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:|
|December 3, 2018|
APR = Annual Percentage Rate
Payment Example for an Adjustable Rate Mortgage (ARM): For example, on an ARM loan for $150,000 at 5.50% APR, you would make 60 fixed payments of $1,215.08, then 120 payments at the indexed rate of 3.25% – 11.29%, which might vary.
Payment Example for a Fixed Rate Mortgage: For example, on a fixed loan for $150,000 at 5.85% APR, you would make 179 fixed payments of $1,243.39, then 1 fixed payment of $1,241.63.
Payment Example for a Fixed Rate Mortgage – Home Improvement: For example, on a fixed loan for $25,000 at 7.64% APR, you would make 119 fixed payments of $290.81, then 1 fixed payment of $289.25.
|Home Equity||Interest Rate||Points||APR|
|0/5 Adjustable Rate||5.290% – 6.540%||1.00%||5.50% – 6.75%|
|15 Year Fixed||5.640% – 6.890%||1.00%||5.85% – 7.11%|
|Home Improvement||6.940% – 7.940%||1.00%||7.64% – 8.66%|