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Home Equity Rates
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Rates Effective:
Rates subject to change daily.
Notes:
- V: variable rate, F: fixed rate.
- Automatic payments are deducted from your OnPoint checking or savings account. Rate increases if Automatic Payment not used.
- With EquityFlex, you have the option of converting portions of your line of credit into a fixed rate loan. Fixed portions are set equal to the corresponding standard Home Equity Loan rate at the time of conversion.
- Loan costs: Member pays loan closing costs (estimated range of $125 - $2,500) which includes flood certification and appraisal, and title insurance and escrow fees if required. $25 annual fee for Line of Credit is waived for the first year.
- Property insurance is required. Flood insurance may be required.
- Must meet OnPoint's credit and underwriting requirements.
V1: Automatic Payment rate is Prime. Rate without automatic payment is Prime + 0.50%. Subject to adjustment on the 21st day of each month based on Prime Rate published in the Wall Street Journal on the 10th day of the month (or on the next business day if the 10th falls on a weekend). Prime rate has been 4.50% APR since 10/10/08. The maximum rate that may apply during the line of credit is 18.00% APR.
V2: Automatic Payment rate is Prime + 1.00%. Rate without automatic payment is Prime + 1.50%. Subject to adjustment on the 21st day of each month based on Prime Rate published in the Wall Street Journal on the 10th day of the month (or on the next business day if the 10th falls on a weekend). Prime rate has been 4.50% APR since 10/10/08. The maximum rate that may apply during the line of credit is 18.00% APR.
F: Rate assumes home equity loan with automatic payment from an OnPoint checking or savings account. For rate without automatic payment add 0.50%. Certain restrictions and third party costs may apply. Members must pay closing costs, which generally range between $125 - $2,500. Ask us for details. Property insurance is required. Flood insurance and appraisal may be required. You must meet OnPoint's credit and underwriting requirements. Effective 11/01/08 and subject to change.
*Not available for fixed portions of an OnPoint EquityFlex Line of Credit. Advance must include converted auto loan.
All loan rates are determined by credit union management and subject to change at any time. The credit union may offer other rates in the future. All services offered by the credit union shall be subject to applicable laws of the State of Oregon, federal laws and regulations, credit union bylaws, and all regulations, rules and practices now or hereafter adopted by the credit union. All loans subject to credit approval.
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