Home Equity Lines of Credit

Fixed for Five Home Equity Line >>

INSTANT APPROVALS

Ideal for members with at least 20% equity in their home who prefer rates staying fixed throughout their loans' terms. This unique, no-closing-costs line starts with a low rate based on Prime. At the end of the initial five-year period, the rate adjusts, then stays fixed for another five years. This is a great way to fund improvements you plan to pay for quickly or invest in whatever your family needs, with peace of mind regarding market fluctuations.

  • No closing costs
  • High credit-limit potential
  • Low FIXED 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 loan amount of $5,000
  • Variable-rate loans may not exceed maximum APR of 18%
  • Fee of $250 if loan is reconveyed within 24 months
  • Home must be located in Utah, 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 Home Equity Line >>

INSTANT APPROVALS

This option is ideal if you prefer easy access to your funds and the ability to draw as you see fit. And you can do it with no closing costs. You can borrow up to 80% of your home's value, minus your mortgage balance. Other benefits are:

  • 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 loan amount of $5,000
  • Variable-rate loans may not exceed maximum APR of 18%
  • Fee of $250 if loan is reconveyed within 24 months
  • Home must be located in Utah, 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

Home Equity Line of Credit >>

INSTANT APPROVALS

With this loan, you can borrow up to 100% of your home's value, minus your mortgage balance. Credit limits are a generous $25,000, which means you'll have the resources you need... when you need them. Advantages include:

  • Access to all your hard-earned equity: use 100% of your home's value, up to $25,000
  • 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 loan amount of $5,000
  • Maximum loan amount of $25,000
  • Variable-rate loans may not exceed maximum APR of 18%
  • Closing costs are assessed if an appraisal is requested
  • Line of credit also available
  • Fee of $250 if loan is reconveyed within 24 months
  • Home must be located in Utah, 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

Home Equity Rating


Home Rates

Mortgage Rates
Type Rate APR
10 Year Fixed 3% 3.145%
15 Year Fixed 3.375% 3.4756%
20 Year Fixed 4.125% 4.2051%
30 Year Fixed 4.375% 4.4337%
Rates Effective April 23, 2014

Payment Example

Home Equity Rates
Type F/V Term* APR*
No Closing Costs First Mortgage 50% LTV Variable 5 Yrs 2.49%
No Closing Costs First Mortgage 80% LTV Variable 5 Yrs 2.74%
No Closing Costs First Mortgage 50% LTV Variable 7 Yrs 2.75%
No Closing Costs Home Equity Line 50% LTV Variable N/A 2.99%
No Closing Costs First Mortgage 50% LTV Fixed 5 Yrs 2.99%
No Closing Costs First Mortgage 80% LTV Variable 7 Yrs 3%
No Closing Costs First Mortgage 50% LTV Variable 10 Yrs 3%
No Closing Costs Home Equity Line 80% LTV Variable N/A 3.24%
No Closing Costs First Mortgage 80% LTV Fixed 5 Yrs 3.24%
No Closing Costs First Mortgage 80% LTV Variable 10 Yrs 3.24%
No Closing Costs First Mortgage 50% LTV Fixed 7 Yrs 3.25%
No Closing Costs Home Equity Line 50% LTV Fixed 5 Yrs 3.49%
No Closing Costs First Mortgage 80% LTV Fixed 7 Yrs 3.5%
No Closing Costs First Mortgage 50% LTV Fixed 10 Yrs 3.5%
No Closing Costs Home Equity Line 80% LTV Fixed 5 Yrs 3.74%
No Closing Costs First Mortgage 80% LTV Fixed 10 Yrs 3.74%
No Closing Costs First Mortgage 80% LTV Variable 15 Yrs 3.99%
No Closing Costs Home Equity Loan 80% LTV Variable 5 Yrs 4.49%
65% Home Equity Non-Owner Variable 15 Yrs 4.49%
No Closing Costs Home Equity Loan 80% LTV Variable 10 Yrs 4.74%
No Closing Costs Home Equity Loan 80% LTV Fixed 5 Yrs 4.99%
65% Home Equity Non-Owner Fixed 10 Yrs 4.99%
No Closing Costs Home Equity Loan 80% LTV Fixed 10 Yrs 5.24%
No Closing Costs Home Equity Loan 80% LTV Variable 15 Yrs 5.99%
No Closing Costs First Mortgage 80%LTV/Balloon Fixed 20 Yrs 5.99%
No Closing Costs Home Equity Loan 80% LTV Balloon Fixed 20 Yrs 6.99%
Home Equity Loan 100% LTV Variable 15 Yrs 9%
Home Equity Loan 100% LTV Fixed 10 Yrs 9.5%
Home Equity Line 100% LTV Variable N/A 9.5%
Rates Effective April 07, 2014

Payment Example

*Maximum term and lowest rate shown.

Government Loan Rates
Type Rate APR
FHA 30-year 3.875% 4.697%
Utah Housing FHA 4.125% 5.0674%
Utah Housing Score Loan 4.5% 5.5523%
Utah Housing VA 4.125% 4.4031%
VA 30 year 3.875% 4.1186%
Rates Effective April 23, 2014

Payment Example

Specialty Loan Rates
Type Rate APR
Home Construction - Contractor Built 5.25% 11.5513%
Home Construction- Self Build 5.25% 12.6954%
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 March 22, 2012

View rates & terms for other accounts