Have you been dreaming of home renovations, or maybe that European vacation you’ve been planning for years? Or would you like to use your equity to pay down debts?
A 2nd mortgage from Industrial Credit Union allows you to tap into the equity you’ve built in your home for whatever your needs may be.
- Your loan stays at the Credit Union, we don’t sell our servicing
- Finance up to 80% of the appraised value of your home
- No application fee
- No prepayment/payoff penalty
|Loan rates shown here are current as of:|
|October 1, 2018|
APR = Annual Percentage Rate
Payment Example for an Adjustable Rate Mortgage (ARM): For example, on an ARM loan for $150,000 at 5.56% APR, you would make 60 fixed payments of $1,219.85, then 120 payments at the indexed rate of 3.25% – 11.35%, which might vary.
Payment Example for a Fixed Rate Mortgage: For example, on a fixed loan for $150,000 at 5.66% APR, you would make 179 fixed payments of $1,227.92, then 1 fixed payment of $1,225.57.
Payment Example for a Fixed Rate Mortgage – Home Improvement: For example, on a fixed loan for $25,000 at 8.65% APR, you would make 119 fixed payments of $288.31, then 1 fixed payment of $287.14.
|Home Equity||Interest Rate||Points||APR|
|0/5 Adjustable Rate||5.350% – 6.600%||1.00%||5.56% – 6.81%|
|15 Year Fixed||5.450% – 6.700%||1.00%||5.66% – 6.91%|
|Home Improvement||6.750% – 7.750%||1.00%||8.65% – 9.69%|