Home Equity Plus Line of Credit

*APR = Annual Percentage Rate. Rates are based on the 13-week Treasury Bill Index plus an applied margin. APR may vary based on an individual’s credit score and loan to value ratio. Best standard rate of 7.49% APR is accurate as of July 1, 2024. Rate quoted is based on homeowners with a minimum 720 credit score and with a maximum 80% CLTV (calculated as first mortgage balance plus HELOC limit divided by property value). Maximum APR is 18%. All rates and terms subject to change without notice.  HELOCs are subject to DuTrac’s standard lending and credit underwriting practices.  Closing costs may vary and range from $0 – $675, including appraisal fee, if needed. HELOC account holder must reside within the DuTrac Community Credit Union service area and $5 is the requirement to purchase one par value share to establish a membership account. No grace period applies. No prepayment penalties charged.
**The introductory 4.99% APR (Annual Percentage Rate) is for a new Home Equity Line of Credit (HELOC) with DuTrac to credit qualified members with a 680 credit score or higher. Maximum 90% CLTV. (Combined loan-to-value = 90% of property valuation minus first mortgage balance). After the nine month introductory period, the rate is based on the 13-week U.S. Treasury Bill Index plus a margin based on credit score and CLTV. Account holder’s rate is based on standard credit qualifications, with a non-discounted variable rate as low as 7.49% APR. Maximum rate of 18% APR. Introductory and Non-Introductory APR accurate as of July 1, 2024. HELOC account holder is required to be a member of DuTrac Community Credit Union by purchasing $5 in membership shares. Memberships shares are placed in a share savings account. Property insurance is required. Maximum HELOC term is 15 years. Property appraisal may be required with fees averaging an estimated $150-$450. Total closing costs may range from $0-$675. Finance charges will begin to accrue only after a draw on the new HELOC is taken by the account holder. No grace period applies. Not valid for existing HELOC or a refinanced HELOC currently at DuTrac. Not valid with any other offers. Offer may end at any time without notice.