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Loan Rates: Home Equity |
| Loan Type | Rate | Fee | APR* | Repayment Terms |
| Owner Occupied 1-4 Family Unit Up to 80% CLTV** |
6.000% 6.500% 7.000% |
2.000% 1.000% 0.000% |
6.285% 6.642% 7.000% |
10 year fixed or 30 year amortization with a 10 year balloon. 5, 15 and 20 year terms and rates available by request**. |
| Non-Owner Occupied 1-4 Family Unit Up to 80% CLTV** |
7.500% 8.000% 8.500% |
2.000% 1.000% 0.000% |
7.800% 8.149% 8.500% |
10 year fixed or 30 year amortization with a 10 year balloon. 5, 15 and 20 year terms and rates available by request**. |
*Annual Percentage Rate (APR) - the annual yearly cost of credit. Includes the effect of interest, discounts, fees, and other costs. APR shown is based on a loan amount of $20,000.
**A balloon option is not available on the 5 year term.
**Combined Loan to Value (CLTV). All loans on the property (ie First Mortgage, Home Equity, HELOC, etc) cannot exceed a combined percentage (as stated) relative to the documented value of the property.
**Rates assume full relationship for the term of the loan. Add 1.00% if you do not have your first mortgage with WECU.
Payment Example: With an APR of 7.295%, a loan amount of $20,000, a 30 year amortization, and a 10 year balloon, your monthly payment would be $133.06 for 119 months with a balloon payment of $17295.36 due on your 120th payment date.