It’s time to put your home equity to work for you. With a Leaders Credit Union HELOC, you can get up to $150,000 for home improvements or anything you choose.
1. - Best Loan Pricing Guarantee only applies to conventional purchase mortgages or refinanced mortgages on your primary residence. To qualify for this guarantee, the following must be met: (1) you must provide a locally-based, licensed lender's system-generated locked Loan Estimate (LE) stating the specific lender's name and dated within 1 business day of the pricing quoted by Leaders Credit Union (Leaders); (2) LE must have pricing for the same loan program offered by Leaders and such pricing must be equal to or less than the pricing quoted by Leaders; and (3) Leaders must be able to verify the accuracy of the other lender's pricing as stated on such LE. If you qualify for this guarantee, then Leaders, in its sole discretion, may either (1) offer the mortgage to you at a price that is $250 less than the other lender's pricing or (2) pay you $1,000 upon Leaders' receipt from you of proof of your loan closing with the lender that was used to qualify for this guarantee. For purposes of this guarantee, the following shall have the meanings set out herein: (1) "pricing" shall consist of the interest rate, points, and lender fees that are typically listed in the LE; (2) "locally-based" shall mean a licensed lender with a physical location within Leaders' market area; and (3) "proof of loan closing" shall mean a copy of the signed Note and of the Closing Disclosure, for the loan set out in the locked LE.
2. - Annual Percentage Rates (APR) are subject to change without notice. Rates are variable and subject to credit approval. APR may vary based on Wall Street Journal Prime (current rate as of 5/5/2022 of 4.00%) and are subject to change with market conditions. An introductory rate of 0.99% APR is for qualifying applicants for the first 12 months of the loan beginning with the date of the loan. After the introductory rate ends, the line of credit will convert to a variable periodic rate with a corresponding APR of no less than 4% or more than 18%. Home Equity Loan rates are calculated at Prime plus a margin. Margins remain the same for the life of the loan and can range from 0.25% APR - 6% APR. APR and introductory rate are based on credit scores and/or combined loan to value ratio. Closing cost based on credit line amount. Home Equity Line payments are based on the previous month’s principal balance on the last business day of the month. Payments recalculate if a draw occurs during the month. The minimum monthly payment amount is $100. Homeowner's insurance is required. All loans subject to credit approval. Additional terms, conditions, and restrictions apply and may change without notice.