HELOC Disclosure


3.95% APR1

Introductory Fixed Rate For The First 12 Months

5.00% – 7.00% APR

Current Variable Rate


GMFCU 12 Month Intro Rate HELOC Loan 3.95%

1APR=Annual Percentage Rate. Rates are variable and accurate as of 03/15/2019. Introductory rate is applicable for first 12 months of loan. Rate is subject to change and is subject to credit qualifications. No additional discounts. Had there not been a rate discount, the applicable rate would have been 5.50% -7.00% depending on credit. The maximum payback period for the loan is 240 months. The maximum draw period is 120 months. After the Introductory Period, the APR may adjust semi-annually in the months of January or July during the life of the loan based on the Prime Rate published in The Wall Street Journal, plus a margin that is based on credit worthiness. Maximum APR is 18.00%. After the introductory period the minimum APR is 5.00%. If loan is paid off and closed within 24 months from opening of loan, member must reimburse the credit union for fees paid. These are currently estimated at $650.00-$900.00. Minimum advance of $5,000.00 is required at loan closing. Consult a tax advisor concerning tax deductibility. Membership eligibility required. Restrictions apply. Contact GMFCU for details.