100% Home Equity Term

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With a 100% IDEAL Home Equity Loan from America First you can borrow up to 100% of your home's value (minus the balance of your current mortgage) up to $25,000. With your 100% IDEAL Home Equity Loan you will also enjoy:

  • No closing costs
  • Competitive interest rates
  • Tax benefits: Interest paid on a home equity loan may be tax deductible
  • A choice of rates and terms: Fixed rate, up to 10-year term, or variable rates, up to 15-year term
  • No fees unless an appraisal is requested
  • Free financial calculators
Applicable terms and conditions
  • Minimum loan amount of $5000
  • Maximum loan amount of $25,000
  • Up to 15-year variable annual percentage rate (APR), up to 10-year fixed APR loans available
  • Variable rate loans may not exceed maximum variable APR of 18%
  • Closing costs are assessed if an appraisal is requested
  • Line of credit also available
  • Reconveyance fee of $250 if loan is reconveyed within 24 months
  • 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
Documents that 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
  • Copy of trust deed

Home Equity Rating


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Home Rates

Mortgage HE Govt Specialty
Mortgage Rates
Type Rate APR
10 Year Fixed 4.125% 4.273%
15 Year Fixed 4.375% 4.4784%
20 Year Fixed 4.875% 4.9575%
30 Year Fixed 5.125% 5.1864%
Rates Effective March 12, 2010

Payment Example

Home Equity Rates
Type F/V Term Rate
100% Ideal Closed End Term Fixed 10 Yrs 9.5%
100% Ideal Closed End Term Variable 15 Yrs 9.5%
100% Ideal Closed End Term/Balloon Fixed 30 Yrs 9.5%
100% Ideal Line of Credit/Line Plus Variable N/A 9%
80% Standard Closed End Term Fixed 5 Yrs 5.49%
80% Standard Closed End Term Fixed 10 Yrs 6.49%
80% Standard Closed End Term Variable 15 Yrs 6.99%
80% Standard Closed End Term/Balloon Fixed 30 Yrs 7.25%
80% Standard Line of Credit/Line Plus Variable N/A 4.25%
Home Equity No Fee First Mortgage 80% LTV Fixed 5 Yrs 5.35%
Home Equity No Fee First Mortgage 80% LTV Fixed 10 Yrs 5.75%
Home Equity No Fee First Mortgage 80% LTV Variable 15 Yrs 6.25%
Home Equity No Fee First Mortgage 80%LTV/Balloon Fixed 30 Yrs 6.99%
Rates Effective March 01, 2010

Payment Example

Government Loan Rates
Type Rate APR
FHA 30-year 5.125% 5.4234%
Utah Housing FHA 4.83% 5.039%
Utah Housing VA 4.83% 5.0539%
VA 30 year 5.125% 5.3829%
Rates Effective March 12, 2010

Payment Example

Specialty Loan Rates
Type Rate APR
Home Construction - Contractor Built 6% 12.7826%
Home Construction- Self Build 6.75% 13.6416%
Lot Loan- 10 Year ARM 6% 6.2653%
Lot Loan- 10 Year Fixed 7.25% 7.5194%
Lot Loan- 20/5YR ARM Balloon 6.5% 6.8003%
Lot Loan- 20/5YR Balloon Fixed 7.75% 8.0541%
Lot Loan- 30/5YR ARM Balloon 6.75% 7.0289%
Lot Loan- 30/5YR Balloon Fixed 8% 8.2953%
Rates Effective January 15, 2010

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