Home Equity

APR: Annual Percentage Rate is based on a $100,000.00 loan amount, unless otherwise noted. Fees vary and are due at application.

Payments do not include amounts for taxes and insurance premiums, if applicable. The actual payment obligation will be greater.

Appraisal required – appraisal fee paid by Member; LFCU must retain the first position mortgage on Home Equity Loans over 80% or a CAP of $25,000.00 total loan amount applies; LFCU must retain the first position mortgage on Home Equity Loans over 90%; all fees are covered by the borrower on Home Equity loans outside the State of Massachusetts. NON-Owner Occupied (considered COMMERCIAL) annual percentage rates are available upon request. (REQUIRES title rundown and title insurance; all fees covered by borrower ONLY).

APR: Annual Percentage Rate is based on a $100,000.00 loan amount, unless otherwise noted. Fees vary and are due at application.

Payments do not include amounts for taxes and insurance premiums, if applicable. The actual payment obligation will be greater.

Appraisal required – Appraisal fee paid by Member; LFCU must retain the first position mortgage on Home Equity Loans over 80% or a CAP of 85% or $25,000.00 total loan amount applies, whichever is higher; LFCU must retain the first position mortgage on Home Equity Loans over 85%; all fees are covered by the borrower on Home Equity loans outside the State of Massachusetts.. NON-Owner Occupied (considered COMMERCIAL) annual percentage rates are available upon request. (REQUIRES title rundown and title insurance; all fees covered by borrower ONLY).

APR: Annual Percentage Rate is based on a $100,000.00 loan amount, unless otherwise noted. Rate is variable.

Fees vary and are due at application. Owner-Occupied: Ceiling not to exceed 18.00%; floor not to fall below 4.000%.

Home Equity Policy: Up to a maximum 90% Loan to Value (LTV). HELOC Policy: (10) Year Draw Period / (10) Year Repay Period.

Prime Rate: 8.500%. Exceptions to maximum amount are reviewed/approved by CEO based on member relationship.

**Certified appraisal required – appraisal fee paid by member; LFCU must retain the first position mortgage on HELOC’s over 80% or a CAP of $25,000.00 total HELOC amount applies; all fees covered by borrower on Home Equity loans outside the State of Massachusetts.

Appraisal Fee: Varies. Annual Fee: $50.00. Estimate of third-party fees: $110.25 Discharge Fee. Property insurance will be required.

The minimum monthly payment during the draw period will equal the following: The amount of accrued finance charges on the last day of the billing cycle and will be rounded to the nearest $.01. The minimum monthly payment during the draw period will not reduce the principal that is outstanding on your line of credit. After the draw period ends you will no longer be able to obtain credit advances and must pay the outstanding balance of your line of credit (the “repayment period.”) During the repayment period, payments will be due monthly. The minimum monthly payment will equal the following: The amount of accrued finance charges plus 1/120th of the principal balance outstanding on the last day of the billing cycle, for the last billing cycle in which an advance was made. The minimum payment amount will be rounded to the nearest $.01. The minimum monthly payments may not be sufficient to fully repay the principal that is outstanding on your line of credit by the end of the repayment period. If they are not, you will then be required to pay the entire balance in a single payment. The savings for the HELOC loans is based on lowest available Credit Union APR and assumes your balance remains constant for one year.