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THE GOOD NEWS IS OUR HOME EQUITY RATES HAVE DROPPED AGAIN!

If you’ve been following the news, you know recent shake-ups in the mortgage market and falling home values have made real estate borrowing difficult for many Americans. But even in a declining market, members may still have important financial needs which can best be met by drawing on the equity in their homes.

Thanks to our history of stable,“gimmick-free” lending, CEFCU today remains your solid choice for exceptional value in real estate borrowing.

In good times or hard times, it’s nice to know you can depend on CEFCU. We have TWO outstanding Home Equity Lines of Credit to choose from, and each features among the lowest variable rates in the nation:

Our TRADITIONAL HOME EQUITY LINE — Soon as low as 6.00%APR (as of September 1st). Take advantage of falling rates, plus the assurance of a steady, affordable monthly payment: just 1.2% of the balance at the time of your advance (or $100, whichever is greater).
This line lets you pay off your loan as you go, so at the end of the loan term, you’re “home free!”

Our 10-YEAR INTEREST ONLY HOME EQUITY LINE — Now as low as 4.75%APR. Draw on your equity for 10 years while your payments are based ONLY on the monthly interest due. The dramatic reduction in monthly costs is underscored by one of the lowest rates in any financial climate: a variable rate of PRIME MINUS .25%! House

The result is a monthly payment that is a fraction of any traditional credit line. At the end of 10 years, the amount you borrowed is due in full. You can refinance it with another type of loan, or pay it off if you are planning to sell your current home.

In addition, both lines feature:

Credit limits up to $350,000*
No points
No annual fees
No pre-payment penalties
No appraisal, title or recording fees**
And, of course, tax-free interest***

WHICH LINE IS RIGHT FOR YOU?

Our loan advisors will be glad to help you choose the best Home Equity Line for you. Print out an application or apply directly online by accessing your account with CEFCU@HOME. For more information call (800) 592-3328 or come into any of our office locations.

When it comes to making headlines in your own life, the good news starts at CEFCU.

* Exceptions may apply.
** Certain restrictions may apply. $1,000 processing fee waived on new money loans or refinanced loans from another financial institution.
*** Ask your tax consultant about the deductibility of interest in your specific situation.

PLEASE NOTE: Rates, terms, and conditions are subject to change. The maximum Annual Percentage Rate (APR) is 18% on 10-Year Interest Only Lines and 14% on Traditional Lines. All loans subject to credit approval. See disclosure for complete terms and conditions. Caltech Employees Federal Credit Union is an Equal Housing Lender and Equal Opportunity Lender.