This is a fixed rate/term loan on your home. We
will loan up to 80% of the appraised value of the property less the first mortgage.
The terms are five to fifteen years. The same fees apply as for an Equity Line of Credit.
Closing costs:
| Legal Fees | $125.00 |
| Registry Recording (estimated) | 25.00 |
| Flood Determination Certificate | 25.00 |
Example:
Total Loan: $15,000.00 |
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| Five Year Term | Ten Year Term | Fifteen Year Term |
| $304.15 per Month - Fixed | $185.98 per Month - Fixed | $152.14 per Month - Fixed |
For more information, e-mail
the credit union at equity@stannecu.org
and be the first to get an application
7.75% APR
Prime is presently 7.75%.
We will loan up to 80% of the appraised value of the property less the first mortgage.
We will use the real estate tax bill for value, or conduct an appraisal at a cost of
$125.00.
The same fees apply as for an Equity Loan.
Closing costs:
| Legal Fees | $125.00 |
| Registry Recording (estimated) | 25.00 |
| Flood Determination Certificate | 25.00 |
Example:
| Total Line of Credit Approved | $25,000.00 |
| Total Advanced Balance (Amount Owed) | $10,000.00 |
| Interest Payment ((Total Advanced x 7.75%)/12) | $64.58 |
| Principal Payment (Total Advanced x 1%) | 100.00 |
| Total Monthly Payment | $164.58 |
For more information, e-mail
the credit union at heloc@stannecu.org
and be the first to get an application
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