First Northern Credit Union - Home Equity Loans

Home \| FNCU Events \| Privacy Policy \| Site Map \| Contact Us \| Help/FAQs \| Security

APR As Low As:*
Home Equity Loans (Borrow up to 85% of your home's equity)
Line of Credit (variable)	Prime^** -.50% APR
5-year fixed	5.99% APR
10-year fixed	6.49% APR
15-year fixed	7.29% APR
Home Access Loans (Borrow up to 100% of your home's equity)
Line of Credit (variable)	Prime^** +2.00% APR
7-year fixed	7.00% APR
APR = Annual Percentage Rate *Subject to credit approval. Rates are subject to Lender's credit criteria, certain conditions, and restrictions. Your rate and corresponding Annual Percentage Rate (APR) may be higher than the published rate. Rates are subject to change at any time without notice.
**The Prime Rate is the Prime Lending Rate as published in The Wall Street Journal. As of 3/19/08, the Prime Rate was 5.00% APR. The annual percentage rate on this loan cannot exceed 18%. Offer valid on Illinois residences only, and does not apply to paying off existing First Northern Credit Union loans. Rates subject to change. Fixed-rate repayment example: 5.99% APR for 60 months is $19.34 per $1,000 borrowed. As always, consult your tax advisor concerning interest deductibility. Some restrictions apply. See your Financial Service Advisor for details.

Home Equity Loans

First Northern offers home equity loans and lines of credit to members on their Illinois residences. Both offer great low rates, and best of all, the interest paid on these loans is tax-deductible for many borrowers. (Check with your tax advisor for details.)

How do you tell which loan is right for you? Take a look at this chart, which highlights the differences.

Home Equity Loan	Home Equity Line of Credit
Get your money in a lump sum	Flexible line to draw on as needed
Predictable monthly payments	Payments vary based on interest rate and amount drawn
5, 10, and 15 year terms	Up to a 10-year credit line with a 10-year repayment period
Best for one-time expenses, debt consolidation, or vehicle purchase period	Best for multiple expenses, like remodeling projects or college tuition

Our home equity loans and lines of credit allow you to borrow up to 85% of your home's appraised value, minus any outstanding balances you may owe. We also offer Home Access loans and lines of credit for members who need to borrow up to 100% of the equity in their homes.

Loyalty discount
Take advantage of a rate .25% lower than our published fixed-rate home equity loan if you have direct deposit into our Preferred or Advantage Checking accounts.