Home Equity Line of Credit Introductory Rate
- Get as low as 4.99% APR* for the first year then
- A low, fixed-rate for an additional 9 years*
Now is the time to reimagine your home with a 7 17 Home Equity Line of Credit
Highly qualified borrowers will enjoy an introductory rate of 4.99% APR* for the first year and a fixed-rate for an additional 9 years.
Are you tired of staring at the same four walls? Just imagine what you could do to refresh your home with a Home Equity Line of Credit from 7 17 Credit Union. Use the money to create that much needed home office; update your kitchen or create an outside oasis in your backyard. Our competitive rates and low monthly payments make the choices almost endless. It’s yours to make, and we’ll help you every step of the way.
Open a new Home Equity Line of Credit today and enjoy these additional perks:
- Monthly payments as low as $125* when you borrow $10,000
- Fast, convenient VISA® access to your money
- Closing costs savings**
- Sign your documents from the comfort of your home via Electronic Signature (some restrictions may apply).
Non-members of 7 17 must join the credit union (open a savings account) to receive this offer. When responding to this offer, we will deposit the $5.00 minimum opening deposit into your new share (savings) account, which establishes membership. While not common to this offer, membership eligibility restrictions may apply.
*Highly qualified borrowers will receive an introductory 4.99% APR (Annual Percentage Rate) for the initial 1-year draw period and 7.75% APR for the remaining 9-year draw period (for loans up to 80% loan to value). After 10 years from the initial loan closing, your loan rate will become variable and the loan will go into a repayment period with no further draws available. For highly qualified borrowers, the APR during repayment will be Prime plus .00% and may vary monthly based upon the highest Prime Rate published in The Wall Street Journal 30 days prior to the adjustment and will take effect on the first day of your billing period. The Prime Rate as of February 2, 2023 is 7.75%. Your APR may vary based on equity and credit qualifications. During the repayment period, the APR will not go below 4.50% or exceed 15%. Other rates and terms are available for less qualified borrowers. Loans subject to approval criteria, not all applicants will qualify. Call for details. Property insurance required (and flood insurance, if applicable). The minimum payment on your Home Equity Line of Credit will be 1.25% of the balance owed. Payment example: if your balance is $10,000, your payment would be $125 (does not include escrow, taxes or insurance). Rates are subject to change without notice.
**Loans subject to a $50 Annual Fee (waived for the first year on new loans). Closing costs, based on loan amounts, can range from $197 to $1,177. Up to $300 in closing fees are waived on a new 7 17 Home Equity Line of Credit loan with the exception of a Cancellation Fee of $40. If you fail to maintain an open line of credit for at least 24 consecutive months, the waived fees must be repaid. The refinance of a 7 17 Home Equity Line of Credit loan will not qualify for waived fees. Not valid with any other 7 17 Home Equity special offers. Offer subject to change or withdrawal without notice.