Borrow against the equity of your home to finance large projects or purchases.
Ways to use your Home’s Equity:
- Home Improvements
- Debt Consolidation
- Medical Bills
USE YOUR HOME EQUITY LIKE A PRO
HOME EQUITY LINE OF CREDIT (HELOC)
HOME EQUITY LOAN
Works like a credit card, with a limit based on your home’s equity. Draw funds as needed.
HOW IT WORKS
Works like a mortgage, with a loan amount based on your home’s equity. Get funds as one lump sum.
Variable payments of
principal and interest.
HOW YOU REPAY
Fixed payments of principal and interest.
Major Home Renovations
Variable rate as low as
(Fixed for first 12 mo.)
(Current variable rate)
Fixed rate as low as
*APR=Annual Percentage Rate. Rates subject to credit and amount of equity in your home. Home Equity Lines of Credit (HELOC’s) or Home Equity Loans are available for primary residences located in Nebraska or Pottawattamie County, in Iowa. Rates, terms and conditions are subject to change and may vary based on creditworthiness, qualifications and collateral conditions. Other restrictions may apply. All loans subject to approval. The actual amount of your line/loan will be determined by the amount of equity in collateral. Applicants are responsible for cost of appraisal, if required. The closing costs depend on the location of the property and the amount of the equity line/loan. For lines/loans up to $100,000, closing costs typically range between $225 and $1,000. Property Insurance is required. Consult your tax advisor for deductibility of Interest. You must be a member of the Credit Union to obtain a loan. There is a $5.00 minimum balance required in your share savings when you become a member. Interest accrues from the date of funding. Election of 90-day first payment due date may increase finance charges. Offer is valid for new loans only and is not available on refinances of existing FNCU loans. Rates as of 10/1/2021.
1) HELOC: Premier HELOC’s are variable rate products and the APR may change. The APR is based on the Wall Street Journal Prime, which is currently at 3.25%. The APR is subject to change semi-annually on January 1 and July 1, based on most recent index available 10 days before the date of APR adjustment. Rate cannot increase or decrease more than 2% in any one year except after 12 month discounted period. The APR for 80% CLTV is Prime Rate + 0% margin. The minimum rate is 3.99%, unless discounted for the first 12 months. Qualifications for 12 month discounted rate based on CLTV and credit score. The maximum APR that can apply is 9.50%. Payments based on 1.50% of the outstanding balance at the end of statement cycle or $25 whichever is greater. Interest is charged from the date of loan advance and is calculated on the balance owed each day. Minimum payment may not repay principal which will result in a balloon payment at the end of the repay period. At the end of the 120 month draw period, loan enters a repayment period up to 120 months.
2) HOME EQUITY: Payment Example: For a $25,000 dwelling secured loan for a term of 60 months at 2.99% APR, the monthly payment will be $448.81. All payments calculated with loan-to-value of 80%. Rates are higher for LTV over 80% or terms greater than 60 months. Terms up to 180 available. Must have FNCU checking account with direct deposit and automatic loan payment. Members without a checking account, direct deposit and automatic loan payment may receive a slightly higher rate (.25%). Payment example does not include amounts for taxes and insurance premiums, if applicable, the actual payment obligation will be greater. Limited time offer.