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Rates as of September 10, 2008
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Home Equity Line of Credit
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| Credit Score |
APR |
| 750+ |
4.25% |
| 720 - 749 |
4.50% |
| 700 - 719 |
4.75% |
| 680 - 699 |
5.00% |
| 650 - 679 |
5.25% |
| 600 - 649 |
5.50% |
| <599 |
6.00% |
* APR-Annual Percentage Rate is subject to change without notice. Other terms and conditions apply please contact a member representative for details.
The minimum home equity credit line is $10,000 and the maximum is $350,000. The minimum payment will equal .75% of the balance or $75.00 during the 10 year draw period. After the 10 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 up to an additional 20 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%.
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Fixed Home Equity Loan
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120 Months |
180 Months |
240 Months |
| Credit Score |
APR |
APR |
APR |
| 750+ |
5.75% |
6.75% |
7.75% |
| 720 - 749 |
6.00% |
7.00% |
8.00% |
| 700 - 719 |
6.50% |
7.50% |
8.50% |
| 680 - 699 |
6.75% |
7.75% |
8.75% |
| 650 - 679 |
7.25% |
8.25% |
9.25% |
| 600 - 649 |
7.75% |
8.75% |
9.75% |
| <599 |
9.25% |
10.25% |
11.25% |
* APR-Annual Percentage Rate is subject to change without notice. Other terms and conditions apply please contact a member representative for details.
Notes for LRRCU Home Equity Line of Credit and Fixed Home Equity Loans:
Property must be the member's single family, owner occupied primary residence. Ask Lancaster Red Rose Credit Union for more details on variable equity lines and fixed-rate home equity loans. Consult your tax advisor about deductibility of interest.
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Fixed Home Equity Loan –
Investment Property
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120 Months |
180 Months |
240 Months |
| Credit Score |
APR |
APR |
APR |
| 750+ |
7.00% |
8.00% |
9.00% |
| 720 - 749 |
7.25% |
8.25% |
9.25% |
| 700 - 719 |
7.75% |
8.75% |
9.75% |
| 680 - 699 |
8.00% |
9.00% |
10.00% |
| 650 - 679 |
8.50% |
9.50% |
10.50% |
| 600 - 649 |
9.00% |
10.00% |
11.00% |
| <599 |
10.50% |
11.50% |
12.50% |
* APR-Annual Percentage Rate is subject to change without notice. Other terms and conditions apply please contact a member representative for details.
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