Put the equity in your home to work for you
Chesterfield Federal Credit Union is proud to offer the convenience of our Home Equity Line of Credit. With a quick application, a fast and easy approval process, a variety of payment options and great rates, Chesterfield Federal Credit Union is the only place you need to go when considering a Home Equity Line of Credit.
Why A Home Equity Product?
You can use the proceeds from your Home Equity Line of Credit for:
- Debt Consolidation
- Home Improvements
- School Expenses
- Tax Payments
- Much more!
Whatever your reason may be, a Financial Services Representative is always willing to sit down with you and discuss which products are best suited for
your specific needs.
Save money on interest
Chesterfield Federal Credit Union's Home Equity Line of Credit can save you money on interest charges too! Because the loan is secured by the collateral in your home, the interest rates on our product is much lower than many other loans. And the interest you pay may even be tax deductible!^ And that means more money in your wallet!
Home Equity Line of Credit Benefits
- Variable rate as low as 3.75% APR
- Interest may be tax deductible^
- Protected payments. Even if your rate goes up, your payment will not
- Your rate only changes annually
- No closing costs
- Local decisions & local servicing
- Financing available for up to 80% of the available equity in your home
- If your loan is paid off or line of credit is closed within 2 years, you may be responsible for closing costs paid by Chesterfield Federal Credit Union
Don't wait until rates are rising. Apply now for your home equity line of credit.
^ Check with your tax adviser.
Effective Jan 1, 2017
|Home Equity Line of Credit #
Payment for a Home Equity Line of Credit is 1.50% of the balance at the time of advance.
* Annual Percentage Rate. Lowest APR available with qualifying credit. Your rate may be higher and is based on credit score. Member must maintain homeowner's insurance at own expense.
# Rate is as low as Prime+.50%. The initial rate is tied to the Prime rate as published in the Wall Street Journal. The rate is variable and may change at annually on the anniversary of your line of credit. Your rate may vary from that shown above and is based on creditworthiness. This is a variable rate line of credit and as such, the rate may change over the life of the line. Consult us for details. The maximum APR on this loan is 6% above the entry rate or 18%, whichever is lower. Equity based on 80% of assessed value less first mortgage balance. Subject to credit approval. Minimum line $5,000.00. Maximum line $100,000.00. There are no closing costs with this loan.