HEL/HELOC

Brian Ahern 413-575-5168 bahern@holyokecu.com
Sharon Hamel 413-539-0960 shamel@holyokecu.com
Donna Lessard 413-386-8086 dlessard@holyokecu.com

The rates are in your favor so now is a wise time to take advantage of the power of the equity you have in your home. How about new windows before winter? Or a new roof, room addition, or even money for college tuition? Contact any of the three of us and we'll advice you on the best way to tap your equity - either through a Holyoke Credit Union Home Equity Loan or Line. So take advantage of our great rates and all the personal service you need to make the most of the equity in your home.


*The 1.99% Annual Percentage Rate (APR) is fixed for 12 months. Thereafter the APR becomes a monthly variable rate equal to the Prime Rate as published in the Wall Street Journal on the last business day of the previous month plus a margin of 0.00%. The Prime Rate was 4.25% as of 6/14/17, and the margin of 0.00% is guaranteed for the life of the loan. The APR will never exceed 18% nor drop below 4.00% after the first anniversary of the agreement date. The Home Equity Line of Credit has a 10-year draw period. After the draw period ends the repayment period will be 15-years. Minimum line is $10,000, and maximum line is $250,000. Closing costs may range from $75.00 to $650.00 and are lender paid. However, if you should pay off and terminate the line prior to the third anniversary of the agreement date, you will reimburse the lender for the closing costs that were paid by the credit union on your behalf. If you request an independent appraisal, you will be responsible for the cost which is estimated between $350.00 and $550.00. This offer is subject to change without notice and is available for new lines and owner-occupied, 1-4 family properties only. All loan applications will be subject to credit acceptance and property approval. Home owners insurance and flood insurance (if applicable) are required.

**Minimum loan amount is $25,000.00. Maximum loan amount is $250,000.00. APR includes a 0.25% rate reduction when HCU holds your first mortgage or when this Home Equity Loan is in first lien position. APR includes a 0.25% rate reduction for monthly loan payments automatically deducted from your existing HCU Checking account. Not available for home purchases. Property must be a one to four family and owner occupied. Property insurance is required and flood insurance may be required. Approvals are subject to final property valuation and title search acceptable to the Credit Union. Your actual rate may be different than the advertised rate based upon your credit score. Payments do not include amounts for taxes and insurance and your actual payment may be greater. For an 80% loan-to-value Home Equity Loan with a term of 20 years and an APR of 4.00% the monthly payment per $1,000 would be $6.06. Rates effective 9/7/17 and subject to change.

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