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Home Equity LOC

APPLY NOW: https://crescentcredit.mortgage-application.net/WebApp/Start.aspx?

A home equity line of credit (HELOC) puts extra cash as close as your checkbook 

Term: 10 years draw period followed by a 15 year amortized repayment period.
Closing Fees: $0.00
Annual Fee: $0.00

Interest Rate/APR

Initial rate of 1.990% for the first 12 month(s), subject to a minumum draw of $20,000 on the line of credit at closing, or the initial rate will be 2.490%, then Prime Rate as published in the Wall Street Journal (currently 5.00% as of 6/14/2018), subject to change.

The initial rate is discounted, that is, not based on the index and margins used for later rate adjustments. The initial rate will be in effect until the 13th monthly billing cycle.  Ask us for the current index values, margin, discount if applicable and annual percentage rate. After you open a credit line, rate information will be provided on periodic statements that we send you.  The rate of interest after the initial rate will be lowered by .25 percentage points (.25%) in consideration for your authorization to have your monthly payment automatically deducted from your Crescent Credit Union Relationship or eRewards Checking Account. In the event that the Relationship or eRewards Account is closed or account type is changed or there is insufficient balance in said account to pay a regular scheduled payment due, the credit union may increase the rate payable on the outstanding balance by .25 percentage points (.25%).

Payment

During the draw period we offer 5 years of interest only payments followed by 5 years of interest plus 0.5% of outstanding principal with a minimum monthly payment of $100. During the repayment period the payment calculated allows you to pay off the loan at maturity. Review our HELOC Disclosure.

Term

10 years draw period followed by a 15 year amortized repayment period.

Please review our HELOC Disclosure

CFPB_HELOCbooklet.pdf

Important_Terms_Home_Equity_LOC_2018.docx

Crescent Credit Union NMLS #480403
115 Commercial Street / PO Box 4290, Brockton, MA  02303
Toll Free:  (800) 894-4445
Direct:  (508) 559-5400
mortgage@crescentcredit.org
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