- Property must be located in North Carolina, South Carolina, or Virginia.
- Loan rates are subject to change daily.
- APR means Annual Percentage Rate.
- There are no loan application fees.
- Number of monthly payments is not predictable for variable rate loans.
See Truth in Lending Disclosure addendum in your loan packet for payment calculation method.
Home Equity Loan Payment Example:
If you finance $50,000 for 15 years (180 months) at 7.50% fixed APR, your monthly payment will be $463.64.
1 Property insurance is required. Flood Insurance may be required. The minimum line amount available 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.
2 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 January 1, 2016 and is 3.50%. As of January 1, 2016 margins range from -0.01% with Relationship Pricing to +4.24 without any discounts. Your margin will be determined by a number of factors including but not limited your credit score, combined loan-to-value, and loan amount. Corresponding variable APRs range from 3.49% with Relationship Pricing to 7.74% with no discounts for primary residences. The maximum APR for a home equity line of credit is 15%. The quoted APR includes the payment of third-party closing costs, which range from $10 to $2,000 depending on the loan amount.
3 All rates are based on Coastal Federal Credit Union's Qualified Loan Program and include the Relationship Pricing discount. Rates provided are based on loan amounts of $25,000 or greater. For rates on loan amounts below $25,000, please stop by your local branch or call our 24 hour call center at 800-868-4262. Your rate may vary and is determined by your credit qualifications, amount financed, collateral, and loan terms. The minimum APR for a Home Equity loan is 4.00%. The maximum APR for a Home Equity loan is 15%. Rates are subject to change. To qualify for the Relationship Pricing discount the borrower must agree to have their loan payment drafted from their Coastal checking account.
Rates are subject to change. 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. Closing costs vary. 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.