Home Equity Loans and Lines of Credit
A HELOC for home improvements!
Turn your basement into a guest suite. Create a kitchen worthy of a chef. Help fund that dream vacation you’ve always wanted. Whatever you call adventure, we can help make it affordable. Finance now at reduced rates. Offer extended through June 30, 2017.
- Borrow up to 100% of your home’s equity
- Low monthly payments
- The interest you pay may be tax-deductible (Consult your tax advisor)
- No closing costs for non-escrowed lines up to $100k
*APR=Annual Percentage Rate. APRs accurate as of January 1, 2017. Introductory APR is fixed for the first six (6) months of your newly opened Home Equity Line of Credit (HELOC). Introductory APR available for HELOCs applied for and originated by June 30, 2017. Existing Columbia CU Home Equity Lines of Credit (HELOCs) are not eligible for this promotion. Introductory APR is available only on primary residences. Non introductory APRs are variable and are based on the Wall Street Journal Prime Rate (as quoted on the 10th business day before the end of the preceding quarter) plus a margin ranging from 0.75%-2.00% depending on your creditworthiness and loan-to-value. The minimum lifetime APR is 4.00% and the maximum lifetime APR is 15.00%. No annual fee the first year, thereafter $50. Typical closing costs range from $90-$1,050 and $400 (other than appraisal, if required) is waived. Good news! If your line is $100k or less and you’re not paying off an existing lien (like a 2nd or HELOC elsewhere), your new Columbia CU HELOC will likely have no closing costs! Columbia CU HELOCs are subject to application and credit approval. Please consult your tax advisor regarding tax deductibility of interest and charges. Homeowner’s insurance is required. Introductory APR offer is subject to change and may end without notice. Membership required to borrow.
Fixed Home Equity Loan
This type of loan, also known as a 2nd mortgage, is great for projects when you know exactly how much money you need. You will receive funds in one lump sum, and enjoy the comfort of knowing your rate will remain the same throughout your loan. Terms up to 15 years are available.
*Consult with your tax advisor.