Equity
Visa Gold Loans
This
loan is secured with the equity in your home. It allows
you to borrow against the equity in your home, usually at
a lower interest rate than a consumer loan. You must be
18 years of age or older, meet SPCU's loan qualification
criteria and are able to offer a home as security for the
loan. Some tax advantages may apply to your home equity
loan. You may be able to deduct interest paid (check with
your tax attorney or accountant).
Many
consumers consolidate high interest credit cards and unsecured
loans into a Home Equity Loan to reduce monthly payments,
interest paid, and to take advantage of huge tax savings.
Others use this line of credit to finance their children's
college costs or purchase a new vehicle.
Features
of the Equity Visa Gold loan are:
- Line
of credit with easy access through a VISA GOLD card and
convenience checks
- 2%
annual cap and lifetime loan rate cap of 14.0% APR
- Variable
interest rate changes 2 times per year
- Introductory
low rate of 4.50% APR during the six month intro period
- You
may borrow up to 95% of your appraised value less any
1st mortgage balance or other liens
- Revolving
line of credit
- NO
appraisal or application fee - pay only escrow & $25
flood fee
- Minimum
line of credit is $10,000, Maximum line of credit $150,000
- Monthly
low payments equal to 1.50% of your balance, min of $50
Apply
for an Equity Visa Gold loan today!
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Point Credit Union
. All Rights Reserved.
