1 - APR = Annual Percentage Rate. The APR for a Coastal Federal Credit Union Home Equity Line of Credit is variable and based on Prime Rate as published in the Wall Street Journal, ten days before the end of the prior month (called the "Index"), plus a margin. The Index is current as of July 1, 2017 and is 4.25%. As of July 1, 2017 margins range from -0.01% with Relationship Pricing to +4.49 without any discounts. Your margin will be determined by a number of factors including but not limited your credit qualifications, combined loan-to-value, and loan amount. Corresponding variable APRs range from 4.24% with Relationship Pricing to 8.74% with no discounts for primary residences. The maximum APR for a home equity line of credit is 15%.
2 - Rates are subject to change daily. Lending area located in North Carolina, Virginia, and South Carolina. Coastal membership must be established prior to scheduled closing. No refinances of purchase money seconds within 12 months of the closing date. Property insurance is required. Flood Insurance may be required. The minimum loan amount for a Home Equity Line of Credit or Home Equity Loan is $5,000. All lending services are subject to credit approval. Contact a Coastal representative for specific rates and terms. Home values determined by appraisals. Certain restrictions may apply. To qualify for Relationship Pricing the borrower must agree to have their monthly payments automatically drafted from their qualified Coastal checking account. Quoted APR’s include the payment of third-party closing costs, which range from $10 to $2,000 depending on the loan amount. To learn about what closing costs may apply to you, please stop by your local branch or call our 24-hour call center at 800-868-4262.
Home Equity Early Disclosure (pdf)
Interest Only Home Equity Early Disclosure (pdf)