A Justice FCU Home Equity Line of Credit is a
variable rate line of credit you can draw on anytime by simply writing
a Home Equity Line of Credit Check. You can borrow between $10,000 to
$250,000
using the available equity in your home. The interest you pay may be tax deductible.
Is A Home Equity Line of Credit Right For You?
| • |
You need the flexibility of borrowing in increments over time. |
| • |
You do not require a fixed monthly payment. |
Advantages of A Home Equity Line of Credit:
| • |
A flexible revolving line of credit. |
| • |
The interest you pay on the loan may be tax deductible. |
Determining Equity
Click here for more information on the methods to determine the equity in your
home.
Availability
Justice FCU Home Equity Loans may not be available in all states. Click here for eligible locations.
Closing Costs
Closing costs for Home Equity Lines of Credit include all recording expenses needed for the filing of your Deed within the County Land Records. Upon approval of your application, your Home Equity Specialist will provide you with an estimate of your closing costs.
Repayment Terms
Minimum payment is 1% of the outstanding balance.
Interest Rate
The interest rate is a variable annual percentage rate based upon
the Wall Street Journal Prime Rate. The rate for the Justice FCU
Home Equity Line of Credit is subject to change quarterly.
Click
here for current rates.
Application Verification Documents
Click
here for Application Verification Checklist.
5 Tips for Dealing with a Home Equity Line Freeze or Reduction
Click
here for an article from the Federal Reserve Board. |
