*APR: Annual Percentage Rate. Rate effective as of February 22, 2016 and subject to change. The introductory rate of 2.25% will be in effect until three months from the date the line is opened. **After, the rate may increase and is a variable APR which becomes adjustable monthly based on Prime Rate (currently 3.50% APR) as published in The Wall Street Journal, minus 0.25 basis points, with a maximum of 18%. and a minimum 2.75%. Loan amount $20,000 – $250,000 with a maximum LTV of 80%. Appraisal fee: $250.00 Drive-by or $350 Full (Single Family). Annual fee: $25.00. Estimate of third party fees: $75.00
Discharge Fee. Tax fee: $83. Property insurance will be required. Offer is for new money loans only. Introductory rate requires a $20,000 draw to be taken at closing. You must become a member of LFCU if you are granted a loan, and remain a member for the life of the loan. Membership is attained by making a $5.00 deposit into a savings account and is open to individuals who live, work, worship, or attend school in, and businesses or other legal entities located throughout Hampden County.