Home Equity Loans & Lines of Credit | Healthcare Financial FCU (New Haven, CT)

Home Equity

Fixed Rate Home Equity Loan

One of the benefits of owning your home is to gain access to cash with a Home Equity Loan.

  • 5, 10, or 15 year terms*
  • $10,000 - $250,000
  • Up to 85% of the equity you have in your home, less current mortgage balance
  • No application fees, closing costs, points, or prepayment penalty
  • Possible tax advantages (please consult with your tax professional)

*Terms of Repayment Example: 60 monthly payments of $18.41 per $1,000 borrowed at 3.99% APR**
**Annual Percentage Rate
Please Note: Above stated Repayment Example payment does not include amounts for taxes and insurance premiums. If applicable, the actual payment obligation will be greater.

Apply Now

Rates accurate as of 04/19/2021

For more information, contact the Lending Department or visit our Payment Protection page here.

Healthcare Financial FCU offers discounts on top-notch insurance coverage for your home equity and more. Learn more and protect your most valuable assets.

Home Equity Line of Credit

A Home Equity Line of Credit (HELOC) is a real estate loan secured by the members’ principle residence.

The following are the current rates:

  • Introductory Rate for all Risk Based Scores – 2.99% APR* for 6 months
  • This introductory rate can be reviewed or eliminated at any time
  • After 6 months – Risk Based Lending Rates Apply.
  • Rate is based on current Wall Street Journal Prime Rate plus a margin
    • Margins range from 0.25%APR* to 1.25%APR* depending on credit worthiness

Features

  • Open-end variable rate loan
  • Maximum LTV – 80%
  • $10,000 - $150,000
  • Primary residence only - 1-4 family or condominium – CT properties only
  • No fees
  • No points
  • No closing fees (third party fees will be paid if line closed within two years)
  • No prepayment penalty
  • Rate is based on Wall Street Journal Prime Rate
  • Interest rate – Risk based
  • Monthly interest rate cycle
  • 5 year draw period with 15 year amortization (total 20 years maximum)
  • Initial advance $1,000 – minimum subsequent advances $500
  • Interest Rate Maximum – 18% APR*
  • Interest Rate Minimum – 3% APR*
  • No periodic cap
  • Property insurance required
Apply Now

APR = Annual Percentage Rate

Rates accurate as of 04/19/2021

For more information, contact the Lending Department.

 

Go to Top