Borrow from the value in your home and obtain the funds that you need to afford various expenses. We offer several home equity lending options that can support your financial needs. Our fixed rate first and second position home equity loans provide a pre-determined sum of money at closing while a flex line home equity line of credit (HELOC) is a form of revolving credit that you can use and repay as needed.

First Position Home Equity Fixed Rate Loans

Effective Date: Thursday, October 18, 2018

First Position Home Equity Fixed Rate Loans

LTVMinimumMaximum*Term1st Position Loan Rate1st Position Loan APR1st Position Payment Per $1,000 Borrowed
80%$5,000.00$250,000.005 Year3.500%3.703%$18.19
80%$5,000.00$250,000.0010 Year4.000%4.106%$10.12
80%$5,000.00$250,000.0015 Year4.500%4.575%$7.65
80%$5,000.00$250,000.0020 Year5.000%5.060%$6.60
85%$5,000.00$250,000.005 Year4.000%4.204%$18.42
85%$5,000.00$250,000.0010 Year4.500%4.607%$10.36
85%$5,000.00$250,000.0015 Year5.000%5.076%$7.91
85%$5,000.00$250,000.0020 Year5.500%5.567%$6.88
90%$5,000.00$250,000.005 Year4.500%4.705%$18.64
90%$5,000.00$250,000.0010 Year5.000%5.108%$10.61
90%$5,000.00$250,000.0015 Year5.500%5.577%$8.17
90%$5,000.00$250,000.0020 Year6.000%6.062%$7.16

APR: Annual Percentage Rate is based on a $100,000.00 loan amount, unless otherwise noted.

Fees vary and are due at application.

Payments do not include amounts for taxes and insurance premiums, if applicable. The actual payment obligation will be greater. 

Rate Lock Policy: LFCU will rate lock for 60 days for a fee of $500.00 and is refunded upon receipt of closing from attorney; fee is non-refundable on withdrawn applications; fee and rate lock are forfeited on loans closed after the 60 day period; fee is automatically refunded on denied applications.

Certified appraisal required – appraisal fee paid by member; LFCU must retain the first position mortgage on Home Equity Loans over 80% or a CAP of $25,000.00 total loan amount applies; all fees covered by borrower on home equity loans outside the State of Massachusetts.

NON-Owner Occupied (considered COMMERCIAL) annual percentage rates are available upon request; rate is equal to 1.75% above quoted rates above (REQUIRES title rundown and title insurance; all fees covered by borrower ONLY).

Second Position Home Equity Fixed Rate Loans

Effective Date: Thursday, October 18, 2018

Second Position Home Equity Fixed Rate Loans

LTVMinimumMaximum*Term2nd Position Loan Rate2nd Position Loan APR2nd Position Loan Payment per $1,000 Borrowed
80%$5,000.00$250,000.005 Year3.750%3.953%$18.30
80%$5,000.00$250,000.0010 Year4.250%4.357%$10.24
80%$5,000.00$250,000.0015 Year4.750%4.825%$7.78
80%$5,000.00$250,000.0020 Year5.250%5.31%$6.74
85%$5,000.00$250,000.005 Year4.250%4.454%$18.53
85%$5,000.00$250,000.0010 Year4.750%4.858%$10.48
85%$5,000.00$250,000.0015 Year5.250%5.326%$8.04
85%$5,000.00$250,000.0020 Year5.750%5.811%$7.02
90%$5,000.00$250,000.005 Year4.750%4.955%$18.76
90%$5,000.00$250,000.0010 Year5.250%5.359%$10.73
90%$5,000.00$250,000.0015 Year5.750%5.827%$8.30
90%$5,000.00$250,000.0020 Year6.250%6.313%$7.31

APR: Annual Percentage Rate is based on a $100,000.00 loan amount, unless otherwise noted.

Fees vary and are due at application.

Rate Lock Policy: LFCU will rate lock for 60 days for a fee of $500.00 and is refunded upon receipt of closing from attorney; fee is non-refundable on withdrawn applications; fee and rate lock are forfeited on loans closed after the 60 day period; fee is automatically refunded on denied applications.

