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:|
|August 4, 2018|
APR = Annual Percentage Rate
Payment Example for an Adjustable Rate Mortgage (ARM): For example, on an ARM loan for $150,000 at 5.43% APR, you would make 60 fixed payments of $1,209.50, then 120 payments at the indexed rate of 3.25% – 11.22%, which might vary.
Payment Example for a Fixed Rate Mortgage: For example, on a fixed loan for $150,000 at 4.95% APR, you would make 179 fixed payments of $1,172.19, then 1 fixed payment of $1,171.97.
Payment Example for a Fixed Rate Mortgage – Home Improvement: For example, on a fixed loan for $25,000 at 7.10% APR, you would make 119 fixed payments of $269.19, then 1 fixed payment of $269.12.
|Home Equity||Interest Rate||Points||APR|
|0/5 Adjustable Rate||5.220% – 6.470%||1.00%||5.43% – 6.68%|
|15 Year Fixed||4.750% – 6.000%||1.00%||4.95% – 6.21%|
|Home Improvement||5.250% – 7.250%||1.00%||7.10% – 9.17%|