Annual Percentage Rates (APRs) are effective as of November 1, 2018, and are subject to change.
Home Equity Line of Credit Rates6
|Loan to Value²||Margin||APR|
|Up to 80%||-0.75%||4.50%|
5, 10, 15, 20 Year Home Equity Loan Rates¹
|5 Years||Up to 80%||4.10%|
|10 Years||Up to 80%||4.35%|
|15 Years||Up to 80%||4.60%|
|20 Years||Up to 80%||5.10%|
|5 Years||80.01% to 100%||6.60%|
|10 Years||80.01% to 100%||6.85%|
|15 Years||80.01% to 100%||7.10%|
1. Home Equity loan rates shown are for loans secured by a member’s primary residence. Single family owner occupied vacation properties have a maximum LTV of 80%. Rates and terms vary for loans secured by other types of property. The stated rates for loans up to 80% LTV reflect a ¼% discount with automatic payment from an active PFFCU Checking Account or distribution from a payroll check automatically deposited with PFFCU and are SUBJECT TO CHANGE WITHOUT NOTICE. Loans exceeding 80% LTV require automatic payment and are not eligible for discount in APR.
2. 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. For LTV ratios of 80.01% – 100% the maximum PFFCU home equity loan amount is $50,000. For investment property LTV ratios of up 70% the maximum PFFCU Home Equity Loan amount is $200,000.
3. Advertised APRs do not reflect all possible rates. Your rate will depend upon your Loan-To-Value ratio (LTV), the term of the loan, the loan amount and credit score.
4. To compute the monthly payment for a specific borrowed amount, multiply the “per $1,000 payment factor” by the number of thousand dollars borrowed. For example, if you borrow $30,000, multiply 30 by the figure specified next to the specific loan product.
5. Home Equity Loan rates shown are for loans secured by a member’s Non-Owner Occupied/Investment properties. Non-Owner Occupied investment properties have a maximum LTV of 70%. The stated rates for loans up to 70% reflect a 1/4% discount with automatic payment from an active PFFCU Checking Account or distribution from a payroll check automatically deposited with PFFCU and are SUBJECT TO CHANGE WITHOUT NOTICE. Automatic payment required for investment property loans.
6. Home Equity Line of Credit rate reflects ¼% discount with automatic payment from an active PFFCU Checking Account or distribution from a payroll check automatically deposited with PFFCU, will vary with the Market based on the Prime Rate, may adjust monthly, and is SUBJECT TO CHANGE WITHOUT NOTICE. The maximum Annual Percentage Rate that we may impose will not exceed that permitted to be charged by a federally chartered credit union, which at the time of this disclosure is 18.00%. The minimum APR that can apply during the term of this Line of Credit is 2.99%. The current Prime Rate is 5.25%, as of 10/17/2018. APR=Prime Rate – Margin. A Home Equity Line of Credit is a secured loan using your primary residence as collateral.