*APR = Annual Percentage Rate.
† Important Information on 5/30 Home Equity Loan
Rates are accurate as of 10/01/2008. APR is fixed for the first five years of the loan and range from 6.90% APR to 11.99% APR. Rate determined by loan to value (LTV) and credit risk. At the end of the five-year fixed rate period, rate will be variable, may change quarterly and is based on an index. Index used is Prime: the Wall Street Prime rate as quoted on the 10th day before the end of the preceding quarter. Variable rates will be determined by LTV. Prime for up to and including 80% LTV, currently 5.00% APR, Prime plus one-percent for up to and including 90% LTV, currently 6.00% APR, and Prime plus two-percent for up to and including 100% LTV, currently 7.00% APR. The maximum APR is 15%. After the first five years, monthly payment will be 1.5% of your outstanding loan balance or $75, whichever is greater. Closing costs vary and could range from $90 to $1050, of which up to $300 is waived by the Credit Union (excluding appraisal fees). Pre-payment penalty of $300 if account paid off prior to three years from origination. Equity loans are subject to application and credit approval. Membership required to borrow.
** Important Information on Home Equity Lines of Credit
APR=Annual Percentage Rate. Rates accurate as of 10/01/2008. Maximum lifetime APR 15%. Annual fee $25 and waived the 1st year. Pre-pmt. penalty of $300 if loan paid off and closed prior to 3 years from origination.Typically, fees may range from $90 to $1050, of which up to $300 is waived by Columbia (excluding appraisal fees). Equity lines and loans subject to application and credit approval. Membership required to borrow. This credit union is federally insured by the National Credit Union Administration.
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