee for loans under $25,000. Early termination fee of $250 if HELOC is paid off & closed in the first 12 months. $100 cash bonus for acquiring a new or refinancing a HELOC held at another institution & will be deposited into member’s account after loan closing. Promotional bonus & rate are subject to institution’s discretion & may be discontinued without prior notice.
**LTV = Loan to Value
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