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15-yr Line of Credit (HELOC)
A MAFCU home equity line of credit is a ready source of cash you can access simply by writing a check. This flexible financing solution offers:
- Low Variable Rates.*
- Credit lines based on 80% of the appraised value of your home minus the first mortgage.
- Interest-Only option.
- Minimum line of credit of $10,000; maximum line of $500,000.
- Free checks for convenient access to your line of credit.
- No initial draw requirement.
- Payments based on principal and interest.
- Monthly payment based on 15- or 20-year terms.
- Potential tax advantages.*
- Convenient 24-hour access to loan information through our ATMs, Free Online Banking and Free Telephone Banking services.
- No closing costs - we pay them.**
|APR||Min. Loan Amt||Max. Loan Amt|
1* Intro rate of 1.99% Annual Percentage Rate is a fixed rate for 12 mos. w/a minimum initial draw of $50,000 (2.99% APR if initial draw is between $25,000-$49,999). Rates are subject to change at any time. Your actual rate may vary (be higher), based on evaluation of applicant credit and terms. Offer is valid on qualified new HELOC applications received between 2/18/15-4/30/15 with a max 80% Combined Loan To Value ratio. Offer is NOT valid on refinancing of existing MAFCU HELOCs. Post intro APR is as low as Prime +.24%, the minimum is 3.49% and maximum is 18%. The index is the Prime Rate and is published in the Wall Street Journal. Loan must remain outstanding for at least 36 months or closing cost paid by MAFCU will be added on to the loan. Offer expires 4/30/15.