Home Equity Line of Credit (HELOC)
This is an open-end revolving line of credit secured by the
equity in your home. If you're planning a home improvement project
or want to consolidate bills, this is the perfect loan to help you
get the extra funds you need for whatever you're planning.
- 35-year term (20-year "draw period" with a final 15-year
repayment period)
- Minimum loan amount $7,500; maximum loan amount $400,000
- Financing available up to 70% of your home's appraised value
minus your first mortgage balance
- Rate based on Wall Street Journal prime + a margin
- Interest paid may be tax deductible (consult your tax advisor
for details)
Check
Current Rates
To learn more and to apply please call our parent company, CFE
Federal Credit Union, at 407-896-9411 or 800-771-9411 outside
Orlando, option 3.
Second Mortgage
A fixed-rate fully amortized second mortgage is perfect for
additions or renovations on your home.
- Terms up to 15 years
- Minimum loan amount $7,500; maximum loan amount $400,000
- Financing available up to 80% of your home's appraised value
minus your first mortgage balance
- Rate based on loan-to-value ratio and term financed
- No prepayment penalties
Fixed Rate Second Mortgage example:
|
Loan Amount:
|
$25,000
|
|
Sample Interest Rate:
|
8.000%
|
|
APR 1:
|
8.000%
|
|
Term:
|
15 Years
|
|
Monthly Payment 2:
|
$232.10
|
|
Total Finance Charges:
|
$18,127.66
|
Check
Current Rates
To learn more and to apply please call our parent company, CFE
Federal Credit Union, at 407-896-9411 or 800-771-9411 outside
Orlando, option 3.
First Lien Home Equity Line of Credit (HELOC)
Planning a home improvement project or wanting to consolidate
your bills? If you have a low mortgage balance or own your home
outright, this is the perfect loan for you. Use the extra cash to
tackle a home improvement project, consolidate bills, travel or use
the extra cash for whatever you'd like! This First Lien HELOC
provides flexible options to fit your unique borrowing needs.
- 35 year term (20 year "draw period" with a final 15 year
repayment period)
- Financing available for up to 50% of your home's appraised
value
- Minimum loan amount $7,500; maximum loan amount $200,000
- Rate based on Wall Street Journal prime + 0
- Interest paid may be tax deductible (consult your tax advisor
for details)
- Accessible by check, online banking, telephone
banking, and in-person
Check
Current Rates
To learn more and to apply please call our parent company, CFE
Federal Credit Union, at 407-896-9411 or 800-771-9411 outside
Orlando, option 3.