Home Equity Programs

Apply for a Home Equity Loan

Have rates dropped since you purchased your home, or do you have a need to utilize the equity you’ve accumulated? Home equity loans and lines of credit allow you to access the equity in your home and receive a possible tax break.** Plus, there are no  prepayment penalties. Find a full array of financing options available with ACU.

Home Equity Loan

  • Borrow one lump sum with fixed payments and rates for the term of the loan
  • Best if you: Know exactly how much money you need to borrow and want a consistent rate and payment
  • Rate Type: Fixed
  • Terms: 5 to 15 years
  • Access to Funds: Disbursed in a lump sum at closing
  • Borrowing Limits: Up to 80% of your home’s value for owner occupied
  • Fees: No Fees, *Appraisal may be ordered if requested by borrower. Appraisal cost ($775-$1,000) will be paid by borrower

Home Equity Line of Credit (HELOC)

  • Borrow and pay back money as you need it
  • Best if you: Don’t know how much you need and want flexibility in your borrowing amount
  • Rate Type: Variable
  • Terms: 10 year draw period with a 10 year repayment
  • Payment Amount: 1% of the outstanding balance at the end of the month
  • Access to Funds: Branch, transfer, online banking, cashier’s checks
  • Borrowing Limits: Up to 80% of your home’s value for owner occupied
  • Fees: No Fees, *Appraisal may be ordered if requested by borrower. Appraisal cost ($775-$1,000) will be paid by borrower

Contact our Mortgage Experts!

1495 Wilmington Drive, Suite 180

DuPont, WA 98327

Phone: 253.591.6871

mortgageemail@youracu.org

 

Annual Percentage Rates, terms, and conditions offered are subject to change without notice. Limited to one to four family units. Property must be in the state of Washington, Oregon or Idaho. Property insurance required. Values based on current tax assessment or Automated Value.ACU will pay the closing costs on new Equity Loan applications (Fixed-Rate Equity Loans and Home Equity Lines of Credit), including, but not limited to, flood determination fee, title search, credit report, property condition report, and recording fees. Should the loan be paid off and closed within 36 months from the anniversary date of the loan closing, the member may be obligated to reimburse the full amount of the ACU paid closing costs for the loan.

*Appraisal may be ordered if requested by borrower. Appraisal cost ($775-$1,000) will be paid by borrower.

**Consult your tax advisor.

***APR- Annual Percentage Rate. Subject to credit and DTI approval. All offers, rates, terms and conditions are subject to change at any time and without notice. Regular HELOC rate ranges from 4.00% – 6.25% after introductory rate and is based on credit worthiness.