Home Equity Line of Credit Plan

Variable Rate

  • Minimum: $10,000 credit limit
    Maximum: $250,000 credit limit
  • Variable interest rate tied to Prime Rate (prime +0.50) with an annual cap of 3% and a lifetime cap of 12% subject to change on the 1st day of each month.
  • CURRENT RATE= 5.75%* APR (as low as)
  • Maximum term: 15 years with a ten-year draw period
  • Ask us how much equity in your home is needed (ltv)
  • Payment amount: 1.0% of the out-standing balance ($50 minimum)
  • Annual fee $50
  • Owner occupied properties only
  • Perfect for securing a loan with your home to obtain a low interest rate and the ability for ongoing borrowing, as you need
  • Home Equity Disclaimer (PDF)

Home Equity Line of Credit Plan

Fixed Rate

  • Minimum: $5,000
    Maximum: $250,000
  • Fixed interest rate (the rate will stay the same throughout the life of the loan).
  • CURRENT RATE= as low as 5.25%* APR (Tiered Rates)
  • Maximum term 15 years with a five-year draw period
  • Ask us how much equity in your home is needed (ltv)
  • Payment amount 1.0% of the out-standing balance ($100 minimum)
  • Annual fee: $50
  • Owner Occupied properties only
  • Perfect for securing a loan with your home to obtain a low interest rate and the ability for ongoing borrowing as you need.

Home Equity Fixed Rate Loan (Mortgage Retirement Loan) — up to $250,000

The Mortgage Retirement Loan is intended to help members shorten their mortgage terms to prepare for retirement or just because they want to pay their home off sooner. It’s perfect to consolidate your home equity loans and your first mortgages into one. This loan is a first lien loan- it can not be in second lien. If you are nearing the end of your mortgage, consider this loan

  • Minimum Loan Amount: $20,000
  • Fixed interest rate (the rate will stay the same throughout the life of the loan)
  • CURRENT RATE= as low as 3.75%* APR (Tiered Rates)  7-year amortization as low as 3.75%*, 10-year amortization as low as 4.5%*, 12-year amortization as low as 4.75%*, 15-year amortization as low as 5.00%*
  • Fixed Terms: Minimum 7-year (or 10-, 12-, 15-year). (Sample:  120 monthly payments of $52.44 per $5000 borrowed at 4.75% APR)
  • Ask us how much equity in your home is needed (ltv) (80% ltv)
  • Payment amount: Minimum $50 to principal.
  • Annual fee: $0
  • Flat fee of $395, unless an appraisal is required. If an appraisal is required member is responsible for cost.  Flat fee of $395 should save member between $400 to $700 in loan fees.
  • Owner occupied properties only
  • Perfect for securing loan with your home to obtain a low interest rate for one-time projects or to refinance an existing loan

Home Equity Fixed Rate Loan — over $100,000

The Home Equity Fixed Rate loan can be a first mortgage or a second mortgage. We have a Balloon Payment option available to keep monthly payments more palatable.

  • Minimum Loan Amount: $100,001
  • Fixed interest rate (the rate will stay the same throughout the life of the loan)
  • CURRENT RATE= as low as 4.50%* APR (Tiered Rates)
  • Fixed Terms: Minimum 15 years. (Sample:  180 monthly payments of $739.69 per $100,000 borrowed at 4.00% APR)
  • Balloon payment options may be available. Balloon Terms: minimum 15 years with balloon payment. (Example: 180 monthly payments of $491.94 with a balloon payment due of $65,885.23 borrowed at 4.25% APR).
  • Ask us how much equity in your home is needed (ltv)
  • Payment amount: Minimum $50 to principal.
  • Up to a 30-year amortization on balloon options
  • Annual fee: $0
  • Owner occupied properties only
  • Perfect for securing loan with your home to obtain a low interest rate for one-time projects or to refinance an existing loan

Home Improvement Line of Credit Plan

  • Minimum: $5,000 credit limit
    Maximum: $30,000 credit limit
  • Variable interest rate tied to Prime Rate (prime+ 3.0) with an annual cap of 3% and a lifetime cap of 9% subject to change on the 1st day of each month.
  • CURRENT RATE= 7.50%* APR
  • Maximum term: 10 years with a two-year draw period
  • No equity in your home required
  • Payment amount: 1.5% of your outstanding balance ($100 minimum)
  • Annual fee $0
  • Loan processing fees: $0 to member, Credit Union pays for you
  • Owner occupied properties only
  • Perfect for small home improvement projects with no fees!

*Rates shown are Annual Percentage Rates (APR). Rates will vary depending on credit condition, term of loan, lien position and payment option. All Loans are subject to approval. Regular terms and conditions apply. Rates shown are subject to change without notice. See our Home Equity disclosure for details or call us at 800-477-3328. Loan terms available may vary depending on amount borrowed, credit history, or payment method. Call or see branch for details. PCFCU is an Equal Opportunity Lender. See your professional tax advisor for tax advantages, advice and/or question(s)..

Visit one of our branches today and speak with an experienced member service person to help match the best product for your current needs.