CPCU’s Exclusive Introductory Rate Home Equity Loan
Leverage Your Home Equity Wisely with CorePlus Credit Union’s Smart HELOC
Introducing CorePlus Credit Union’s Smart HELOC: A Smarter alternative to leverage your home equity wisely, offering a 12-month fixed introductory rate to give you unparalleled peace of mind. We know the financial journey ahead isn’t always easy, which is why we’re offering Smarter financial solutions.
Finance Your Next Home Improvement, Take a Vacation + More with a Smart HELOC from CorePlus!
Why Choose CorePlus’ Smart HELOC?
Low Introductory Rates
Benefit from 12-months of fixed rates that provide stability and predictability in your payments. After your fixed rate period ends, your new rate will be prime +/- regular margins minus lowest prime minus 0.50%. Contact a CorePlus Mortgage representative for additional details.
Extended Draw and Repayment Periods
Borrow against the equity in your home and withdraw funds from your credit line during your 10 year draw period. After the draw period, borrowers will have a repayment period of 15 years.
High Loan-to-Value Ratios (LTV)
Enjoy high LTV ratios of up to 80%, maximizing your borrowing capacity and unlocking the full potential of your home’s equity.
Generous Loan Amounts
Access HELOC limits ranging from $25,000 up to $100,000, providing you with substantial financial support for virtually all of your borrowing needs.
No Upfront Fees*
Experience the convenience of no application fees, ensuring a straightforward and cost-effective borrowing experience.
* A $50 annual service charge will apply. A $100 inactivity charge will be assessed on account that have no activity in the preceding 12 months.
Home Equity Loan FAQs
A Home Equity Loans is a Mortgage, any loan that is collateralized by a home is considered a Mortgage Loan. Home Equity loans are generally a 2nd lien position Mortgage and are a great way to tap into your home’s equity-without the cost of having to refinance your first Mortgage. Home Equity loans generally don’t have any or have very low closing costs-making them the most cost effective way to access the equity in your home.
We have fixed rate Home Equity Loans-with fixed rates and payments-with terms from 5 to 20 years. Our HELOCs-all 3 types have a 10 year Draw Period and 15 year Repayment period-with variable rates and payments tied to the balance and prime rate each month-except for the SMART Heloc-where the rate is fixed for the first year-payments will still vary depending on the HELOC balance each month.
Fixed rate HE loans are generally best for a fixed project or expense-where the funds would be needed all at once and HELOCs are better suited for smaller projects over time, where funds are not all needed immediately-only financing what you need as you go.
Our HE & HELOC loans can be used for anything home, family or personal need related-our fixed rate HEs and Rapid Refis do have rate increases for Cash out or D/C that does not include improvements to the home. Our HELOCs have no bumps regarding the purpose of loan, but none of our HE/HELOC programs can be used for business or commercial needs.
Payment options include, online, phone, internet or auto pay and payments can be made weekly, biweekly or monthly and extra principal payments can be paid at any time.
Questions? Contact a CorePlus Lending Professional
Explore the Possibilities of Home Equity!
Apply for CPCU Home Equity Products Today! Transform your dreams into reality. Apply for our Home Equity Products at CorePlus Credit Union and unlock the financial potential within your home.
At CorePlus Credit Union, we’re not just about loans; we’re about making your aspirations a reality. Apply today and explore the possibilities of home equity with your trusted financial partner!
