HELOC VISA® Credit Card
Now you can enjoy the advantages of a Home Equity Line of Credit (HELOC) and the convenience of a Visa® credit card! Our HELOC Visa card makes it even easier to renovate your home, consolidate debt or even manage everyday expenses. Use it anywhere Visa is accepted!
- Competitive rates
- Visa's Zero Liability Protection
- Generous Credit Limits
- No application fee or annual fee
- Borrow up to 80% of your home's appraised value*
- Up to 20 Year Term - 10 year draw, 10 year repayment
By using the available equity in your home as collateral, our HELOC Visa credit card can be an affordable way to get the funds you need. Plus, Advantage One offers no closing costs, application or annual fees.
*Borrow up to 80% of your home's appraised value (less mortgage & liens).
|Home Equity Lines of Credit|
|Effective Date: Friday, August 23rd, 2019|
|Name||Annual Percentage Rate|
|10 year Line of Credit||5.50%|
Quoted Home Equity Line-of-Credit rates are the lowest available. Your final loan rate is based upon the Prime rate, creditworthiness, consumer credit scoring and may be higher than the quoted rates. The credit union rates have a floor of 4.00% and a maximum of 16.00%. Rates are subject to review and change quarterly. You can obtain credit advances for 10 years during the draw period. The length of the repayment period will be 10 years. You will be required to make monthly payments during the draw and repayment periods. Retain a copy of the preliminary disclosures. The credit union will receive a security interest in the dwelling. Secondary Homes and Investment Properties can be used as collateral. Loans secured by Secondary Homes and Investment Properties have a maximum LTV of 75% and a .50% rate markup.
FEES AND CHARGES: In order to open, use and maintain a line of credit plan, you may have to pay an appraisal fee.