Let your home work for you
|Term (in years)||Rate Range (APR*)|
|5 Year (Fixed)||2.75% - 6.00%1|
|7 Year (Fixed)||3.75% - 6.99%1|
|10 Year (Fixed)||3.99% - 7.49%1|
|15 Year (Fixed)||4.99% - 7.75%1|
|20 Year||2.99%5 - 4.00%2|
You work hard for your home, so why not let your home work for you? Home Equity loans are designed to use the value of your home to help you pay for repairs, renovations, college, vacation, debt consolidation, along with many other expenses.
Equity is defined as "residual value of a business or property beyond any mortgage thereon and liability therein." In other words, the longer you have paid on your house, the more equity you have built.
You can calculate the equity in your home simply by using the following formula:
Life can be unpredictable so it's important to have the right protection in place, even on your loans. For that reason, we offer a new program called Member's Choice Borrower Security in the case that if something happens to you, your loved ones aren't responsible for paying your debt.
There are three program options to choose from: Loss of Life, Disability, Loss of Life & Disability, and Loss of Life, Disability and Involuntary Unemployment. Each option offers a low-cost premium that is built right into your monthly loan payment making it one less thing to worry about. Plus, as you pay down your loan, the premium goes down as well.
* Annual Percentage Rate
1 Rate determined by credit worthiness. If Loan to Value (LTV) is greater than 80% then an additional 1.00% may be added to qualified rate.
2 Annual Percentage Rates subject to change at any time. Rate is based on prime rate.
3 Disclosure: *APR = Annual Percentage Rate. Home Equity Line of Credit Rates start as low as 2.75% Fixed APR for 5 years, 3.75% Fixed APR for 7 years, 3.99% Fixed APR for 10 years and 4.99% Fixed APR for 15 years. Rate based on credit worthiness For all stated maturities, the draw period is limited to the first three (3) years. Limited time offer. Rates and terms subject to change without notice. Some restrictions apply. **A recapture fee of appraisal and closing costs, estimated at $475, will apply if loan is satisfied within the first three (3) years. Current Valor CU Home Equity Loans are excluded. Contact credit union for complete terms and conditions.
4 Competing financial institution must be located in Lackawanna, Luzerne, Monroe, Pike, Wayne or Wyoming counties. Ad must be brought into branch from competing financial institutions in order to verify rate. Competitor Mortgage rates do not qualify for this offer. Cash rebate will be deposited into member's share savings account after loan has been approved. Inquire at Valor for complete terms and conditions.
5 2.99% APR applies on 20-year HELOC opened during the promo period and advances taken during the first year of the loan. After 12 months from the open date all balances will revert to the current rate at the time based on the original loan disclosures. Rate based on credit score of 680 or above for all new HELOCs. For existing 20-year HELOCs that are in their draw period according to the original loan agreement, rate only applies if advance taken during the promo period. All current balances will remain at the current rate based on the original loan disclosures. The date of the first draw starts the promo period. After 12 months from that date the rate will revert to the current rate at the time based on the original loan disclosure. Combined LTV must not be greater than 80%. A recapture fee of closing costs will apply if loan is paid off within 3 years. Limited time offer. Rates and terms subject to change without notice. Some restrictions may apply. Contact credit union for complete terms and conditions.
Please note all online loan applications are viewed during normal business hours.
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