Interest-Only Home Equity
Line of Credit
The best equity lines are right here, right now, at Focus One
with our Interest-Only Home Equity Line of Credit.
|
Equity One Plus: |
Both Accounts Include: |
6.00% APR*
80% of your home's value
Up to $250,000
10-year draw period |
NO points, NO fees with an initial advance of
$25,000
Tax advantages
No pre-payment penalty |
Lower Your Monthly Payments
Get ready to fast forward your future plans! Our
Interest-Only Equity Lines let you draw on your Equity ONE,
while you make payments based ONLY on the monthly interest
due. The result is monthly payments that are a fraction
of the cost (and talk about affordable!) -- as you can see
from the chart below.
|
How payment is calculated |
Loan |
Credit Card |
HELOC |
|
60 months |
2% of balance |
Interest Only |
|
Amount |
25,000 |
25,000 |
25,000 |
|
Interest |
13.75% |
9.49% |
6.00% |
|
Payment |
$578/mo. |
$500/mo. |
$123/mo. |
For more information or an application,
call the Credit Union at 866.436.2872.
*APR = Annual Percentage Rate. The standard variable APR is Prime minus .75% (floor rate, minimum 6.00% APR) for Equity ONE PLUS (80% loan to value), which may vary monthly based on the Wall Street Journal prime rate. Certain restrictions apply. Subject to credit approval and current lending policies. Rates and Terms are subject to change without notice. The example above compares the monthly payment paid on a Focus One Community Credit Union Home Equity Line of Credit with the total payment paid on an account from another creditor over the same time period. Please consult your tax advisor for tax advantages.
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