Those extra dollars mean bigger dreams
With our lower rates, you'll have more to work with
This is the moment. You're ready to build something or buy something or do something special. At Excite Credit Union, we want you to be able to go all-in on that vision. So we set our rates for Home Equity Loans and Lines of Credit as low as possible. At the end of the day, that's less money for you to repay and more for you to use to get things done exactly the way you want.
Home Equity Line of Credit
|Description||APR||Application Fee||Closing Costs|
|Loan to Value (LTV) varies||Intro rate as low as 2.99% APR*||None||Yes|
*APR=Annual Percentage Rate. HELOC Introductory Rate will apply to any amount drawn up to the approved credit limit during the first 12 months from date of loan funding. After the 12 month period expires the floor rate will never be less than the WSJ Index + Margin @ Origination and the rate will be Variable based on the WSJ Prime + the Margin that was set at origination. Rates subject to change without notice.
The minimum home equity credit line is $12,000 and the maximum is $250,000. The minimum payment will equal interest only during the 15 year draw period. After the 15 years, the draw period will close and further advances will not be available. The loan will then be recalculated to pay the loan off in an additional 15 years. Rate assigned depends on loan-to-value ratio on property and creditworthiness of borrower. APR is variable. Maximum lifetime variable APR on all lines of credit is 18%. We may have paid third party fees on your behalf ranging from $0-$1,000. We will charge you for reimbursement of any fees paid on your behalf if you close the plan within 36 months of opening. Applies to all loans in CA but only loan amounts exceeding $150,000 in NC. Borrower to pay appraisal fee, if an appraisal is needed.
Our Home Equity Line of Credit is a variable rate line of credit tied to the Prime Rate as published in the Wall Street Journal. We will use the most recent index available to us as of the most recent business day and onto which we add our margin.
Excite Credit Union is a full-service credit union with locations in San Jose, CA, Sunnyvale, CA, and Wilmington, NC.