Home Equity Line of Credit
Let your home work for you. Use the current equity you have built in your home for a line of credit of up to 100% of your home’s value that can be used for:
- home repairs
- remodeling
- unexpected emergencies
- consolidate other debts
- education
- a special vacation
- or any thing you desire!
You have quick access to your funds, with minimum draw amounts of $1,000. Withdraw as little or as much as you need from your line of credit and interest is charged only on the balance owed of the line. Interest on this loan may be tax deductible (check with your tax advisor for specifics). Pay your balance down and re-borrow without a new loan application.
Home Equity Loans
Maybe you need to use the equity in your home but only want a fixed amount that will be repaid over a specific time. Then this loan might be for you. Use it for any of the purposes above but the loan is taken out as a one time advance with fixed payments over a fixed term. This loan may also be tax deductible but check with your tax advisor for specifics.
Property must be single family residences only. CUA pays the direct loan costs and member pays .50% origination fee ($100 minimum) and appraisal and/or title policy if required to qualify the loan. Up to 90% of the loan to value of the property. Over 90% LTV add 1% to the current APR. Loan terms based on credit worthiness of the borrower.
