PFFCU's
interest only Home Equity Line of Credit (HELOC) is a variable
rate product that allows
you to borrow up to $600,000 of the available equity in your home.
HELOCs can be used for expenses such as home improvements, education,
a vacation, or even a down payment for a second home. Finance a major
purchase or consolidate your debt into one easy payment. Pay as little
as $100 a month depending on your loan amount and still have fast
and easy access to the funds you need, when you need them. Be prepared
for what life presents and apply for a HELOC today! Apply
Now»
The
rate on our HELOC with an 80% or less loan-to-value ratio is equal
to the Prime rate minus .75%. The rate on our HELOC with a loan-to-value
ratio of 80.01% up to 100% is the Prime Rate plus 2.75%. (Rates shown
assume automatic payment. Click
here for current rates.) The HELOC
rate is adjusted monthly based upon the Prime Rate published in the
Wall Street Journal as of the 15th of the month. A Home Equity Line
of Credit is a secured loan using your primary residence as collateral.
Your payment depends on how much of your line amount you use and
is based upon a 15-year amortization schedule.*
If you are interested in a Home Equity Line of Credit, you may apply
online or give us a call at 215/ 931-0300 or 800/ 228-8801. If you
are interested in fixed rate financing, our Home Equity Loan may
be just right for you.
How Loan To Value (LTV) ratio is Calculated
LTV is calculated based upon your loan amount plus any outstanding
liens. This combined amount is divided by the appraised value of
your home. The resulting ratio will be a factor in determining
your interest rate and how much you can borrow.
*Subject to minimum payment requirements. |
