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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.
Today's Flex Equity Rates
Rates as low as:
|
4.327 |
% |
Fee transparency
We don't charge application, annual, or closing fees3skip to disclosure. Plus, with no prepayment penalties, you can feel comfortable paying off your loan early.
| Flex Equity Fees | |
|---|---|
| Application Fee | $0 |
| Prepayment Penalties | $0 |
| Closing Fee | $0 |
| 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.
You have 20 years to pay off your Flex Equity loan.
Our Flex Equity loans can be used for a plethora of reasons including, home repairs, consolidating debt, and paying for education.
We're happy to help.
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Homeowners insurance required.
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Single-Family dwellings only in Illinois.
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We lend in all of Illinois on primary and secondary residences.
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Consult a tax advisor regarding deductibility of interest.
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Must have a Credit Union membership established and be in good standing.
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Other restrictions may apply.
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Flex Equity APR = Annual Percentage Rate. 4.75% APR for a fixed rate with a term of 20 years with monthly principal and interest payments of $323.11. Payment examples based on a loan amount of $50,000 and a loan-to-value of 80%. Adjustable Rate Payment Example: 5/1 adjustable rate payment for a $50,000 loan with a 4.75% APR, the first 60 payments are $323.11, with 12 payments at $368.00 if the rate were to adjust to 6.75%, 12 payments at $413.00 if the rate were to adjust to 8.75%, 12 payments at $457.00 if the rate were to adjust to 10.75%. Payment examples do not include homeowner insurance, property taxes, private mortgage insurance or homeowner association dues. Actual payments may be higher.
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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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