Financial Partners Home Equity Loans 

A Home Equity Line of Credit from Financial Partners FCU can help put more money back in your pocket.  Use it to consolidate exsisting loans, make improvements to your home, send a child to college, or whatever you like.  See the list below to help determine whether a HELOC is right for you.

• Access with a FPFCU VISA card (cash advances or purchases)
• LTV (Loan to Value) is 90% of appraised value minus any other liens
• Rate is Prime plus 0% (As of 12/16/08 is 3.25% APR- MINIMUM RATE IS 4.00% APR)
• Special Introductory Rate is 2.50% for the first 6 months.
• Closing Costs include a $150.00 application fee.  All other costs are waived.  The application fee will also be waived with an initial cash advance of $5,000 or more.
• Minimum initial advance at the time of closing is $2,500
• Term of 20 years (10 year draw period plus 10 year repayment period)
• Required payments for the 10 year draw period are interest only (minimum $50.00)
• Processing Time is 3 to 4 weeks depending on appaiser and title company
• Interest is tax deductible (Please seek the advise of a tax consultant.)