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TrueCore Federal Credit Union

Home Equity Loans

What is a Home Equity Loan?

 
A home equity loan is a type of loan in which the borrower uses the equity of his or her home as collateral. The loan amount is based on the value of your property as determined by an appraisal of the property, ordered by TrueCore.  Home equity loans are often used to finance major expenses such as home repairs, medical bills, or college education.
 

Home Equity Rates

Now even lower!
 
Loan Type Term As low as
Fixed Rate Home Equity
85% LTV*
Up to 60 Months 3.49% APR
Fixed Rate Home Equity
Up to 85% LTV*
61 - 84 Months 3.99% APR
Fixed Rate Home Equity
Up to 85% LTV*
85 - 120 Months 5.49% APR
Home Equity Line of Credit Up to 85% LTV** 5 year draw
15 year amortization
Rates as low as 5.00% APR,
(Prime - .25%) Today's Prime Rate = 5.25%
*Fixed second mortgage loans. Annual Percentage Rate (APR) as low as 3.49% for qualified members. Rates may vary based upon one or more of the following: credit rating and value of collateral. Minimum APR is 3.49%.  Maximum (loan to value) LTV is 85%, 90% LTV with a rate increase of .25%. Owner occupied properties only. Rates are subject to change. Example - $717.08 payment on a $40,000 loan, 60 months with a 2.90% rate. No application or processing fee.  Equal Housing Lender. TrueCore Federal Credit Union, 215 Deo Drive, Newark, Ohio 43055. NMLS# 470044 
 
**Home Equity Lines of Credit (HELOCs) are variable rate products. Annual Percentage Rate (APR) as low as 5.00% for qualified members. Rates may vary based upon one or more of the following: credit rating and value of collateral. Minimum rate is 5.00%. Maximum rate is 18.00%. Maximum LTV (Loan to Value) is 85%, 90% LTV with a rate increase of .25%. Owner occupied properties only. No application or processing fee. Rate will be published in The Wall Street Journal. Variable rates may be adjusted quarterly by applying the predetermined margin to the index published 15 days prior to the change date. Example - $102.74 payment on a $25,000 initial draw with a 5.00% rate (payments adjust with rate increases, minimum payment $50).  If line is closed within the first 36 months, member will be responsible for paying all fees associated with obtaining the loan. Equal Housing Lender. TrueCore Federal Credit Union, 215 Deo Drive, Newark, Ohio 43055. NMLS# 470044
 
 
Revised August 8, 2019
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Apply for a Loan

 
Expect low-rate loans for every occasion from your partners at TrueCore. An easy online application is available for your convenience.
 
TrueCore Federal Credit Union

TrueCore Foundation

 
Giving back to the community has always been a priority at TrueCore. Learn more about our 501 (c)(3), non-profit organization.