![]() ![]() ![]() The current Prime Rate is 8.500% resulting in a current APR of 8.750%. Flood and/or property hazard insurance may be required. The minimum line of credit amount is $50,000 and the maximum amount is $250,000. This type of credit is not available for modular homes, manufactured homes or cooperatives. A HELOC is secured by a first or second mortgage lien on your home, which must be a one-to-four family residential real estate building. Prime is a variable rate as it changes, the APR on your account will also change. The Prime Rate is the highest Prime Rate published in the Money Rates Table of the Wall Street Journal on the last business day of each quarter. The Annual Percentage Rate (APR) will be based on the Prime Rate plus a margin of 0.25%, with a maximum APR of 18.0%. For example, a $100,000 15 Year Fixed Rate Purchase mortgage with an 80% LTV will have a 7.390% APR and the repayment schedule will be 180 monthly payments of approximately $906. The stated Annual Percentage Rates (APRs) are all based on $100,000 mortgages, except for the Fixed Rate Jumbo Portfolio Mortgages which are based on $726,200 mortgages. For example, a 7/6 ARM Payment for a $100,000 80% LTV loan with a 7.250% rate and 7.797% Annual Percentage Rate (APR), based on the current market condition, the payment schedule would be: 84 payments of $682 at an interest rate of 7.250% and 276 payments at $730 at an interest rate of 8.071%. The interest rate and monthly payment may adjust every six months based on the 30-day average of the Secured Overnight Financing Rate (“SOFR”) (the index) plus a margin of 2.75 percentage points with a 5% initial change cap (2% for the 5/6 ARM), a 1% subsequent change cap, and a 5% lifetime change cap. The 5/6, 7/6, and 10/6 ARMs offer a fixed rate for the initial period of the loan (for the 5/6 - 5 years for the 7/6 – 7 years for the 10/6 – 10 years) and adjust to a six-month ARM after that period. Annual Percentage Rate (APR) is based on an assessment of individual creditworthiness, occupancy and/or property type, and our underwriting standards. Not all applicants will qualify for the lowest Annual Percentage Rates (APR) shown. All Selfreliance FCU loan programs, rates, terms and conditions are subject to change at any time without notice. Mortgages available only to members and only in designated geographic locations. Monthly payment amount does not include any property taxes, and/or insurance premiums the actual payment will be greater when such items are included. Mortgages with down payments as low as 5% (up to 95% LTV) are available only for the following owner-occupied properties: single family homes and multi-family structures up to 2 units and will require private mortgage insurance (PMI). Mortgages available only for the following owner-occupied properties: single family residences, qualified condominiums or multi-family structures with no more than four units and up to 80% LTV. Jumbo loan rates apply for higher loan limits. Higher loan limits available in High-Cost areas. You can pay a bill, transfer money to external accounts and pay a person through one location inside SAFE's Online and Mobile Banking.* The rate may be adjusted based upon occupancy, collateral, loan characteristics and conforming loan qualifying requirements. Our Payment Services offer a simpler and smarter payment experience. ![]()
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