Home Equity
Cash in on the equity you’ve built up. Choose from two affordable options: a home equity line of credit (HELOC)or a home equity loan.
- Pay off high-interest debt
- Make renovations or home repairs
- Cover emergency expenses
Home Equity Line of Credit
Overview
Save more with our two-year introductory rate HELOC, which lets you draw funds at a low fixed rate. After the intro period, the loan reverts to the APR stated in the HELOC agreement.
Perks
- Lower rates than credit cards and consumer loans
- Revolving line of credit, pay interest only on the amount you draw
- Open for 10 years with 20 years to repay the balance
Home Equity Loan
Overview
Need access to money for an important purchase? Let your home equity work for you with affordable borrowing and a fixed rate.
Perks
- Remodel your home
- Paying for college tuition
- Pay off high-interest debt
Disclosures
Credit Score/Risk-Based Pricing: A (≥720), B (680‐719), C (661‐679), D (620‐660),1 E (≤619)1
LLPA added to Par (A) Rate: PAR LLPA .25, LLPA 1.00, LLPA 2.00, LLPA 2.50
LLPA Cashout Refi >75% LTV: 0.75, 1.50, 2.50, 3.50, 4.00
Origination fee (points) added to closing costs (first mortgage only). Home Improvement excluded.
1Requires second approval by Retail Loan Manager, Loan Operations Manager or President.
2Mortgage APR (retained) will not exceed 3.5% over applicable APOR. Rate may be adjusted lower to comply with this rule (Small Creditor QM).
3LLPAs exclude Secondary Market Mortgage products. Secondary Market LLPAs apply (see Cuso Pricing Matrix).
4Max age of mobile home on land is 25 years; in a park, 20 years. Exceptions for age of mobile home considered on a case-by-case basis with additional .50% rate LLPA, max term 15 years.
5Rates for LTV ratios greater than 80% will be charged an additional .25 (85%) and .50 (up to 90%). Exception needed and for all mortgage and equity products. No additional charge if PMI is utilized.
Commercial/Non Owner-Occupied Property (1-4 family only), no MH park, first position only, 1% additional add-on for rate, 75% max LTV, 70% max cash out LTV and max term 20 years. If borrower owns more than 4 rental properties, the loan must be submitted to NDBS.
LLPA (Loan Level Price Adjustment) is an increase in rate added to the Portfolio Loan par rate or origination fees and is determined by applicable credit score, LTV and loan purpose.
LTV=Loan to Value is a loan amount divided by collateral value (based on purchase price or appraised value, whichever is less).
Proof of Flood and/or Property Insurance (full coverage required for term of loan) listing Dirigo FCU as lienholder required at closing.
APR=Annual Percentage Rate. The APR will vary based on loan amount and actual finance charges incurred.
Payment per thousand is based on the maximum term and does not include amounts for taxes and insurance premiums.
All rates subject to change without notice.