Is the home you have truly the home you want? Imagine hosting a party with friends, cooking a romantic meal in your new kitchen or even spending time with family in front of the fireplace. If you've been dreaming about remodeling or improving your home, you may be able to use the equity in your home with a loan or line of credit from Mutual 1st Federal.
*An introductory Annual Percentage Rate (APR) of 1.99% is fixed for the first 12 months on new home equity line of credit applications submitted by November 30, 2017. $10,000 minimum advance required. The 12 month introductory period immediately begins upon loan closing. The home equity line of credit APR is variable, following the introductory period, and based on the Wall Street Journal Prime plus a margin. Your APR will be based on specific characteristics of your credit transaction, including borrower credit rating, loan to value, property type, and term. The interest rate floor following the promotional period, of 12 months, will be a minimum APR of 4.25% (floor). Rates, terms, and conditions are subject to change without notice. The maximum APR that may apply is 18%. The estimated closing costs are $0, excluding the appraisal at member’s expense. Please contact representative for additional detail. The applicant will be responsible for costs incurred if the loan is withdrawn or unable to meet approval conditions. Offer applies to owners who occupy a single family residence. All loans are subject to approval. Other restrictions may apply.
**An Annual Percentage Rate (APR) as low as 4.125% is available for 120 month loans with a loan-to-value of 80% or less. For a $25,000 loan at 4.125% interest rate for 120 months will have a 4.125% APR and a monthly payment of $255.48. Automatic payments are required to obtain the lowest APR. Your APR will be based on characteristics of your credit transaction, including borrower credit rating, loan to value, property type, and term. Maximum loan amount of $125,000. Offer expires November 30, 2017. All loans are subject to approval. Other restrictions may apply.
***Consult your tax advisor.