Have you been thinking of renovating your home, paying down high-interest debt, or going back to school? If so, a Home Equity Line of Credit, or HELOC, could be just the right tool for the job. HELOCs use the equity in your home to give you a set amount of money you can draw from, and an interest-only payment option is available upon qualification.
About Our HELOC*
- Revolving line of credit with no interest paid until the funds are accessed
- Borrow up to $250,000 ($15,000 minimum line)
- No closing cost option
- 5-year draw period, with a 15-year repayment term
- Flexible repayment options and competitive, discounted rates for qualified members
- Loan-to-value up to 90% of your home's appraised value
- Easy access to funds - talk to your loan officer about access options
- No annual fee, no application fee, and no prepayment penalty
- Quick, local decisions and closings
- Rates change only four times per year
- Interest may be tax-deductible**
Interested? Fill out the form below or give us a call today at (423) 875-6955.
*Restrictions apply. Rate and terms based on credit score and subject to change. The Annual Percentage Rate is a variable rate and the maximum APR that can apply is 18%. Loan-to-value not to exceed 90% of the subject property’s appraised value. Borrowers must make a minimum initial advance of $10,000 and maintain a minimum balance of $8,500.00 for 12 months from the opening date to avoid repayment of closing costs.
Property insurance is required. Flood insurance may be required. If the state and/or county in which the collateral is located charges additional fees and taxes, the borrower may be responsible for payment. See a loan officer for full details.
**Consult a tax advisor regarding the deductibility of interest.
Nationwide Mortgage Licensing System Registered Employees:
| Position | Name | Individual ID # |
|---|---|---|
| Loan Officer | Mickens, Shirley | 941661 |
| Loan Officer | Hodges, Michelle | 713097 |
| Loan Officer | Moates, Gayle | 713094 |
| Loan Officer | Dray, Kristin | 1423298 |
| CLO | Selcer, Rodney | 593712 |
| CEO | Foster, Kendall | 713096 |
All loan rates and terms are subject to change without notice. Loan rates and terms will vary depending on the strength of the member's credit, and term selected. Actual rates could vary. Ask the credit union for the rate for which you qualify.