Certified appraisal required – appraisal fee paid by member; LFCU must retain the first position mortgage on Home Equity Loans over 80% or a CAP of $25,000.00 total loan amount applies; all fees covered by borrower on home equity loans outside the State of Massachusetts.

NON-Owner Occupied (considered COMMERCIAL) annual percentage rates are available upon request; rate is equal to 1.75% above quoted rates above (REQUIRES title rundown and title insurance; all fees covered by borrower ONLY).

Flex Line HELOC

Effective Date: Thursday, October 18, 2018

Flex Line HELOC

LTVMinimumMaximum *TermRateAPR
80%$10,000.00$250,000.0020 Year 10 Year Draw / 10 Year RepayPrime (-) 0.25%N/A
85% **$10,000.00$250,000.0020 Year 10 Year Draw / 10 Year RepayPrime (+) 0.50%N/A
90% **$10,000.00$250,000.0020 Year 10 Year Draw / 10 Year RepayPrime (+) 1.00%N/A

APR: Annual Percentage Rate is based on a $100,000.00 loan amount, unless otherwise noted. Rate is variable.

Fees vary and are due at application.

Owner-Occupied: Ceiling not to exceed 18.00%; floor not to fall below 5.00% on 80% LTV loans, 5.50% on 85% LTV loans, and 6.00% on 90%** LTV loans.

Rate Lock Policy: LFCU will rate lock for 60 days for a fee of $500.00 and is refunded upon receipt of closing from attorney; fee is non-refundable on withdrawn applications; fee and rate lock are forfeited on loans closed after the 60 day period; fee is automatically refunded on denied applications.

Home Equity Policy: Up to a maximum 90% Loan to Value (LTV).

HELOC Policy: (10) Year Draw Period / (10) Year Repay Period.

Prime Rate as published in the Wall Street Journal: 5.25%.

Exceptions to maximum amount are reviewed/approved by CEO based on member relationship.

**Certified appraisal required – appraisal fee paid by member; LFCU must retain the first position mortgage on HELOC’s over 80% or a CAP of $25,000.00 total HELOC amount applies; all fees covered by borrower on Home Equity loans outside the State of Massachusetts.

Appraisal Fee: $200.00 Drive-By or $350.00 Full (Single Family). Appraisal fee may be higher than $350 depending on the loan amount, geographic area, etc. Annual Fee: $25.00. Estimate of third party fees: $75.00 Discharge Fee. Property insurance will be required.

The minimum monthly payment during the draw period will equal the following: The amount of accrued finance charges on the last day of the billing cycle and will be rounded to the nearest $.01. The minimum monthly payment during the draw period will not reduce the principal that is outstanding on your line of credit. After the draw period ends you will no longer be able to obtain credit advances and must pay the outstanding balance of your line of credit (the “repayment period.”) During the repayment period, payments will be due monthly. The minimum monthly payment will equal the following: The amount of accrued finance charges plus 1/120th of the principal balance outstanding on the last day of the billing cycle, for the last billing cycle in which an advance was made. The minimum payment amount will be rounded to the nearest $.01. The minimum monthly payments may not be sufficient to fully repay the principal that is outstanding on your line of credit by the end of the repayment period. If they are not, you will then be required to pay the entire balance in a single payment. The savings for the HELOC loans is based on lowest available Credit Union APR and assumes your balance remains constant for one year.

NON-Owner Occupied (considered COMMERCIAL) annual percentage rates are available upon request. Rate is equal to prime plus 1.75% on the quoted rates above. Appraisal fees may vary. Requires Title Insurance (REQUIRES title rundown and title insurance; all fees covered by borrower ONLY).

NON-Owner Occupied (considered COMMERCIAL): Ceiling not to exceed 18.00%; floor not to fall below 6.75% on 80% LTV loans, and 7.25% on 85% LTV loans.