Home Loans

If you own a home, there is no smarter way to borrow than a USSFCU Homeowner Loan. Designed for the member with a large need and little or no equity. Borrow as little as $7,500 or as much as $30,000. No appraisal is required and the interest you pay may be tax deductible*.

               

For that one time major purchase or expense.  Rates are low and fixed for terms up to 180 months.*

               

Enjoy the security of an amortizing paymentˆ – flexibility of readily available revolving funds.*

ˆVariable interest rate subject to change quarterly. Rate equal to the WSJ Prime Rate in effect on the last day of each calendar quarter subject to a floor of 3.00%.

MINIMUM PAYMENT REQUIREMENTS: You can obtain credit advances for 120 months (the draw period). During the draw period, payments will be due on a monthly basis. Your minimum monthly payment will be established at an amount equal to 1.50% of your unpaid account balance at the end of the billing cycle, subject to a minimum of $75. After the draw period ends, you will no longer be able to obtain credit advances and you must repay the outstanding account balance (the repayment period). The length of the repayment period will depend on your outstanding account balance at the beginning of the repayment period but in no event exceed 120 months. During the repayment period, minimum payments will be due monthly. The minimum monthly payment will be established at the beginning of the repayment period or change in interest rate in an amount necessary to fully amortize your outstanding balance over 120 months from end of the draw period.
MINIMUM PAYMENT EXAMPLE: If you made only the minimum monthly payment and took no other credit advances it would take 151 months to pay off a credit advance of $10,000 at an ANNUAL PERCENTAGE RATE of 4.00%. During that period, you would make 150 monthly payments varying between $150 and $75 with a final payment of $19.54. FEES AND CHARGES: To open or maintain a home equity line of credit, you must pay certain fees to third parties. These fees generally range from $500.00 to $1,300.00. If you ask, we will give you an itemization of the fees you will have to pay to third parties.
LATE PAYMENT FEE: If your payment is more than 10 days late, you will be charged 5.00% of the payment due.
PROPERTY INSURANCE: You must carry insurance on the property that secures this plan.
MINIMUM LINE OF CREDIT: The minimum Home Equity Line of Credit is $5,000.00.
TAX DEDUCTIBILITY: You should consult a tax advisor regarding the deductibility of interest and charges for the plan.

This is a revolving line of credit secured by the equity in your principal residence that offers the flexibility of a low, interestˆ only payment.  Use as much or as little as you need to meet your future expenses.**