NO CLOSING COSTS For New Equity Loans!
Conditions apply. See a loan officer for details.
Fixed Rate Home Equity Loans
The Meteor loan has a fixed rate and monthly payment for terms up to 240 months.
- The Meteor loan is disbursed with one check at settlement.
- Financing is available for up to 85% of the current home value (LTV).
- If the first mortgage is not financed with CFCU, then you are eligible to qualify for up to 80% of the value of the home (less first mortgage) for the DC metropolitan area.
- Properties outside of the D.C. metropolitan are eligible for 75% of the value of the home.
- Financing options are also available for 90% or less (LTV). See a Loan Officer for more details on rates for 90% option. Loan limits (25k-400k). For new money loans.
- Financing over 90%, contact a loan officer.
Rates quoted with an LTV up to 85%.
Equity Line of Credit Loans
Home Equity Line of Credit
The Home Equity Line of Credit allows members to pay ‘as you go’. You only pay for what you borrow. Your credit limit can be accessed over and over again. Enjoy affordable monthly payments amortized up to 240 months.
- Financing is available up to 95% of the current home value (less first mortgage), if the first mortgage is financed with CFCU.
- If the first mortgage is not financed with CFCU, then you are eligible to qualify for up to 90% of the value of the home (less the first mortgage).
- Properties outside the DC metropolitan area are eligible for up to 85% of the value of the home (less first mortgage).
- Minimum Line of Credit is $25,000 with a maximum of $800,000.
- The Home Equity Line of Credit has a variable interest rate and is tied to the WALL STREET Prime rate with a Margin of 0%; the rate subject to adjust quarterly with a floor rate of 4% and a maximum rate of 14%. The quarterly rate will not increase more than 2.00% and the lifetime rate will never go over 14.00%. New Money Only. For more information please refer to the Home Equity Early Disclosure
*APR = Annual Percentage Rate
Rates quoted as of 1/5/17 and are subject to change without notice.