Home Equity Loan Rates
|Loan Type||APR starting at*||APR up to*|
|Home Equity Line of Credit (HELOC) - variable APR ‡||8.74%||16.45%|
|Home Equity Loan - fixed APR †||8.24%||18.00%|
* APR = Annual Percentage RateRate shown as low as for qualified borrowers. Rate may change dependent on credit qualifications. Borrower must have approved credit and limitations may apply. Please speak with an Elevations representative for more information. The rate may vary depending on each individual's credit history and underwriting factors. All Credit Union loan programs, rates, terms and conditions are subject to change at any time without notice.
†Fixed Rate - Rate is dependent upon LTV (Loan to Value) ratio, term and credit history.
‡Variable Rate – Based on Prime Rate plus a margin that is based on your LTV (Loan to Value) Ratio and credit history.
NOTE: The maximum APR for a home equity loan is 18%. The third party fees for a home equity loan range from $105 to $2,000. The Credit Union will pay a $500 credit toward all related third party fees. (If the loan is not open for at least 2 years the fees are the responsibility of the borrower at the closing of the loan or line of credit.)Payment example: A $15,000 fixed rate loan amortized for 120 months, min credit score of 680, <80% LTV at a 10.24% equals $200.22 a month.