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Rates > Home Equity Line & Home Equity
Loan Rates |
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Home Equity Line & Home Equity Loan Rates as
of
1/2/2009
Enjoy a low rate on a Home Equity Line of Credit or Home Equity Loan at Virginia Credit Union.
For more information, call (804) 323-6800 or (800) 285-6609.
| | Loan Type & Description | Annual Percentage Rate | | Equity Line | Loan to Value of 80% or less | 4.00% (6)
| | Loan to Value 81-90% | 4.00% (6)
| | Home Equity Loan | 12 - 60 months | 6.25% (7)
| | 61 - 120 months | 6.50% (7)
| | 121 - 180 months | 7.25% (7)
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Property insurance is required. If you close a Home Equity Line or pay off a
Home Equity Loan within 36 months after getting it, you may be required to
reimburse the credit union for closing costs.
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6
APR on an Equity Line may vary and may be adjusted monthly based on the Prime Rate published in the Wall Street Journal. Minimum APR is 4.00%. Maximum APR is 18.00%. Minimum monthly payment is 1.5% of the unpaid balance or $50, whichever is greater. Paying only the minimum monthly payment may result in a balloon payment due at maturity. Not all borrowers will qualify for this rate and term. Contact us for additional rate information.
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APR shown for Home Equity Loan is based on qualifying credit and Loan to Value of 80% or less and includes a .25% APR discount for payments through payroll deduction, approved automatic transfer or automatic draft from checking. APR is for a loan with Loan to Value of 80% or less. If your Loan to Value is between 81% and 90%, add 0.75% to the APR.
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Please contact us if you have questions or we can
help you in any way.
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