Home Equity Line Plus
When you choose the America First Home Equity Line Plus you enjoy:
- An incredibly low variable interest rate
- High loan-to-value ratio: Up to 80 percent of your home's value with no closing costs, or up to 100 percent with a maximum of $25,000.
- Visa Platinum card for line of credit purchases.
- Free home equity checks.
- Electronic account access.
- No yearly access charges.
- Payment will be due monthly and will equal 1.25 percent of the outstanding principal balance on the first day of each month. The minimum payment will equal $50.00 or the outstanding balance on your line, whichever is less.
Check out our home equity calculators.
The following terms and conditions apply:
- Minimum loan amount of $10,000
- Platinum card benefits do not include cash back rebate
- The maxiumum APR for Home Equity Line Plus is 18%
- Reconveyance fee of $250 if loan is reconveyed within 24 months
- Interest accrues daily with no grace period for repayment
- Home must be located in the state of Utah, Arizona or Nevada
- Homeowner must provide evidence that the home is adequately insured before disbursal of funds
- Federal law requires a three-business-day rescission period. Upon expiration of said rescission period, funds cannot be disbursed until America First Credit Union receives confirmation that the right to rescind has not been exercised by any party with that right.
The following documents will help expedite the review process:
- Income verification
- Two years of tax returns (if self-employed)
- A current statement showing the balance of your first mortgage
- This year's property tax notice or current appraisal
- Homeowner's insurance statement
- Trust papers, if applicable
