Home Equity Rates

TermInterest RateAPRMonthly Payment per $1,000
Fixed Rate Home Equity Loans
5 Years3.250%3.250%$18.08
10 Years3.375%3.375%$9.83
15 Years3.500%3.500%$7.15
20 Years3.750%3.750%$5.93
Rates are effective as of June 19, 2020 and are subject to change without notice. Homeowner's insurance and flood insurance (if applicable) are required. Typical legal fees and the recording fee for the new mortgage will be paid by the credit union. Borrower(s) will be responsible for any applicable fees related to trust review, subordination, discharges, etc., as well as any applicable fee for an appraisal. The minimum loan amount is $10,000.00 and the maximum loan amount is $250,000 and will be secured by 1-4 family, owner-occupied homes. The maximum loan to value (LTV) for a 1st lien home equity loan is 80%. The maximum combined loan to value (CLTV) for a 2nd lien home equity loan is 80% if the 1st lien is held by Polish National Credit Union; however, the maximum combined loan to value (CLTV) for a 2nd lien home equity loan is 60% if the 1st lien is held by another financial institution. The credit union must be in 1st or 2nd lien position.

All loan applications are subject to credit union underwriting guidelines and property approval. Consult a tax advisor concerning deductibility of interest. You must become a member of the Polish National Credit Union if you are granted a loan and must remain a member for the life of the loan. Membership is attained by opening deposit account and is open to individuals who live, work or attend school in Hampden, Hampshire, Berkshire and Franklin counties in Massachusetts and Hartford, Litchfield and Tolland counties in Connecticut. Please contact a mortgage loan originator for more information.
 Interest RateAPR
Perks Home Equity Line of Credit
During Introductory Period1.500%1.500%
Variable Rate After Introductory Period - Currently4.250%4.250%
Rates are effective as of May 1, 2020 and are subject to change without notice. The introductory rate of 1.50% is fixed for the first six (6) months after loan opening. After the introductory period, the interest rate will be variable and equal to an Index minus 0.25%. The Index is the Prime Rate published daily in the Money Rates column of the Wall Street Journal. The current Prime Rate is 3.25%. The Annual Percentage Rate (APR) may increase or decrease each month if the Prime Rate changes throughout the term of the loan and is subject to change without prior notice. The maximum APR is 18% and the minimum APR after the introductory period is 4.25%. The Draw Period is ten (10) years and the Repayment Period is twenty (20) years. The total term is thirty (30) years. Monthly payments of interest only calculated on the amount advanced will be required during the Draw period and monthly payments of principal and interest will be required during the Repayment period. Homeowner's insurance and flood insurance (if applicable) are required. Typical legal fees and recording fee for the new mortgage will be paid by the credit union. Borrower(s) will be responsible for any and all fees (as applicable) related to trust review, subordination, discharge, etc., as well as any applicable fee for an appraisal. The minimum credit limit is $10,000 and the maximum credit limit is $250,000 and will be secured by 1-4 family, owner occupied homes. The maximum loan to value (LTV) for a 1st lien HELOC is 80%. The maximum combined loan to value (CLTV) for a 2nd lien HELOC is also 80% if the 1st lien is held by Polish National Credit Union; however, the maximum combined loan to value (CLTV) for a 2nd lien HELOC is 60% if the 1st lien is held by another financial institution. The credit union must be in either 1st or 2nd lien position. An early termination fee may apply. Ask us for details.

All loan applications are subject to credit union underwriting guidelines and property approval. Consult a tax advisor concerning deductibility of interest. You must become a member of the Polish National Credit Union if you are granted a loan and must remain a member for the life of the loan. Membership is attained by opening deposit account and is open to individuals who live, work or attend school in Hampden, Hampshire, Berkshire and Franklin counties in Massachusetts and Hartford, Litchfield and Tolland counties in Connecticut. Please contact a mortgage loan originator for more information.

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For more information about accounts and services, find a branch nearest youuse our Contact Form, or call us at (413) 592-9495.

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