Finance

Jun 11 2017

Home Equity Loan – Lines of Credit #get #a #loan

#home equity loan rates
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Finance Your Home with an RTN Home Equity Loan

Let Your Home Work For You

RTN offers lines of credit up to $250,000 on a home equity loan and home improvement loans.

With the funds available from the equity in your home, you can finance a college education, pay off other high-interest rate loans or credit cards or build that addition you ve wanted.  You may even take a substantial tax deduction for the interest paid on a home equity loan. Check with your financial advisor to be sure.

FLEX Life Home Equity Line of Credit

A home equity loan that does more than just home improvement

Looking for a great rate on a home equity loan?  Take advantage of RTN’s FLEX Life Home Equity Line of Credit!

Qualified members can receive the low variable rate of 0.50% below the prime lending rate (as published monthly in the Wall Street Journal ).  The minimum Annual Percentage Rate (APR) is 2.75%.

And what’s really special is this discounted variable rate is good for the life of the loan.

Members who have a minimum credit score of 680 and direct deposit of at least $500 per month to an RTN account are eligible for FLEX Life. Members who do not qualify for FLEX Life may be eligible for other options.

  • This rate is subject to change monthly. The minimum rate is 2.75% APR.
  • Lines of credit are available from $25,000 to $250,000.
  • Available on 1- to 4-unit residential properties located in Massachusetts, Maine, New Hampshire and Rhode Island.
  •  Members will receive a checkbook in order to take advances at their discretion.
  • There are no closing costs with an initial advance of $25,000 or more (outstanding for six months) and with direct deposit to the Credit Union of pay or retirement benefits of $500 or more each month
  • Members have loan payment flexibility as the monthly payment is only the greater of $100 or the amount of interest accrued during the previous month for the first 10 years

Fixed Rate Home Equity Loans

  • Up to 20 year terms
  • Borrow from $15,000 to $250,000
  • Borrow up to 80% of your home s value or condominium (using the Automated Value Method or AVM), less your present mortgage; up to 85% if your first mortgage is with RTN
  • Current rates




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