Loans
: Home Equity
If you need extra cash, why not look to the very place that makes
you feel most secure and comfortable --- Your Home!
Since you've been making your mortgage payments faithfully over
the years, your home has become one of your greatest assets...
and one of your best sources for financing when you need extra
cash.
With a Home Equity Loan you'll enjoy a ready cash reserve that
is available whenever you need it. Use as much as you want, when
you want -- best of all, you pay interest only on what you borrow.
Now, that's a safe, secure, and comfortable way to borrow!
So go ahead...add a deck and pool, fix that leaky roof, finance
your children's education, consolidate high-interest credit cards
into one low-cost bill, and much more -- you have the home advantage..you
have a Home Equity Loan from Tempe Schools Credit Union!
Just take a look at what TSCU's Home Equity Loan offers you:
- TSCU's Home Equity Loan is actually a revolving line of
credit.
- You can borrow up to 90% of your equity.
- Up to 20 years to repay.
- No pre-payment penalties.
Second Mortgages:
- Fixed Rate
- Repayment terms of 15 year amortization with a 7 year balloon
payment.
- No pre-payment penalties
- Borrow up to 90% loan to value
All of these loans may be tax deductible. Check with your tax
advisor for more information. Call 480-967-9475 for current rates and for more information.
Tempe Schools Credit Union will loan up to 80% of the value of your home and property. Payments listed below include principal and interest only. Rates subject to change without notice. Phone 480-967-9475 for current rates. 7.50% Annual Percentage Rate / 15 Year Term = 180 Monthly Payments of $12.54 per $1,000 borrowed.
HELOC's have a 10 year draw period
followed by a 10 year repayment period with minimum payments
required of the lesser of 1.25% of balance or $125 per month.
Payments may include principal and interest. HELOC loans contain
a variable rate feature and the annual percentage rate may change
as a result. If the annual percentage rate increases, you may
make more payments and higher payments. The minimum Annual Percentage
Rate for an 80% LTV loan will never be less than 4.00%. The
minimum Annual Percentage Rate for a 90% LTV loan will never
be less than 5.00%. Maximum loan rate will not exceed 18% APR.
Closed end second mortgage product has a maximum 15 year amortization
with a 7 year balloon. However, if the loan amount is less than
or equalt to $30,000, then the term is reduced to 7 years, no
balloon, same rates apply. All loans subject to credit approval.
Rates subject to change, additional terms and conditions, fees
and charges, may apply.
Equal Opportunity Lender. Please ask TSCU Rep. for VISA disclosure.
The Federal Equal Credit Opportunity Act prohibits credit unions from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age, or because all or part of the applicant's income derives from any public assistance program.