The Annual Percentage Rate (APR) of a HELOC is indexed to the Prime Rate as published on the money rate table in the Wall Street Journal + a margin for the life of the loan. Prime Rate as of 7/27/2023 is 8.50%. Our current lowest APR for credit lines over $100,000 is 8.50%, which includes + 0.00 margin and for credit lines under $100,000 is 9.00%, which includes + 0.50 margin. HELOC APRs are variable and subject to change. The maximum APR that may be imposed is 18.00%. Maximum loan-to-value as high as 90%, depending on creditworthiness. No closing costs for loan amounts of $100,000 and less except for legal fees, if required. For loan amounts over $100,000, estimated closing costs may range from $1,625 to $2,897. A review of the credit eligibility, adequate property value , and a clear title is also needed for qualification. Other restrictions may apply. The minimum loan amount is $10,000 and the maximum loan amount is $300,000. The term is up to 240 months. Pay interest only on the amount drawn or 1% of the balance. Membership with Freedom First is a requirement for this offer with a $5 share account. Property insurance, if applicable, must be in effect on the property being secured and the said property must be in the Freedom First Credit Union membership area. The property must be owner occupied . Please consult a tax adviser for further information regarding the deductibility of interest. All credit union loan programs, rates, term and conditions are subject to change at any time without notice. Contact a Freedom First Credit Union representative at (540) 389-0244 for complete details.
For qualifying credit lines of $100,000 or less, an introductory rate as low as 8.25% fixed APR applies for the first thirteen (13) months of the loan. After the introductory period, the APR will revert back to the original rate indexed to the Prime Rate. Your actual rates may vary, depending on credit history, loan amount and term, loan to value ratio, and other factors. Maximum loan-to-value as high as 80%, depending on creditworthiness. No closing costs for loan amounts of $100,000 and less except for legal fees, if required. Contact a Freedom First Credit Union representative at (540) 389-0244 for more details.