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Ronald C., Grip (Local 80)

Home Equity Loans and Lines of Credit

UNLOCK HOME WEALTH

To keep success on your side.

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ENJOY A 7% APR INTRODUCTORY INTEREST RATE ON A HELOC.

For a limited time, you can save with a low 7% APR1 introductory HELOC offer when you set up direct deposit into a Value Checking account.

Home Equity Loans

Home Equity Loans are the easy and stress-free financial tool for homeowners looking for a fixed rate and fixed monthly payment for the life of their loan.

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Robust Financing

Projects can be expensive. Get it done with loan amounts from $25,000 up to $500,000.2

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Favorable Terms

Borrow with the confidence that a great loan provides. We offer terms of up to 20 years for fixed Home Equity Loans.

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Great Rates

Take care of expenses with competitive rates and transparent terms. Rely on First Entertainment to bring you the best financing rates available.

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Home Equity Line of Credit (HELOC)

A Home Equity Line of Credit (HELOC) is another great way to access funds for big-ticket expenses. From home remodeling, education expenses, vacation funding, to a reliable “back-up” plan during hiatus, a HELOC from First Entertainment brings it all within reach.

A few features of our HELOC include:

  • Financing from $25,000 to $500,0003
    • No annual fee
    • No early closure fee
    • Low-cost, one-time origination fee of $300 for loan amounts of $25,000 to $250,000
    • Low-cost, one-time origination fee of $600 for loan amounts of $250,001 to $500,000
  • Competitive rates based upon creditworthiness, current ability to repay (ATR), property condition, and risk factors4
  • 25 Year Loan: 10-year draw period with minimum interest only payment; 15-year principal and interest repayment.
  • Immediate access to your funds via Digital Banking or HELOC checks
  • Investment property financing is also available5
  • Maximum years to repay: 10-year draw/15-year repayment
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Disclosures

Equal House Lender
1
You must maintain at least $1,000 in qualifying monthly direct deposits into your Value Checking account to be eligible for the listed benefits. The qualifying direct deposits must come from a payroll source added to an active First Entertainment Value Checking account. A grace period of up to 90 days will be provided to accommodate gaps in employment. Should the grace period lapse, and you no longer meet the requirement, you will not be eligible for the listed benefits again. Home Equity Lines of Credit (HELOCs) are limited to one initial grace period of 90 days from taking out the loan to meet the direct deposit requirements. Advantage, Youth, and Business Checking accounts do not qualify. ATM fee rebates will be deposited into your Value Checking account at the end of each month based upon the amount of non-First Entertainment ATM surcharge-fees charged to the account. The maximum total ATM fee rebate is $15 per account, regardless of the number of joint owners or debit cards issued. Proceeds from the HELOC loan must be set up in a First Entertainment Value Checking account and meet the direct deposit requirements stated above within 90 days of funding the loan to qualify for the discount. Should you not meet this requirement, you will not be eligible for the listed benefit during the life of your loan, and the promotional 6-month rate offer will revert to the fully indexed rate of the loan. Offer is valid on new HELOC loans applications, between October 15, 2024 through December 31, 2024 only. Existing First Entertainment HELOC loans funded prior to October 15, 2024 do not qualify for this promotion.
 

The promotional rate is 7% and is effective for 6 months after the loan funding date. After six months the rate will revert to Prime rate + applicable margin noted on the Home Equity Addendum.

2
First Entertainment offers Home Equity Loans on owner-occupied single-family primary residences for loan amounts from $25,000 – $500,000. Loan amount is $250,000 if over 80% combined loan-to-value (CLTV). The maximum CLTV for Home Equity Loans on a non-owner-occupied property is 60% with loan amounts from $25,000 – $250,000. Purchase Money Fixed Equity Loans have a maximum loan amount of $250,000
3
First Entertainment offers HELOCs on owner-occupied single-family primary residences for loan amounts from $25,000- $500,000 up to 80% of your combined loan to value (CLTV) and for loan amounts from $25,000 to $250,000 up to 90% CLTV. The Maximum CLTV for HELOCs on a non-owner-occupied property is 60% with loan amounts from $25,000 to $250,000.
4
The First Entertainment HELOC is an adjustable-rate loan. The HELOC rate, based on the current Prime Rate as published in the Wall Street Journal (the Index) plus a Margin. Current HELOC rates are available here or by calling the Credit Union at 888.800.3328. Loan origination fees ranging from $300 to $600 for opening a HELOC may be charged.
5
Certain terms and conditions may apply. Contact the Real Estate department at 888.800.3328 for details.