Home Equity Loans
As low as 5.74% APR*
Fixed interest rate and monthly payment
Financing available up to a 20-year term**
Application fee $199
Borrow up to 85% of the appraised value of your home minus the first mortgage balance
Interest paid on the loan may be tax deductible -- check with your tax advisor
No penalty for an early payoff
Use the equity in your home to refinance, renovate, or reward yourself!
*Home Equity Loans and HELOCs are offered in NJ and PA only.
Home Equity Line of Credit (HELOC)
Did you know that you can spend a HELOC on virtually anything you wish? It doesn’t have to be for home repairs! While home repairs are a common use for this variable line of credit, you could also use this to fund a family vacation, or pay for college tuition!
4.99% Introductory APR* for the first 12 months.
Thereafter, rate as low as Prime +/- a margin based on credit score and LTV ratio***
Variable interest rates may adjust monthly based on the Prime Rate
Variable payment loan
Draw funds up to 5 years***
Following that 5-year draw period, minimum payment is always 1% of balance at EOM + interest.
Take up to 15 years to pay it back thereafter
Access funds via Online Banking and courtesy checks
Application fee $199
Home Equity & HELOC Terms and Conditions
*APR means Annual Percentage Rate. Rate applies for a 60 month term, 75% loan-to-value or less and automatic transfer of payment monthly from PFCU checking account with a direct deposit. Additional rates and terms are available. Loan decisions and rates are based on applicant credit worthiness. Minimum loan amount $5,000.00.
**The monthly payment per $1,000 at 5.74% for 120 months would be $10.97. The monthly payment per $1,000 at 7.49% for 180 months would be $8.43. The monthly payment per $1,000 at 7.99% for 240 months would be $9.26.
***APR means Annual Percentage Rate. 4.99% Introductory APR is fixed for the first 12 months of the loan. Once the introductory rate expires, the APR may vary; refinancing members may re-qualify for the introductory rate when three years have elapsed from their original closing date. Up to 80% LTV, rate is as low as Prime - 0.50%; for 80.01% to 85% LTV, rate is as low as Prime + 0.25%. For example, for a most qualified borrower, a HELOC up to 80% LTV, the rate is 7.50% APR. The maximum APR is 18% or the maximum permitted by law, whichever is less. Your normal APR is based on Prime Rate plus or minus a margin determined at account opening. Prime rate effective 11/08/2024 is 7.75%. Minimum credit limit is $5K. Loan decisions and rates are based on applicant creditworthiness.
NMLS ID# 630735
Home Equity Loan Rates
Last updated November 1, 2024
| Type | Lein | Min. Amt. to Borrow | Max. Amt. to Borrow | APR* as low as | Max. Term (months) | Payment per $1,000 |
|---|---|---|---|---|---|---|
| up to 75% LTV | 1st | $5,000.00 | $750,000.00 | 5.74%** | 60 | $19.21 |
| 1st | $5,000.00 | $750,000.00 | 5.99%** | 120 | $11.10 | |
| 1st | $5,000.00 | $750,000.00 | 7.49%** | 180 | $9.26 | |
| 1st | $5,000.00 | $750,000.00 | 7.99%** | 240 | $8.36 | |
| 80% LTV | 1st | $5,000.00 | $750,000.00 | 5.99%** | 60 | $19.33 |
| 1st | $5,000.00 | $750,000.00 | 6.24%** | 120 | $11.22 | |
| 1st | $5,000.00 | $750,000.00 | 7.74%** | 180 | $8.84 | |
| 1st | $5,000.00 | $750,000.00 | 8.24%** | 240 | $8.51 | |
| up to 75% LTV | 2nd | $5,000.00 | $750,000.00 | 6.24%** | 60 | $19.44 |
| 2nd | $5,000.00 | $750,000.00 | 6.49%** | 120 | $11.35 | |
| 2nd | $5,000.00 | $750,000.00 | 7.99%** | 180 | $9.55 | |
| 2nd | $5,000.00 | $750,000.00 | 8.49%** | 240 | $8.67 | |
| 80% LTV | 2nd | $5,000.00 | $750,000.00 | 6.49%** | 60 | $19.56 |
| 2nd | $5,000.00 | $750,000.00 | 6.74%** | 120 | $11.61 | |
| 2nd | $5,000.00 | $750,000.00 | 8.24%** | 180 | $9.70 | |
| 2nd | $5,000.00 | $750,000.00 | 8.74%** | 240 | $8.83 | |
| 85% LTV | 2nd | $5,000.00 | $750,000.00 | 7.74%** | 60 | $20.15 |
| 2nd | $5,000.00 | $750,000.00 | 7.99%** | 120 | $12.13 | |
| 2nd | $5,000.00 | $750,000.00 | 9.49% | 180 | $10.44 | |
| 2nd | $5,000.00 | $750,000.00 | 9.99%** | 240 | $9.64 |