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Telephone:
410-368-3125

  

Home Equity Loans

If you own your home, chances are you have built a lot of equity. Using the equity in your home can be one of the smartest ways to borrow because the interest on the loan may be tax deductible.* Rates are very competitive and there are options for no closing costs.

Home Equity Line of Credit

Loan Amount 80% of appraised value less first mortgage/Maximum - $150,000
Minimum - $10,000
Rate Prime rate PLUS 1/4%**
Minimum - 3% Maximum - 18%
Draw Period 15 years (access with home equity checks)
First Advance - $2,500 minimum / $500 increments thereafter
Closing Costs Credit union will pay closing costs. Minimum loan term is two years or reimbursement of closing cost are due to credit union.
Appraisal Fee $100
Processing Time 3 - 4 weeks


Closed-End Home Equity Loan

Loan Amount 80% of appraised value less first mortgage/Maximum - $150,000
Minimum - $10,000
Rate 5 year - as low as ***3.50% APR
10 year - as low as ***5.00% APR
15 year - as low as ***5.50% APR
Closing Costs Credit union will pay closing costs. Minimum loan term is two years or reimbursement of closing cost are due to credit union.
Appraisal Fee $100
Processing Time 3 - 4 weeks

*Please consult your tax advisor for the deductibility of interest in your particular situation.
**Prime rate as published on www.moneycafe.com. The equity loan rate is subject to change on the first day of the quarter (January, April, July & October) following a change in the prime rate.
*** Rates quoted are the lowest available ("as low as"). Actual rate may differ and depends on the applicant's and/or credit applicant's credit history.

How to Apply

Members may apply for a loan as soon as membership is established. Loans are available to members who are in good standing with the credit union; approval is based on credit history and debt-to-income ratio. Submit an application with your two most recent paystubs...applying couldn't be easier! Stop by our Saint Agnes Hospital branch and speak to our Loan Officer. Or call 410-368-3227 during banking hours or our "Anytime" loan application service, 24-hours a day, seven days a week at 1-888-273-SACU (7228), or apply online.

 
 
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