Home Equity Loans and Lines of Credit

Rates effective as of

Home Equity Lines of Credit
Loan Amount APR¹ Term Loan to Value Closing Costs
$20,000 to $400,000 2.99% for 12 months; then converts to Prime Rate Up to 25 years:
up to 10 years to draw from the line;
up to 15 years to repay the line
Up to 80% of home's value minus first mortgage and any other liens WAIVED²

Rates effective as of

Home Equity Fixed-Rate Loans
Loan Amount APR³ Term Loan to Value Closing Costs
$20,000 to $400,000 4.49% 120 Months Up to 80% of home’s value minus first mortgage and any other liens WAIVED²
$20,000 to $400,000 4.99% 180 Months Up to 80% of home’s value minus first mortgage and any other liens WAIVED²
$20,000 to $400,000 5.49% 240 Months Up to 80% of home’s value minus first mortgage and any other liens WAIVED²

¹APR = Annual Percentage Rate. The introductory rate of 2.99% is fixed for the first twelve (12) months. Thereafter, the rate will convert to the current Prime Rate as published in the Wall Street Journal with a floor of 3.25% APR and a ceiling of 18.00% APR. Rate will be reviewed semi-annually on June 30th and December 31st. On those dates, rate may be adjusted if applicable. This offer is valid for new Home Equity Lines of Credit only. This offer may be withdrawn or changed without notice at any time. Member eligibility required.

²Applicant will pay no closing costs, provided the loan remains outstanding for at least three (3) years of the loan’s closing date. If the loan is paid in full and closed prior to that three-year period, the loan’s closing costs that had been paid by Mills42 FCU will be added to the final loan payoff amount.

³APR = Annual Percentage Rate. Rates listed reflect a 1.00% APR discount for account relationship pricing. To qualify for this discount, one of the following is required: 1) An active Mills42 FCU checking account with a minimum of twenty (20) debit card transactions monthly or eight (8) electronic debit/credit transactions monthly. Maintaining a qualifying Rewards Checking Account will also satisfy this requirement. 2) Direct Deposit to pay loan (automatic distribution of direct deposit to satisfy monthly loan payments). 3) An existing loan with Mills42 that has a current balance (excludes VISA Credit Card and overdraft protection). All rates and fees are subject to change without notice. Some restrictions may apply. Member eligibility is required.