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What is the home equity loan or line interest rate based on?

  • Rate = Prime Rate + a margin (based on the member credit score)
  • Rate can adjust quarterly (January, April, July and October) after the first 6 months Introductory Rate
  • 2% Cap Per Year (placed on loan so it cannot increase or decrease more than the 2 percentage points per year)
  • Max interest rate can go as high as 18%
  • Initial rate as low as 2.49% for the first 6 months

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