Home Equity Lines of Credit

• Turn the equity in your home into ongoing, affordable financing
• Competitive rates for several ongoing or seasonal needs
• The existing equity in your home is used as collateral backing
• Accommodating repayment terms that work uniquely for you
• Funds available anytime without reapplying; apply once, then use repeatedly thereafter
• Revolving credit — as principal is repaid, more becomes available for use
• Funds easily available via in-person or automated phone and online transfers to a specified St. Mary’s Credit Union checking account
• Set up automatic payments to be deducted from your account monthly
• The interest paid might be tax deductible¹
• Quick, local decision-making and processing
• Attentive, friendly service from start to finish
• The property must be a 1-4 family owner occupied residence
• The interest rate is adjustable and tied to the Prime Rate as published in The Wall Street Journal minus 50 basis points (-0.50%) for the life of the loan, subject to minimum interest rate of 3.25%APR and maximum rate of 12.00%APR
• 10 year interest only draw period, followed by a 15 year repayment period
• Ideal for several ongoing or seasonal needs:
  • Education expenses
  • Major life events
  • Major home improvements
  • Debt consolidation
  • Emergency reserve
  • And much more

• Use the existing equity in your home - up to 80% of the value - as collateral

HELOC Rates