* Life and total disability insurance coverage up to $15,000.00 at no cost to you! * HOME EQUITY LOAN RATES Minimum loan value: $10,000.00 Maximum loan value: 80% of market value of home Home Equity Loans at prime rate 6.00%.
HOME EQUITY LINES OF CREDIT up to $100,000.00
RATE: Prime Rate adjusted quarterly
Home Equity Lines of Credit rate 7.25%.
(Feb-May-Aug-Nov 1st as of 15th prior)
Minimum: 6.0% Maximum: 18% No cap on change amounts
DRAW PERIOD: 5 years.
Extensions beyond 5 years require credit approval.
DRAWS OR ADVANCES: Initial $10,000.00
Subsequent Minimum: $1,000.00
By Wire Transfer or mailed check.
Wire fees waived on 4 advances per year.
No limit on number of advances.
PAYMENTS: 1-1/2% of outstanding balance,
with a $50.00 minimum per month. Adjusted at each advance.
MAXIMUM LOAN TO VALUE: 90% including 1st mortgage balance.
RESTRICTIONS: Minnesota properties only.
Primary or secondary residences.
Owner-Occupied only.
First or Second lien position only.
Not available for purchase of property
or to pay off existing LCU first mortgage.