Home Equity Rates

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3.00% APR introductory rate will be fixed for 12 months; then will adjust to the Prime Rate, as listed in the Wall Street Journal, plus a margin. Actual rate margin and loan approval is determined by applicant’s credit qualifications, collateral and loan terms at the time of application. Variable rates are subject to change monthly. For existing loans past their introductory-rate period, rates will adjust on the first business day of each month based on Prime as of the last business day of the previous month. The rate after the introductory period is based on Prime + -0.25% to 9.75%, with 0% APR floor and 18% APR cap. The quoted APR assumes 80% loan-to-value or less. Offer valid for new Mill City CU loans only or increases and advances of at least $15,000. Payment is 1% of the outstanding balance or $100, whichever is greater. The member is responsible for appraisal fees and closing costs which may range from $250 to $1,800. Consult your tax advisor for deductibility options. Additional discounts do not apply. Rates and terms are subject to change. Ask a credit union representative for complete details.

Home Equity Line of Credit (HELOC) APR* – as low as
3.00%APR Intro-Rate fixed for 12 months calculate payment
Adjustable rate after 12 months 4.00%

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Actual rate based on applicant’s credit qualifications, amount financed, collateral and loan terms.
Member responsible for appraisal fees if required and for all closing costs. Typical closing costs range from $250 to $1,800.

5 Year Fixed: Monthly payment is $186.43 per $10,000 borrowed at 4.50%APR.
10 Year Fixed: Monthly payment is $104.85 per $10,000 borrowed at 4.75%APR.
15 Year Fixed: Monthly payment is $83.04 per $10,000 borrowed at 5.75%APR.

Fixed Home Equity APR* – as low as
5 Year Fixed 4.50%
10 Year Fixed 4.75%
15 Year Fixed (calculate payment) 5.75%

Payment example assumption: all discounts applied.

*APR = Annual Percentage Rate. Actual rate based on applicant’s credit qualifications, amount financed, collateral and loan terms. Rates and terms subject to change without notice. Loan rates apply to new loans or loans from other financial institutions and are not intended for refinancing of existing Mill City CU loans. Additional discounts may apply, ask a credit union representative for details. These rates are for example purposes only and are not an offer to enter into a loan agreement at a specified interest rate.