FLEX EQUITY HOME EQUITY LOAN

Enjoy a low fixed rate for the first 5 years.

With Flex Equity, you'll receive a lump sum loan at a low rate that is fixed for 5 years. Thereafter, your rate is variable.

  • Guaranteed, non-variable, fixed rate for the first 5 years
  • After the fifth year, the rate may change annually and is based on the Constant Maturity Treasury index (CMT) as published in the Wall Street Journal CMT plus a 3.00% margin
  • Your rate will never increase more than 6% over your initial rate and cannot increase more than 2% per year
  • Take up to 20 years to repay your loan with no prepayment penalties
  • We lend on primary and secondary homes in Illinois
  • Borrow up to 90% of the value of your home2skip to disclosure with loans from $10,000 - $1,000,000

Today's Flex Equity Rates

Rates as low as:

7.368

%

APR1skip to disclosure

Fee transparency

We don't charge an annual fee. Plus, with no prepayment penalties, you can feel comfortable paying off your loan early.

Flex Equity Fees
Prepayment Penalties$0
Appraisal Fee³skip to disclosure$0 - $250
Annual Fee$0

Get help with Flex Equity.

Our Flex Equity loan offers the comfort of lower payments over a longer period of time and the security of a fixed-rate payment for the first five years.

No, there are no annual fees with a Flex Equity loan.

After the fifth year, the rate may change annually and is based on the Constant Maturity Treasury index (CMT) as published in the Wall Street Journal CMT plus a 3.00% margin. The rate cannot increase more than 2.00% per year.

Our Flex Equity loans can be used for a plethora of reasons including, home repairs, consolidating debt, and paying for education.

  • Homeowners insurance required.

  • Single-Family dwellings only in Illinois.

  • We lend in all of Illinois on primary and secondary residences.

  • Consult a tax advisor regarding deductibility of interest.

  • Must have a Credit Union membership established and be in good standing.

  • Other restrictions may apply.

1
  • Flex Equity Annual Percentage Rate. Rate subject to change without notice. 20 year 5/1 ARM: Adjustable Rate Payment Example based on a loan amount of $50,000 and a loan-to-value of 80%: 5/1 adjustable rate with a 7.368% APR, the first 60 payments are $387.65, with 12 payments at $449.86 if the rate were to adjust to 9.00%, 12 payments at $516.10 if the rate were to adjust to 11.00%, 12 payments at $585.79 if the rate were to adjust to 13.00%. Payment examples do not include homeowner insurance, property taxes, private mortgage insurance or homeowner association dues. Payment examples were calculated using the initial payment period, and then each payment thereafter was calculated using the maximum rate allowed for each rate change period until maximum rate achieved. Rate and payment will adjust annually based on the index and loan terms through the life of the loan for the continued repayment period. Example for informational purposes only. Actual payments may be higher. Homeowner insurance required. Minimum loan amount $10,000; maximum $1,000,000. All loan terms and conditions are subject to Credit Union qualifications and approval. Some restrictions may apply. Must have a Credit Union membership established and be in good standing.

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2
  • Qualified Members can borrow up to 90% of the appraised market value of their home (up to 80% for first lien loans, condos and second homes), Loan to Value, less the first mortgage owed.

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  • Appraisal costs may vary based on loan amount, credit score, loan to value and debt-to-income ratio. Other restrictions may apply.

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Routing Number:
271990198