* APR=Annual Percentage Rate. Rates are subject to change without prior notification. SECU will advance the closing costs on any primary or second home with a loan amount of $300,000 or less, regardless of credit score and/or the number of SECU Home Equity loans the member has had. Closing costs generally range from $850 to $1,000 on a $20,000 loan or line of credit. If loan or line of credit is paid off within 24 months or original note date, closing costs must be reimbursed to SECU by borrower. Adequate property and flood insurance required, if applicable. Consult your tax advisor for deductibility of interest.
Lines of Credit: Rate as low as 0.99% APR is fixed for twelve months for qualified applicants, then the monthly APR will be a fully indexed, variable rate based on Prime plus or minus a margin and based on your credit line amount, Loan to Value (LTV) and other factors. Prime rate is obtained from the Wall Street Journal. As of 12/17/08, prime rate is 3.25%. The minimum APR that can apply is 3.5% and the maximum APR that can apply is 18%. The rate is variable and can adjust on a monthly basis. Minimum initial draw is $20,000, up to 90% Combined Loan to Value (CLTV).
Published rates and terms based on primary homes. Other rates and terms available for secondary homes and investment properties. This page is updated regularly. SECU is an Equal Housing Lender.