Home Equity Rates

¹Second Mortgage Loan: Once established, the APR is fixed for the term of the loan. Stated rates may change at any time. Loan terms are 5, 10, 15, and 20 years. Minimum payment $200. Minimum credit score 680 for Combined Loan to Value (CLTV) over 80%. Credit score adjustments for credit score of 650-699 add 0.25% and credit score below 650 add 0.75%. For all home equity/second mortgage products, credit lines or loan amounts are available up to $150,000. Property insurance is required. Flood insurance may be required. Borrower is responsible for all closing cost fees. Closing costs are collected prior to funding Fixed Rate Second Mortgages. Valid for owner-occupied single-family, townhomes, and condominiums up to 90% LTV. Valid for owner-occupied, 2-4 unit and second homes up to 80% LTV. Valid for non-owner-occupied, one-unit and homes and condominiums up to 70% LTV. Available in IL, WI, CA, IN and AZ. ²Consult your tax advisor about the deductibility of interest. ³APR=Annual Percentage Rate. Rates are subject to change at any time.

*APR=Annual Percentage Rate. Rates are subject to change at any time. Interest Only up to 80% CLTV floor rate is 4% and maximum is 16%. Interest Only 80.01-90.00% CLTV floor rate is 6% and a maximum of 18%. Interest only rates vary from prime plus 1% to prime plus 4.50%. 80% CLTV Product is available in IL, WI, IN, AZ, CA. 80.01%-90.00% CLTV Product is available in IL, IN and WI. 80.01-90.00% CLTV is only valid for direct member applications, and owner-occupied properties. Property insurance is required. Flood insurance may be required. Consult your tax advisor about the deductibility of interest. Borrower is responsible for all closing cost fees. Closing costs will be advanced from the available Home Equity Line of Credit. There is a fifty-dollar annual fee after the first year and a $100 minimum monthly payment. Rates may change monthly based on rates published in the Money Rates column of the Wall Street Journal. Your initial APR for an Interest Home Equity Line of Credit will be calculated by adding the appropriate margin to the prevailing Prime Rate (index) as published in the Money Rates column of the Wall Street Journal as of the date your documents are prepared. The initial rate will remain in effect until the first rate change date as described. The subsequent APR is a variable rate based on the highest Prime Rate as listed in the Money Rates Section of the Wall Street Journal on the first business day of the month. Other fees may apply, please reference GLCU’s fee schedule.