Competitive Home Equity Loans

*LTV = Loan-to-Value Rates, terms and loan-to-value (LTV) options vary based on applicant’s credit worthiness. Loan may not exceed 100% loan-to-value based on appraised value of residence. Inspire FCU is not responsible for any subordination fees charged by other lenders when refinancing. All applications subject to approval. The product is a fixed rate home equity loan or a variable rate home equity line of credit and is secured by your primary residence.

**APR = Annual Percentage Rate. Subject to credit approval. Rates quoted assume excellent borrower credit history. Your actual APR will be based on creditworthiness and income. Qualifying applicants will receive an introductory rate of 5.74% APR that will expire after 6 months and a new rate will adjust to a variable APR between 8.24% – 12.50% APR, but not to exceed 15% APR, depending on creditworthiness and Loan to Value (LTV). Intro rate eligible to borrow up to 80% of home’s value (LTV). Maximum loan amount eligibility for intro rate is $250,000. Loans greater than $250,000 will be subject to regular rate, which is based on prime rate as published in the Wall Street Journal plus/minus a margin. Existing Inspire FCU Home Equity Loans are not eligible for the introductory rate of 5.74%. Introductory rate is available to new home equity loan borrowers only. $5,000 initial draw required for Introductory rate. APR. Certain restrictions may apply to introductory rate and not all borrowers will qualify. Home Equity Line of Credit is a Variable Rate product which is based on the highest Prime Rate as published in the Money Rates Section of The Wall Street Journal in effect on the first business day of December, March, June and September of each year. (“Index”) plus or minus the margin – The Index plus or minus the margin equals the Interest Rate. Changes in the index will cause changes in the Interest Rate on the first day of January, April, July and October of each year. Interest you pay may be tax deductible. An early closure fee may apply – see Credit Union fee schedule for details. Property insurance is required for real estate secured loans. Consult a tax advisor regarding the deductibility of interest. The minimum monthly payment is $50.

*** Minimum loan amount is $50,000. If loan is under $50,000 a $400 application fee will apply. Must be a first lien on property. Maximum loan-to-value 75%. Maximum Loan Amount $250,000. If borrower receives an APR (annual percentage rate) of 6.69%, borrower will pay 60 monthly payments of $19.66 per $1,000 borrowed. Example payment does not include amounts for taxes or insurance premiums, actual payment may vary. Primary Residence only. Rates and terms are subject to creditworthiness and other factors. Advertised rate includes .25% reduction for direct deposit to Inspire FCU checking account with autopay.