HELOC/Home Equity Loan

Membership is required.
Exclusions: Properties in the state of Texas and non-owner-occupied properties are not eligible. Only 1- 4 units owner-occupied are eligible.

*Offer is valid as of April 1, 2024, and is subject to change or end without notice. HELOC: Closing costs up to $1,000 waived for a HELOC with a minimum initial draw of $10,000 made at closing upon approval. Fees can range from $400 to $4000. Home Equity Loan: Closing costs and origination fees up to $1,000 waived for a Home Equity Loan with a minimum initial draw of $10,000 made at closing upon approval. Fees can range from $400 to $4,000. Transfer taxes, if applicable, are the responsibility of the borrower and are not included in the waiver. SkyOne FCU has the right to rescind this promotional offer at any time without notice at its discretion.

**APR=Annual Percentage Rate. See Home Equity Loan and Line of Credit Rates. Advertised rates for Home Equity Line of Credit (HELOC) and Home Equity Loan include a 0.25% Autopay (automatic payment) discount. Without Autopay, rates are .25% higher. Not all applicants will qualify for the lowest rate. The annual percentage rate (APR) is the cost of credit over the term of the loan expressed as an annual rate. Rate, points and APR may be adjusted based on several factors, including, but not limited to, loan amount, loan type, occupancy type, property type, loan to value and your credit score. Your final rate and points may be higher or lower than those quoted based on information relating to these factors, which may be determined after you apply. Fees, costs, and monthly payment on your specific loan transaction may vary and could include additional fees and costs. For example, loans with LTVs more than 80% typically require mortgage insurance which will increase both your APR and monthly payment.

¹HELOC: Subject to credit approval. Rates, loan amounts, and terms are based on standard underwriting factors including Combined Loan-to-Value (CLTV) and are subject to change. 1) Maximum Credit Limit: $300,000 or 80% of appraised value less liens, whichever is less. 2) Minimum Credit Limit: $10,000. 3) TRANSACTION REQUIREMENTS: Requires minimum draw of $10,000 at time of closing. 4) RATE INFORMATION: Variable APR based on The Wall Street Journal Prime Rate (the “Index”) plus a margin. This variable rate may vary with changes in the Prime Rate. The maximum Annual Percentage Rate that can apply to a Home Equity Line of Credit is 18%. Your Annual Percentage Rate will not go below 3% at any time during the term of the loan. 5) MAXIMUM RATE & PAYMENT EXAMPLE: If you had an outstanding balance of $10,000, the minimum payment at maximum Annual Percentage Rate of 18% with a 180-month term would be $161.04. 6) Homeowners insurance is required, and flood insurance may be required. 7) Closing costs typically range from $400 to $4,000, depending upon the property’s location. Third party fees may occur.

²Home Equity Loan: Subject to credit approval. Rates, loan amounts, and terms are based on standard underwriting factors including Combined Loan-to-Value (CLTV) and are subject to change 1) Maximum loan amount: $300,000 or 80% of appraised value less liens, whichever is less. 2) Minimum loan amount: $10,000. 3) Payment example: a $50,000 Home Equity Loan with a 120-month term with a rate of 9.49% APR has a monthly payment of $647.00. 4) Homeowners insurance is required, and flood insurance may be required. 5) Closing costs typically range from $400 to $4,000, depending upon the property’s location. Third party fees may occur.

³Tax Deduction. Consult a professional tax advisor regarding the deductibility of interest charges.

Equal Housing Lender