Rate Locked Until 2022* | No Closing Costs**
Make your plans and apply now to lock in your Apple FCU Home Equity Line of Credit rate until 2022!* Whether you’re drawing up renovations, zapping outstanding debt or planning for a wedding, the possibilities are endless!
- No closing costs**
- 10-year draw period, up to 20-year repayment
- INTEREST-ONLY PAYMENTS available for 10 years
- Local underwriting for fast approval
- No pre-payment penalties or annual fees.
*APR = Annual Percentage Rate. Offer ONLY available for NEW HELOCs closed between 12/01/2020 and 11/30/2021. Advances made between 12/01/2020 and 12/31/2021 will be locked at the promotional rate until 12/31/2021. Your promotional rate will be adjusted on 01/01/2022 and the new rate will be applied to the remaining balance. Your promotional rate will not be adjusted until 01/01/2022. Rate advertised is a variable rate. If your account becomes delinquent at any time during the promotional period, you will forfeit these promotional terms and the APR on the unpaid balance will be increased to the appropriate quarterly rate offered at that time as disclosed in your original note. On 01/01/2022, the APR will be adjusted to either your floor rate or the Prime Rate as published in the Wall Street Journal (whichever is higher) on 12/21/2021 plus or minus your current margin on the remaining balance and will be subject to change each quarter thereafter as stipulated by your original terms and conditions. Maximum interest rate 18.00% APR. Advance amounts must be within your existing credit limit. Advances in excess of your current credit limit will not be honored and may be subject to additional fees. If you had an outstanding balance of $10,000 during the Draw Period, the minimum monthly payment at the maximum APR of 18 % would be $150.00. Maximum loan amount is $250,000, with a maximum combined loan to value ratio of 90%. **Pay no closing costs on any new HELOC. Members who increase their existing HELOC by applying for a new loan will also qualify, with a minimum increase of $5,000. Member must still pay $495 appraisal fee if a full appraisal is required.
The HMDA data about our residential mortgage lending are available for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, and income of applicants and borrowers; and information about loan approvals and denials. Inquire at 703-788-4800 or 800-666-7996 regarding the locations where HMDA data may be inspected.