Central Willamette Community Credit Union
Home Equity Loan Rate Schedule
EFFECTIVE: January 1, 2009
| Type | Fee |
|---|---|
| Equity Advantage: | Annual Percentage Rate range is 6.00% to 8.50% |
| Credit criteria determines the pricing adjustment | |
| made to the base Annual Percentage Rate of 6.50%. | |
| Home Equity Line of Credit Fixed for 5 years | The Annual Percentage Rate range is 5.00% to 9.75% at the time of opening for the first 5 years. After that, the Periodic Rate and corresponding Annual Percentage Rate will be adjusted in accordance with the variable rate terms shown below. |
| Plus Line: | Annual Percentage Rate range is 3.00% to 5.25% |
| Max Line: | Annual Percentage Rate range is 3.00% to 5.25% |
| Investor Line: | Annual Percentage Rate range is 6.75% to 8.00% |
| Credit criteria determines the margin added to the | |
| Prime Rate as published in the Wall Street Journal | |
| (Western Edition) 15 days prior to the first day of each month. | |
| Current Prime Rate is 3.25% |
Annual Percentage
| Annual Percentage Rate | Periodic Rate | |
|---|---|---|
| 3.00% | 0.008219% | |
| 3.50% | 0.009589% | |
| 3.75% | 0.010274% | |
| 4.00% | 0.010959% | |
| 4.25% | 0.011644% | |
| 4.75% | 0.013014% | |
| 5.25% | 0.014384% | |
| 6.00% | 0.016438% | |
| 6.25% | 0.017123% | |
| 6.75% | 0.018493% | |
| 7.00% | 0.019178% | |
| 7.25% | 0.019863% | |
| 7.50% | 0.020548% | |
| 8.00% | 0.021918% | |
| 8.50% | 0.023288% |
The Periodic Rate and ANNUAL PERCENTAGE RATE (for fixed rate loans), or the margin added to the index to determine the ANNUAL PERCENTAGE RATE (for variable rate loans), that will apply to your account may be based on a number of criteria, including your employment and residential status, current debt ratio, and your past credit experience. The maximum ANNUAL PERCENTAGE RATE that may apply over the life of the loan is 21%. For a $10,000.00 credit line the aggregate Credit Union and third party fees are estimated to be $240.00 - $1,035.00.
Your ANNUAL PERCENTAGE RATE will be disclosed on the Funds Advance Voucher provided at the time your loan account is opened.
$50.00-Annual Fee will be charged on the first business day in January for the Max Line, Plus Line and Home Equity Line of Credit Fixed for Five Years.
For Real Estate Loan rates, call (541) 918-7524 or (800) 950-4536 toll free.
A default Annual Percentage Rate of 21% will be applied to all Home Equity Loans that become 60 days past due. This default rate remains in effect until the loan has a positive repayment history for 180 days with no delinquency greater than 10 days.
The Credit Union may offer other rates in the future.
