Mortgage Documentation & Information
Home Equity Line of Credit
Adjustable
Maximum loan amount: $350,000
Maximum loan to value ratio:
- 80%
Term:
- 180 Month Draw Period
- 10 Year Repayment after draw period
Closing Costs:
- TFCU will pay the closing costs (never includes pre-pay items)
- up to $75,000 (minimum advance $5,000)
- TFCU will pay the closing costs (never includes pre-pay items)
- $75,001 up to $250,000 (minimum advance $60,000 must maintain minimum balance of $50,000 for 24 months to avoid repayment of closing costs)
- $250,001 up to $350,000 (minimum advance $100,000 must maintain minimum balance of $80,000 for 24 months to avoid repayment of closing costs)
Appraisal Fee:
- Equity Loans with loan to value greater than 60% and/or loan amount of $250,000 or greater will require an appraisal.
