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Consider a PrimeWay Federal Credit Union home equity line of credit and take advantage of the value you’ve added to your home. You’ve spent countless hours turning your house into a home over the years. Maybe your family has grown in size during that time and you need to add on to your home. Maybe there are new costs on the horizon such as college or a wedding. Maybe you just want to spruce up your kitchen or bathroom.

NOW OFFERING HOME EQUITY LINE OF CREDIT (HELOC)

Six Month Intro Rate

Thereafter, Rates As Low As

1.99% APR*

5.5% APR*

What is a Home Equity Line of Credit (HELOC)?

A home equity line of credit is when you can repeatedly draw and repay from a pre-established credit line based upon the available equity in your home. Equity is the remaining value after you subtract any outstanding loan balance from the home’s market value.

For example, you have a home with a market value of $400,000 mortgage and with an existing remaining balance of $200,000. The amount of equity you have in your home is $200,000. You may be able to borrow against the equity in your home.

Take advantage of the equity that you have built in your home:

  • Consolidate all of your bills
  • Pay off high-interest credit card debt
  • Purchase a new automobile
  • Pay for a child’s college education
  • Help pay for elderly care

PrimeWay also offers other loans for every need in your life:

 

 

 

 

Credit Cards

 

 

 

 

Auto Loans

 

 

 

 

Mortgage Loans

 

 

 

 

Secured Loans

*APR = Annual Percentage Rate. 1.99% APR is an introductory rate for the first six months of the loan. After the introductory period, the loan will have a variable rate APR based on the value of an index. The index is the Wall Street Journal’s Prime Rate. The current fully index rate is as low as 5.50% APR. The rate will never go below 4% APR or above 18% APR. There is a 5-year draw period with interest-only payments. 15-year repayment period with substantially equal monthly payments. Minimum credit advance amount is $4,000. Up to 80% combined LTV. Subject to credit approval. There are a $500 Application Fee and up to $740 for closing cost. Other terms, fees, and restrictions may apply. Acceptable property hazard insurance is required, as well as Flood Insurance if the property is in a designated flood zone. Offer subject to change without notice. Not valid with any other offers.