Home Equity Line of Credit
WSSC Federal Credit Union offers you best in class home equity products to meet your needs. Put the equity in your home to work, whether for home improvements or for other needs.
- $100,000 maximum
- Maximum term 15 years (180 months)
- Draw period is five (5) years with a ten (10) year repayment period
- Adjustable rate, based on the Prime Rate as published in the Wall Street Journal
- Rate determined by credit score
Qualifications apply. Rates subject to change without notice. Maximum combined loan-to-value of 100%. *If the loan is paid off within three (3) years the member is responsible for reimbursement to the credit union of any closing costs assistance. Equal Housing Lender.
Contact us at 240-459-8008 for further details and to apply.
PLEASE NOTE THE FOLLOWING:
- Effective November 1, 2004, the WSSC Federal Credit Union Board of Directors has adopted risk-based lending. The purpose of risk-based pricing is to offer more competitive rates to our members based on each individual’s credit history. The Board of Directors will set and adjust the rate structure according to risk. Rate information will be posted on our website (www.wsscfcu.org) and may also be obtained by contacting the Credit Union.
- All Current Lending Policies Apply
- Total indebtedness to the Credit Union may not exceed $60,000.00
(Share, Home Equity and Tax Smart Loans are exempt from calculation)
- *APR = annual percentage rate. All Rates Subject To Change
- The Credit Union reserves the right to refuse consideration of a loan application submitted by a member who has caused the Credit Union to suffer any form of financial loss
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