* The Annual Percentage Rate (APR) is variable and is based on the Wall Street Journal Prime Rate and could be as low as a plus 0.50% above the Prime Rate and up to 3.00% above the Prime Rate. The established line-of-credit, secured by owner-occupied properties, cannot exceed a combined loan-to-value of 80% or $300,000 whichever is less, nor can it create a total indebtedness to the Credit Union exceeding $400,000. Minimum loan amount is $10,000. Minimum APR is 3.75%; maximum APR is 18%. Not all borrowers will qualify for the lowest rate. Your APR will be based on the specific characteristics of your credit transaction, including evaluation of credit history, CLTV, property type, amount of credit and term. The line of credit has a Draw Period of 10 years, after which you will be required to repay any amounts borrowed within a maximum 20-year term, depending on your balance. AFL-CIO EFCU makes Home Loans in all states excluding Texas. Property Insurance is required as a condition of this loan. Additional restrictions, limitations and exclusions may apply, please contact AFL-CIO EFCU for further details.
**Interest only loans/lines provide for the payment of interest for a set period of time and payments of principal and interest for the remainder of the loan term. During the interest only period, principal is not reduced unless you pay more than the required monthly payment.