Home Equity Loans
- Rates starting as low as 4.00% APR
- Low Closing Costs, or No Closing Costs Option
- Interest-Only Option
- Fast Approval!
- Contact the Mortgage Dept. to apply or for more information on Home Equity Loans from Florida Telco. Call (904) 720-1758, or email us at mortgage@floridatelco.org
| Fixed Home Equity Rates (as low as) & Terms as of 7/1/09 |
Rate |
APR |
| 10 year fixed | 6.00%
|
6.00%
|
| 15 year fixed | 6.24% |
6.24% |
| 20 year fixed | 6.99% | 6.99% |
APR based on loan amount of $50,000 APR based on no closing costs option. Rates above are based on
80% combined loan-to-value. Financing available up to 80% loan-to-value. |
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| Home Equity Line of Credit Rates as low as: | ||
4.00%* |
4.00%* |
|
4.00%**
|
4.00%**
|
|
4.74%*** |
4.74%*** |
|
*Variable rate feature: rate stays the same for 1 year, then adjusts every January & July, based on Prime plus a margin of .24%. The margin used will depend on your individual creditworthiness. Initial rate based on Prime as of 6/1/09. Maximum rate 16%, Floor rate of 4.00% is in effect.. **Variable rate feature: rate changes when Prime changes, based on Prime plus zero, with a floor rate of 4.00%.The margin used will depend on your individual creditworthiness. Initial rate based on Prime as of 12/16/08. Floor rate of 4.00% is in effect. Maximum rate 16%. ***Variable rate feature: initial rate will be in effect for 3 years, then adjusts every January & July, based on prime plus a margin of 1.49%. The margin used will depend on your individual creditworthiness. Initial rate based on prime as of 6/1/09. Maximum rate is 16%, Floor rate of 4.00%. |
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No closing costs option when you receive an initial advance of at least $10,000. If you close your account or pay more than the minimum payment during the first 12 months, we will add any closing costs we paid on your behalf to your outstanding balance.
|
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| Unimproved Property | ||
| 80% or lower loan-to-value, 12 year term | 8.50% | 8.767% |
| up to 85% loan-to-value, 12 year term | 9.50% | 9.774% |
APR = Annual Percentage Rate. Individual rates are based on certain creditworthiness criteria and may differ from those advertised.