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HOME EQUITY LINE OF CREDIT

Utilize Your Home's Value

You've worked hard to build equity in your home. And if you're looking to make the most of this resource, America First has a product to fit your needs.

 

Make Summer Yours with Home Improvements

This summer, we’re offering an introductory rate of 1.99% APR* for the first six months on America First home equity lines of credit. Plus, we’re doing daily loan payment giveaways! Join us in celebrating the season of fun & freedom and make summer yours.

*Annual percentage rate, on approved credit, subject to change. Click here for complete contest rules.

HELOC Summer

Our home equity lines of credit -- or HELOCs -- are open-end loans based on the value of your residence minus your mortgage balance. Eligible members can use these funds for substantial home improvements, large expenses and other needs.

We offer standard options that let you draw from up to 80% of your home's equity, whereas our ideal line allows you to borrow up to 100% of the value.

Other America First HELOC benefits:

  • Low monthly payments
  • Competitive rates
  • Interest paid may be tax-deductible*
  • Free online financial calculators

Ideal for members with at least 20% equity in their home looking for increased short term cash flow. We offer low variable rates with interest-only payments for the first 5 years for greater convenience. Ask one of our representatives about getting started

  • Low interest rates
  • No closing costs
  • Up to 80% loan to value
  • Interest-only payments over a 5-year draw period
  • 10-year repayment period with principal and interest payments based on 10-year term.
  • Available on primary and secondary residences
  • No closing costs
  • High credit-limit potential
  • Interest paid may be tax-deductible*
  • Low monthly payment: $50 or 1.25% of the outstanding balance, whichever is greater
  • Free financial calculators

Applicable terms and conditions

  • Minimum $5,000 loan amount
  • Variable-rate loans may not exceed maximum APR of 18%
  • Reimbursement fee of up to $250 if loan is reconveyed within 24 months.  
  • Home must be located in the state of Utah, Idaho, Arizona or Nevada
  • Homeowner must provide evidence of adequate insurance before disbursal of funds
  • Federal law requires a three-business-day rescission period. Upon expiration of said rescission period, funds will be disbursed unless America First Federal Credit Union receives written notice that the right to rescind has 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
  • No closing costs
  • High credit-limit potential
  • Low variable interest rates
  • Interest paid may be tax-deductible*
  • Low monthly payment: $50 or 1.25% of the outstanding balance, whichever is greater
  • Free financial calculators

Applicable terms and conditions

  • Minimum $5,000 loan amount
  • Variable-rate loans may not exceed maximum APR of 18%
  • Reimbursement fee of up to $250 if loan is reconveyed within 24 months.  
  • Home must be located in the state of Utah, Idaho, Arizona or Nevada
  • Homeowner must provide evidence of adequate insurance before disbursal of funds
  • Federal law requires a three-business-day rescission period. Upon expiration of said rescission period, funds will be disbursed unless America First Federal Credit Union receives written notice that the right to rescind has 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
  • Access to all your hard-earned equity
  • Low variable interest rates
  • Interest paid may be tax-deductible*
  • Low monthly payment: $50 or 1.25% of the outstanding balance, whichever is greater
  • Free financial calculators

Applicable terms and conditions

  • Minimum $5,000 loan amount
  • Variable-rate loans may not exceed maximum APR of 18%
  • Reimbursement fee of up to $250 if loan is reconveyed within 24 months.  
  • Home must be located in the state of Utah, Idaho, Arizona or Nevada
  • Homeowner must provide evidence of adequate insurance before disbursal of funds
  • Federal law requires a three-business-day rescission period. Upon expiration of said rescission period, funds will be disbursed unless America First Federal Credit Union receives written notice that the right to rescind has 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

*Please consult a tax advisor regarding the tax deductibility of interest and charges related to your Home Equity Loan.

Product Term APR* As Low As
Home Equity Line 100% LTV 8.74% Variable
No Closing Costs Home Equity Line 50% LTV 3.74% Variable
No Closing Costs Fixed For 5 HELOC 50% LTV 5 Years 4.24% Variable
No Closing Costs Home Equity Line 80% LTV 3.99% Variable
No Closing Costs Fixed For 5 HELOC 80% LTV 5 Years 4.49% Variable
Interest-Only Home Equity Line of Credit 50% LTV 4.49% Variable
Interest-Only Home Equity Line of Credit 80% LTV 4.74% Variable
* The Annual Percentage Rates (APRs) listed are our best rates. Your rate may be higher depending on credit history and underwriting criteria. Homeowner's Insurance is required, and other fees may apply. Consult a tax advisor regarding the tax deductibility of interest related to your Home Equity Loan. Rates and terms are accurate as of Monday, May 24, 2021 and are subject to change. Home Equity Loans and Lines of Credit have a maximum variable APR of 18%. A reimbursement fee may apply if reconveyed within 24 months.

**Discounted Annual Percentage Rates (APRs), may apply on approved credit. Eligibility & conditions apply. Available on 80% or lower loan-to-value (LTV) products. Qualifying members must have current America First long-term or home equity first mortgages. Not available on interest-only & non-owner-occupied HELOCs. Discount remains in effect for loan's full term.

Maximize your Investment

Make the most of the equity you've been building with our loans and lines of credit.