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Montana Credit Union is excited to offer a home equity line of credit introductory rate for 36 Months, effective June 1, 2020. Please see details below!

 

Key Features

  • Competitive Rates
  • Customized Terms
  • Local Decisions
  • Convert the equity in your home into cash you can use
  • Competitive rates for several short-term or long-term needs:
    • Major life events
    • Home remodel projects
    • Debt consolidation
    • And much more!
  • The existing equity in your home is used as collateral backing
  • Accommodating repayment terms that work uniquely for you, with loan terms up to 15 years
  • The interest paid might be tax deductible*
  • Debt protection available
  • Local North Central Montana decision-making and processing
  • Helpful, customized service throughout the entire process

Want to know more? Email a representative to schedule an appointment!

Turn the hidden equity in your home into an ongoing source of funding for almost anything.

  • Convert the equity in your home into ongoing, affordable financing
  • Competitive rates for several ongoing or seasonal needs:
    • Education expenses
    • Major life events
    • Major home improvements
    • Debt consolidation
    • Emergency reserve
    • And much more
  • The existing equity in your home is used as collateral backing
  • Accommodating repayment terms that work uniquely for you
  • Funds available anytime without reapplying; apply once, then use repeatedly thereafter
  • Revolving credit — as principal is repaid, more becomes available for use
  • Funds easily available via in-person or phone transfers to a specified Montana Credit Union checking account
  • The interest paid might be tax deductible*
  • Debt protection available
  • Local North Central Montana decision-making and processing
  • Helpful, customized service throughout the entire process

2.99% APR 36 Month Introductory Rate Information

2.99% APR for the first 36 months; 4.00% is the lowest regular APR that would apply if the promotional rate was not offered. All loans subject to credit approval, not all applicants will qualify. The regular APR is based on the index prime rate published in the Money Rate Table of the Wall Street Journal on the first day of each billing cycle (monthly). The promotional rate is not based on the index and margin used for later rate adjustments. Prime rate is a variable rate and is currently 3.25%; as it changes, the APR on your home equity line of credit will change annually. The most the APR can change annually is 2.00%. This promotional rate is effective as of June 1, 2020. At the end of promotional period, the APR will be based on the prime rate plus a margin of up to 3.50%. If the promotional rate was not offered, the present APR could be as much as 6.75%. The maximum APR that can apply is 10.50%. A home equity line of credit is secured by a first or second mortgage lien on your primary home, which must be a one-to-four family residential property. Offer not available for modular homes, manufactured homes, or cooperatives. There are loan fees and closing costs due at closing. These vary depending on the amount of the loan.  Flood and/or property hazard insurance may be required. All credit union loan programs, rates, terms, and conditions subject to change without notice and may vary based on credit worthiness and qualifications. Other restrictions may apply. Other rates and terms available. Equal Housing Lender. Federally Insured by NCUA.

*Consult a tax advisor.