Home Equity Loans

FLEX-PAY – Home Value Line of Credit

Members wanting a flexible payment that can range from interest only to the entire balance will appreciate the Flex-Pay line of credit. This line of credit can be great for borrowers who want to keep payments low.

minimum payment: interest only

LOW-CAP – Home Value Line of Credit

For members who wish to take out a line of credit based on their home’s value. Use the funds as revolving credit, a home addition or pay off bills. With rates that are better than a credit card,
the Low-Cap could be the perfect “rainy day” fund.

minimum payment: 1.0% of balance

Currently at 5.0% APR***
11.99% APR maximum rate cap

Both Programs Feature:

  • 10-Year draw period – use and re-use your available credit again and again*
  • No Annual Fee
  • No cost or fees to open a Home Value Line**
  • Convenient access to your funds any time – using Online Internet Account Access, or call us to transfer the funds to your checking or savings!
  • Currently 5.0% APR***
  • Tax benefits are available for some borrowers
    (please see a tax advisor to see if you qualify).

Which is best for you?

With our variety of programs and vast experience we can help you determine which is right for you, your family, and will be the best choice for your financial success. Call us toll-free today to talk with our Mortgage Loan Specialists at 800-426-1601 or e-mail them at homes@pcfcu.org.

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Third Party Fees. You must pay certain fees to third parties such as appraisers, credit reporting firms, and government agencies. In addition, you must carry insurance on the property that secures this Account. The amount of these fees depends on the amount of the line of credit, and generally total between $189 and $1,182. For example, on a $10,000 line of credit/equity loan the following estimated fees must be paid to third parties:

  • Title Insurance: $75.00 – $350.00*
  • Recording Fee: $82.00 – $100.00*
  • Flood Determination: $14.00*
  • Valuation Fee: $18.00*
  • Appraisal: $450.00 – $700.00 (if required)
  • Property Condition Report: $85.00 (if required)

*These fees are conditionally waived. If the account is closed before the fifth anniversary of the opening date, the waiver will be revoked and the fees will be added to the outstanding balance that must be paid in order to release the collateral.

On approval of credit. Maximum loan amount and/or cumulative loan to value are subject to underwriting guidelines and credit information. Property insurance required. Based on an acceptable tax assessment and/or appraisal at the discretion of PCFCU. *Subject to ownership as your primary residence and loan is maintained on an as agreed basis. **Some limitations apply. Some fees may apply if loan is terminated by either party within 5 years of origination. Appraisal fee may be required for non-conforming loan requests. ***Annual Percentage Rate = APR. Rates subject to change. Interest rate adjusted monthly, rate floor of 5% APR. Rates equal to the Prime Rate (“Index”) as published in the Money Rates section of the Wall Street Journal.

Fixed Rate Home Equity Loans

Special projects, unexpected expenses, or one-time opportunities may mean you need a financial resource with fixed payments, rates, and terms. With fixed rates and terms at competitive levels, many homeowners consider this to be a great financial resource.

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On approval of credit. Maximum loan amount and/or cumulative loan to value are subject to underwriting guidelines and credit information. Property insurance required. Based on an acceptable tax assessment and/or appraisal at the discretion of PCFCU.

Resources

Rates & Fees

View our current rates and fees that apply to all loans.

Apply Online

Apply for a home equity loan online, right from the comfort of your own home.

Loan Calculators

Use our suite of loan calculators to help determine loan payments and more!