| Home Equity Loans | APR | Monthly Payment | |
|---|---|---|---|
| Line of Credit (HELOC) | As low as 8.25%1 | Calculate Your Payment | Apply Now |
| Closed End | As low as 7.734% | Calculate Your Payment | Apply Now |
For current mortgage loan rates please contact us at (602) 264-6421 toll free (866) 264-6421.
- The posted APR’s (Annual Percentage Rate) are based on 80% Combined Loan To Value (CLTV), a 10 year repayment term and a loan amount of $100,000. Your rate may be higher depending upon your credit history and CLTV. Account set-up fees include $250 processing fee, $185 document preparation fee, and $14 flood determination. Additional fees, ranging from $150 – $1,200 may be required for title search and appraisal. A tax service fee of $75.00 will apply if loan is in first lien position. HELOC Only: Rate based on Prime as published in The Wall Street Journal. Rate is variable and may change monthly. Maximum APR is 18% or the maximum permitted by law, whichever is less. The minimum credit advance is $5,000 for the first advance and $500 for each subsequent advance.
What is a HELOC?
A Home Equity Line of Credit (HELOC) is a form of lending based on the value of your home. A HELOC lets you borrow against the equity you have built up in your home. Equity is the value your home has gained + principle payments you have already made.
A HELOC is a revolving line of credit that does not have a set borrowing amount, like a loan would, and instead lets you borrow up to a certain amount.
What is a Closed End Home Equity Loan?
A Closed End loan is a loan, still based on the equity you have built up in your home, that has a fixed amount, fixed payments and a fixed repayment schedule.
Should I Choose a HELOC or a Closed End Home Equity Loan?
Which home equity funding is right for you depends on your needs. If you have an exact amount you would like to borrow in mind, you may be more fit for a Closed End loan. If you aren’t sure of your costs, a line of credit may be a better option.
Why Choose Arizona Central Credit Union?
Arizona Central Credit Union has been providing Arizona families in Phoenix and beyond with loans and other financial services since 1939. Whether you already have an account or are just looking to finance a new purchase, Arizona Central, Arizona’s leading local credit union, will be here to safeguard you and help you achieve your goal of financial freedom.
Arizona Central Credit Union has 9 branches throughout Arizona, including Phoenix, Glendale, Tempe, Chandler, Flagstaff, Tucson and Show Low. Members have access to over 30,000+ surcharge-free ATMs nationwide through the CO-OP Shared ATM networks. Arizona Central makes banking accessible & rewarding for all AZ communities.
