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Loans  Home Equity

Home Equity

A home equity loan is one of the smartest ways to borrow money. It can give you access to cash for education, home improvement, debt consolidation, medical expenses, vacations, and more.

Fixed Rate Home Equity Loan:
    • Robins Federal pays all closing costs
    • Loan amounts from $5,000 up to $125,000
    • Fixed Term and Fixed Rate up to 10 years
    • Loan based on the equity accrued in your home
    • Interest may be tax deductible (consult your tax advisor)
    • Borrow up to 100% of the value of your home*

VISA® Home Equity Line of Credit:

    • Robins Federal pays all closing costs (with initial advance of $5,000)
    • Credit limits from $5,000 - $150,000
    • Borrow up to 95% of the value of your home*
    • Interest-Only Option for 3 years
    • Convenient access to your Line of Credit with a VISA® card
    • Rates currently as low as 4.00% APR**
    • Interest may be tax deductible (consult your tax advisor)
VISA® Home Equity Line of Credit
Get the money you need when you need it. Use this revolving line of credit based on the available equity in your home.

Fixed Rate Home Equity Loan
Use your home's equity to buy what you need now. Receive your money all at once then pay it back in stable, fixed monthly payments.

 

Fixed Rate Home Equity Loan

VISA® Home Equity Line of Credit

Interest

Tax deductible in most cases

Tax deductible in most cases

Loan-To-Value (LTV)

100%

95%

Access to funds

Funds disbursed in a single
check or deposited into the
RFCU account of your choice.

Anywhere VISA is accepted,
ATMs, any RFCU location,
Online Banking

Payment Options

Fixed monthly payments with direct payments from any RFCU account

1% of balance plus unpaid
interest

States Available

Georgia (Primary residence only)

Georgia (Primary residence only)

*Consult your tax advisor regarding deductibility of interest. 
**Annual Percentage Rate. Rate subject to change.

What is LTV?
Credit Unions and other lenders will extend credit based upon a percentage called Loan-To-Value, or LTV. LTV measures the amount of available equity that you have in your home. Equity is calculated by taking a percentage of the estimated market value of your home minus the amount you still owe on your first mortgage.   

For example, if your home has a market value of $100,000 and you still owe $50,000 on your first mortgage, your total available equity (the maximum amount you can borrow) is calculated as follows:

 

Fixed Rate
Home Equity Loan

      VISA® Home Equity
Line of Credit

Estimated Market Value:

$100,000

$100,000

Percentage LTV:

100%

95%

Percentage of Market Value:

$100,000

$95,000

Less Mortgage Debt:

$50,000

$50,000

Available Equity:

$50,000

$45,000

* Property must be primary residence and located in the state of Georgia. Modular homes are not eligible. Rates as low as Prime minus 1%. **Floor rate is 4.00%. The maximum APR that can apply is 18.00%. Prime is a variable rate; as it changes, the APR on your account will also change.

View our Full Home Equity Early Disclosure for more details.

Home Mortgage Disclosure Act Notice:
The HMDA data about our residential mortgage lending are available for review. The data show geographic distribution of loans and applications: ethnicity, race, sex, and income of applicants and borrowers; and information about loan approvals and denials. Inquire at this office regarding the locations where HMDA data may be inspected. To receive a copy of these data send a written request to P.O. Box 6849, Warner Robins, GA 31095-6849




 


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