Home Equity Line of Credit Plus
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A Home Equity Line of Credit Plus is a great loan that allows you to access the equity in your home and gives you the financial tools to help: a Visa Platinum card with an incredibly low rate, free home equity checks, and electronic account access. The benefits of the Home Equity Line of Credit Plus include:
- An incredibly low variable interest rate
- High credit limit potential: Borrow up to 80% of your home's value with no closing costs, or up to 100% of your home's value 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.
- Low monthly payment: the minimum payment is $50 or 1.25% of the outstanding balance, whichever is lower.
- Free financial calculators
- Minimum loan amount of $10,000
- Platinum card benefits do not include cash back rebate
- The maximum 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.
- 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
- Copy of trust deed
Useful Info
America First Credit Union
PO Box 9199
Ogden, Utah 84409
1-800-999-3961
Routing & Transit Number:
324377516
©2010 America First Credit Union, PO Box 9199, Ogden, Utah 84409, 1-800-999-3961. All Rights Reserved. America First Federal Credit Union does business as (DBA) America First Credit Union. Unauthorized account access or use is not permitted and may constitute a crime punishable by law. America First Credit Union respects your privacy. Please view our Privacy Policy.