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Home Equity LoansHOME EQUITY LOANWe offer balloons that can be amortized up to twenty years with closing costs starting as low as $139.00.HOME EQUITY LINE OF CREDIT (HELOC)The home equity line of credit is a flexible, revolving account using the equity in your primary residence as collateral. Once your line is established, you may advance up to your approved limit at any time for any purpose you wish, without having to go through the application process each time. As you make payments on your line, the principal you repay becomes available for you to advance again. The interest rate on this account is variable at 1% over prime and adjusts quarterly. There is no annual fee on this account. Closing costs for the line of credit are typically less than $150.00 and are paid when the line is established. The required monthly payment is calculated at 2% of the outstanding balance at the end of each month. The maximum credit line available is 80% of the market value of your home, less the principal balance outstanding on your first mortgage loan (if any). Contact Our Lending Department Co-Operative Credit Union has staff available Monday thru Friday 9:00a.m. to 5:00p.m. and Saturday 9:00a.m. to 1:00p.m. to answer any questions you may have regarding Home Equity Loans. Feel free to contact us during those hours to help answer any questions you may have regarding financing. You can email us at lending@thebettercu.com, call us at (262) 884-8933 and (262) 763-8441, or stop into one of our convenient locations in Racine and Burlington. Click here to get directions and other contact information. |
