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:|
|February 1, 2019|
APR = Annual Percentage Rate
Payment Example for an Adjustable Rate Mortgage (ARM): For example, on an ARM loan for $150,000 at 5.31% APR, you would make 60 fixed payments of $1,199.67, then 120 payments at the indexed rate of 3.25% – 11.10%, which might vary.
Payment Example for a Fixed Rate Mortgage: For example, on a fixed loan for $150,000 at 5.94% APR, you would make 179 fixed payments of $1,250.50, then 1 fixed payment of $1,250.20.
Payment Example for a Fixed Rate Mortgage – Home Improvement: For example, on a fixed loan for $25,000 at 7.74% APR, you would make 119 fixed payments of $291.92, then 1 fixed payment of $291.20.
|Home Equity||Interest Rate||Points||APR|
|0/5 Adjustable Rate||5.100% – 6.350%||1.00%||5.31% – 6.56%|
|15 Year Fixed||5.730% – 6.980%||1.00%||5.94% – 7.20%|
|Home Improvement||7.030% – 8.030%||1.00%||7.74% – 8.75%|