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BETTER-UR-RATE HOME EQUITY LOAN
THE Tri-Town FCU Better-UR-Rate Home Equity Line of Credit (HELOC) mortgage allows members in good standing to benefit from the equity they have in their homes with extremely competitive interest rates and favorable terms. See the table below for the rate offer:
| CREDIT SCORE | RATE (% APR) |
|---|---|
| 800-850 | PRIME- .50 |
| 750-799 | PRIME- .25 |
| 700-749 | PRIME |
| 650-699 | PRIME+.25 |
| 600-649 | PRIME+ .50 |
| UNDER 600 | PRIME+ 1.00 |
KEY POINTS ABOUT THE BETTER-UR-RATE HELOC
- No fees or closing costs
- Line of credit up to $200,000
- Interest only Draw period is 10 years and then you have 10 years to repay (total 20 years)
- Based on 75% loan to value of your home in Connecticut
- After the draw period, an amortization payment schedule will be provided based on the amount you owe.
- Application and Disclosures provided upon request
CURRENT PRIME RATE : 5.50%
IMPROVE YOURÂ RATE
Members with scores less than 800 will have up to 2 opportunities, on the anniversary of their loan, to have a re-look performed during the draw period. If their credit score improves to a new category, their HELOC rate will be changed to reflect the improved score. TTTFCU believes strongly that members should be rewarded when they improve their credit score.
For more information or to process an application, please call us at 203.227.8511.
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