Home Equity Rates
| Rates Effective: January 1, 2021 | ||
 |
Rate | APR* |
|---|---|---|
| EquityLine (Home Equity Line of Credit) up to 70% LTV1 | ||
| Interest Only | 3.00% | Variable |
| EquityLine (Home Equity Line of Credit) up to 80% LTV1 | ||
| Interest Only | 3.25% | Variable |
| EquityLine (Home Equity Line of Credit) up to 90% LTV1 | ||
| Interest Only | 3.50% | Variable |
| EquityLine (Home Equity Line of Credit) up to 100% LTV | ||
| Interest Only | 5.50% | Variable |
| Equity Line Purchase Money up to 100% LTV | ||
| Interest Only | 5.50% | Variable |
| Equity Plus up to 70% LTV | ||
| 5 Years | 3.74% | Fixed |
| 10 Years | 4.24% | Fixed |
| 15 Years | 4.74% | Fixed |
| Equity Plus up to 80% LTV | ||
| 5 Years | 3.99% | Fixed |
| 10 Years | 4.74% | Fixed |
| 15 Years | 4.99% | Fixed |
| Equity Plus up to 90% LTV | ||
| 5 Years | 4.49% | Fixed |
| 10 years | 4.99% | Fixed |
| 15 Years | 5.24% | Fixed |
| Equity ONEHundred up to 100% LTV | ||
| 5 Years | 5.49% | Fixed |
| 10 Years | 6.74% | Fixed |
| 15 Years | 7.24% | Fixed |
| 20 Years | 7.74% | Fixed |
| Home Equity Loan Purchase Money (Second) up to 100% LTV | ||
| 15 Years | 7.24% | Fixed |
| 20 Years | 7.74% | Fixed |
| Home Equity Improvement Loan up to 133% LTV | ||
| 5 Years | 6.99% | Fixed |
| 10 Years | 7.74% | Fixed |
| 15 Years | 8.24% | Fixed |
Disclosures
- CommonWealth One Federal Credit Union complies with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act). A list of our registered originators can be found by searching for CommonWealth One FCU at https://www.nmlsconsumeraccess.org/.
- Minimum loan or line of credit amount is $15,000 and maximum loan or line of credit amount is $250,000.
- 1LTV = Loan To Value
- *APR = Annual Percentage Rate. Rates are subject to change at any time. All credit union rates and terms are based upon the evaluation of applicant(s) credit. Your actual rate may vary.
- Loans are subject to a minimum monthly payment of $45.00.
- Home equity loans are available on primary residences located in Virginia, Maryland, North Carolina, Kentucky, Tennessee, West Virginia, and Washington, DC.
- Please check with your tax advisor regarding loan interest deductibility.
- Closing costs include credit reports, appraisal fee, flood certification, title search, recording fees, and mortgage transfer taxes. Members will be obligated to pay the closing costs associated with the closing of this loan request. If a drive-by or a full appraisal is required to support the loan request, this expense will be paid by the member. Total closing costs generally range from $100 to $1,000 based on the loan amount. Closing costs can be incorporated and paid with the loan proceeds. Members should retain a copy of the home equity disclosures. Member may receive a refund of any fees if the rate changes and the member decide not to complete the process.
- Property insurance is required and flood insurance may be required.
- Granting of a home equity loan may result in the credit union acquiring a security interest in the property.
- Certain restrictions apply.