- Mortgage amounts from $2,000 to $500,000
- Up to 80% Loan-To-Value (LTV)*
- Low, fixed rates
- Convenient terms available from 36 to 240 months
- No closing costs*
- No application fees or origination points
- Loan terms to meet your needs
- Potential tax benefits
- Receive Gold REWARDS with a Second Mortgage!
Convenient Loan Repayment Options
- Use QuickPay to pay your Credit Union loan using a credit card, your iTHINK Financial account, or an external account. Schedule one-time or recurring payments from your computer or phone 24/7.
- Transfer your payment from your account at another financial institution using eTransfers or contact us to set up a recurrent Direct Payment.
- Set up recurring scheduled automatic transfers from your Credit Union checking or savings account to your loan by using Online Banking.
- Make one-time transfers from your Credit Union checking or savings account to your loan by using Online Banking or our Mobile Banking App.
- Make payment by mail or at a branch or at a CO-OP Shared Branch.
- Set up email or text alerts through eAlerts for convenient payment reminders.
Prime rate index at effective date:
*APR=Annual Percentage Rate. Rates subject to change without notice. Actual loan rate will be based upon the borrower(s) creditworthiness, LTV, and term. Minimum credit score of 660 required. Rates subject to change without notice. The APR is the cost of the loan in percentage terms taking into account various loan charges of which interest is only one such charge. The APR on all 2nd Mortgage products is equal to the stated rate based on the following: The Credit Union will pay your closing costs on loans up to $100,000. For loans $100,001 or more, the borrower pays closing costs and APR will vary from stated Rate. If the Second Mortgage or Home Equity Line of Credit is discontinued or paid off within three years and the credit union paid your closing costs, you will reimburse the credit union the actual closing costs, not to exceed $1,200. $325 minimum Appraisal Fee when tax assessment or automated value analysis does not meet desired equity or loan amount is greater than $250,000. Hazard, flood and other applicable insurances may be required. All iTHINK Financial real estate loans are subject to income verification and credit approval. For more information contact a Mortgage Advisor for full details on the rates, terms, fees and conditions that may apply. Certain states may not be eligible. The floor interest rate on the HELOC is 4.00% with a maximum cap of 18.00%.
**LTV = Loan To Property Value
***Approval time begins when all supporting documentation is received by Loan Officers.
†For the Fixed Rate Second Mortgage Owner Occupied loan, if the LTV exceeds 80% then the maximum loan term is 10 years. If the LTV is 80% or less, the maximum loan term is 20 years.
The following are variable rate loans:
Second Mortgage-variable (also known as the Home Equity Line of Credit). The APR may change the first business day of each calendar month. The APR could change based on the movement of the Prime Rate as reported in The Wall Street Journal the last business day of each calendar month. If there is more than one such rate reported, the highest rate shall be used. The finance charge for every $1 in the daily balance, as well as the number of loan payments, may increase or decrease if the index rate, (Prime Rate), rises or falls by 1/8 of one percent or more, respectively.
A change in the index of one percentage point will result in one percentage point change in the same direction in the loan’s APR.