Available with a 10-year draw period, with interest-only payments for the first 10 years.
A home equity loan is a one-time loan on your home. Everence Federal Credit Union offers fixed-rate loans.
Everence Federal Credit Union, NMLS #403410
1 The introductory and sample variable annual percentage rate (APR) are based on new financing with an amount of $25,000 with an initial draw of $10,000 at loan closing and are current as of 6/1/2020. Applications are subject to approval. The variable rate APR adjust monthly based on the prime rate published in the Wall Street Journal on the last business day of the month, plus a margin based on loan-to-value and creditworthiness. Your APR will depend on credit and loan terms. Maximum APR is 18 percent. Offer limited to first and second mortgage liens on a one to four family residential property. Property insurance and/or flood insurance may be requested.
2 A credit of up to $300 will be applied toward closing costs for home equity lines of credit of $25,000 and above. If the home equity line of credit is closed within the first 24 months, the credit will be charged at payoff.