Make it Your Style.
With a Home Equity Line of Credit
Great Rates as Low as 3.750% APR*
A Home Equity Line of Credit (HELOC) can be an easy way to finance your needed home improvement project. Apply now through July 31, 2020 and pay no closing costs** with a new HELOC with an initial draw of $10,000 or more. At Directions Credit Union you never have an annual fee and all approvals and servicing are done locally.
Other benefits include:
- Apply online or through our online loan application
- Great low rates
- Finance up to 90% of your home's value
- Low closing costs and processing fees
- Advances can be obtained during the first 5 years
- Payment term is 10 years
- No prepayment penalty
- Rate will not increase more than 2% each year and not more than 6% over the term of the loan
Your New Kitchen Could Be Closer Than You Think.
Interested in a fixed home equity loan vs. a line of credit?
*APR = Annual Percentage Rate. Rate stated is for loan-to-value (LTV) ratios up to 80%. Other rates and ratios available. The rate will not increase more than 2% each year and not exceed 6% over the original rate during the term of the loan. Maximum interest rate is 21%. The APR is based on an index, the Prime Rate per The Wall Street Journal, and is current as of 3/5/20 and could change based on market conditions and borrower eligibility. HELOC’s with an LTV up to 80% will have a rate of the current Prime Rate minus .50%. HELOC’s with an LTV of 81% to 90% will have a rate of the current Prime Rate plus 0.0%. The minimum loan amount is $5,000. The maximum loan amount is determined by the equity in your home, based on appraised value. Appraisals may be required. HELOC loan amounts cannot exceed 90% of your value, including your first mortgage balance. Loans are limited to owner-occupied, one-to-four family principal residences and are subject to our underwriting standards. Eligibility based on creditworthiness, proof of income, and collateral. Please consult a tax advisor for deductibility. Property insurance is required. **The maximum loan amount for this offer is $100,000. This offer is available for applications completed by 7/31/20.