Home Equity Line of Credit
Summertime is the right time for home remodeling!
Temperatures are rising and rates are falling.
Stay cool with these hot rates!
Open a Tech CU Home Equity Line of Credit—with an everyday rate as low as Prime Minus 0.50%* (currently 4.50% APR*).
With a rate this low and no closing costs or annual fees**, Tech CU’s Home Equity Line of Credit is like a cool breeze on a hot summer day!
- Quick turnaround: Quick turnaround: We can have papers ready to sign within 5 days. And if you can’t get to ouroffices, we’ll bring them to you!
- Break free from the fee: Break free from the fee: If your current lender charges an early closure fee, we’ll pay it up to $500†.
- Convenient access: Convenient access: You’ll receive free convenience checks to access your line, and you can set up your equity line as an overdraft source for your Tech CU Checking account.
Turn your home into your dream home—with Tech CU!
Whether you’re dreaming about colorful new landscaping, a fresh coat of paint outside, or a contemporary update to your bath or kitchen, Tech CU’s low rate and fees will help you feel great. And if you live, work, or study in the six Bay Area counties‡, you’re eligible to join! For more information about membership or our home equity line of credit, call us at (800) 553-0880.
Possible Rate Discount:
Home Equity Lines of Credit features:
- No Cost Loans1—no application fees, no closing costs, and no annual fee
- Use only the funds you need—pay interest only on what you use
- Available as an overdraft protection source for any Tech CU checking
- Access funds anytime through Online Banking, Call-24 Phone Banking, and convenience checks
- Available for owner-occupied properties in California of 1-4 units
- Interest-only payments for the first 10 years of the loan, then fully amortized to include principal and interest over the next 15 years
- For more information, see the Home Equity Line of Credit Disclosure
*Loans available for California 1–4-unit primary residences only. Rates as of 5/24/2008. Rates and terms are subject to change without notice. Additional terms and conditions may apply. Rate includes the 0.25% standard discount and 0.25% discount for Premier Relationship Rewards level, which requires an aggregate balance of loans and deposits with Tech CU of $100,000 or higher. Floor rate: 4.50% APR. Without Relationship Rewards discounts, everyday rate will be Prime minus 0.25%.
**If you close your line within two years of the open date, you will pay $750 to partially reimburse costs we incurred to open the account.
†To qualify, borrower must pay off and close a home equity line with anotherlender and qualify for and open a Tech CU equity line of credit with a minimum $50,000 opening balance. This offer is not valid on existing Tech CU equity lines. Tech CU will pay up to $500 of any early payoff fee imposed by the other home equity line lender. Tech CU will not pay other fees or charges associated with closing the other equity line, such as reconveyance fees, escrow fees, principal or interest payments, or accrued late charges.
‡Eligible counties: Santa Clara, San Mateo, San Francisco, Contra Costa, Alameda, and Santa Cruz.
1No fees are required to establish the line, but if you pay off and close your Equity Line of Credit within 2 years, a $750 early closure fee will apply.
2Maximum loan amount and loan to value (LTV) calculated as a percentage of appraisal minus the first mortgage. Call (408) 451-9111 or (800) 553-0880 for details.
3Current Annual Percentage Rate (APR) determined by the Wall Street Journal Prime rate minus 0.25%.