First Entertainment Credit Union

HELOC Can Make Your House Better


HELOC is HereYep, HELOC is here. HELOC helps you find cash hidden in your house! Well, sort of. If your home has equity, you may be able to use that equity to build your dream kitchen, or remodel a bath, or even build a new deck or patio.

What can you do with HELOC? With rates as low as 4.0% APR,* just about anything!

HELOC is powerful. HELOC is simple. It's First Entertainment's Home Equity Line of Credit. With HELOC you could have access to cash, up to $250,000†† to help you start that important project.

If you're a First Entertainment Credit Union member, you pay no points, no application or processing fees, and no appraisal fee or closing costs! You may even enjoy a nice tax break.** APPLY NOW!

Not a member yet? That's easy too. Apply for membership today!

Get ready to make your house better. HELOC has come to help.

HELOC chart

* APR = Annual Percentage Rate. Member's actual rate determined by credit history, loan-to-value and owner occupancy, using the Wall Street Journal Prime Rate plus applicable margin. As of 8/27/13 in the Wall Street Journal, the Prime Rate was 3.25%, but may vary monthly. Based on a minimum FICO score of 720, the minimum start rate is 4.00% APR with a 60% or less combined loan-to-value; 4.25% APR with a 60.01% –70% combined loan-to-value; 4.75% APR with a 70.01% – 80% combined loan-to-value. Other APRs may apply to your account based upon credit history, FICO score, combined loan-to-value and occupancy. Maximum APR is 18%. No points, appraisal fees, or closing costs for loans up to $250,000, in 2nd lien position on owner-occupied single unit properties. Costs may apply in situations for multi-units or in 1st lien position and for loan amounts $250,001 to $500,000. A $50 annual fee applies to all HELOCs but is waived for the first year. Should you close your HELOC within 36 months of the open date, a $300 Cancelation fee will apply. All loans are for California properties only. All applications are subject to credit approval and verification of application information. All home loan programs, rates, terms and conditions are subject to change without notice. Consult your tax advisor regarding deductibility of interest. Property insurance is required.

** Please consult your tax advisor.

† CLTV = Combined Loan-to-Value ratio. CLTV is calculated by adding the balance of your first mortgage and the credit limit of your HELOC together, and dividing by the value of your home. Example: $100,000 first mortgage plus $50,000 HELOC limit divided by $300,000 home value equals 50% CLTV.

†† (For HELOCS over $250,000 please call 323.845.4411 for a quote.)


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