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Loan Rates

Home Equity Loan Rates

The following rates are effective on July 1, 2018 and subject to change without notice. For updated information, inquire at any FedChoice Financial Service Center (FSC) location or contact our Financial Advisory Center (FAC) at 301.699.6151 • 800.969.6151.

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Home Equity Line-of-Credit

Home Equity Line-of-Credit
Loan Type	Term	APR*
Gold (90% CLTV)^†o	Revolving	5.00%
Classic (90% CLTV)^§o	Revolving	4.50%

CLTV = Combined Loan to Value.
^†Variable rate is based on The Wall Street Journal Prime. Rate adjusted monthly.
^§Variable rate is based on The Wall Street Journal Prime minus .50%. Rate adjusted monthly.
^oOn average, closing costs are approximately $1,000 but may vary depending upon the amount of the loan, terms, property value, etc. Consult your tax advisor regarding the deductibility of interest and charges. FedChoice will pay up to $500 towards closing costs. Other conditions apply.

Smart Choice Home Equity Loans

Smart Choice Home Equity Loans
Fixed Interest Rates With Closing Cost Assistance!^#
Loan Type	Term	APR*
5 Year (80% LTV)^{†^}	60 months	4.25%
5 Year (90% CLTV)^†±	60 months	5.25%
10 Year (80% LTV)^{‡^}	120 months	4.65%
10 Year (90% CLTV)^‡±	120 months	5.65%
15 Year (80% LTV)^{‡^}	180 months	5.30%
15 Year (90% CLTV)^‡±	180 months	6.30%

^#Closing cost assistance when your payment is automatically deducted from your FedChoice Federal Credit Union account and your loan is open for three years. If the loan is closed before three years, the member will be required to reimburse FedChoice for all costs paid on their behalf. The cost of required property insurance, however, must be covered by the member. Otherwise, on average, closing costs typically range from $600 - $800 but may vary depending upon the amount of the loan, terms, property value, etc. FedChoice will cover up to $500 in closing costs (not including property insurance).
^* Annual Percentage Rate.
Owner-occupied primary residence only. Available in Delaware, District of Columbia, Maryland, New Jersey, Pennsylvania and Virginia. 1st or 2nd lien, no pre-payment penalty.
^† Borrow $5,000 to $250,000.
^‡ Borrow $10,000 to $250,000.
^{^} 1st lien Smart Choice Home Equity Fixed Rate loans are limited to a maximum loan to value of 80%.
^± Not applicable to 1st liens for Smart Choice Home Equity Fixed Rate loans.

Smart Choice Plus

Smart Choice Plus - Fixed Interest Rates With Closing Cost Assistance!^#
Loan Type	Term	APR* as low as**
10 Year (up to 125% CLTV)^{†^}	120 months	9.25%^~

^# Closing cost assistance when your payment is automatically deducted from your FedChoice Federal Credit Union account and your loan is open for three years. If the loan is closed before three years, the member will be required to reimburse FedChoice for all costs paid on their behalf. The cost of required property insurance, however, must be covered by the member. Otherwise, on average, closing costs typically range from $600 - $800 but may vary depending upon the amount of the loan, terms, property value, etc. FedChoice will cover up to $500 in closing costs (not including property insurance). Owner-occupied primary residence only. Available in Delaware, District of Columbia, Maryland, New Jersey, Pennsylvania and Virginia. 2nd lien only; no pre-payment penalty.
^† Borrow $10,000 to $50,000. Amount varies depending upon the member’s credit score. Maximum of $50,000 aggregate unsecured credit/member.
^{^} CLTV = Combined Loan-to-Value.
^* APR = Annual Percentage Rate.
^~ Starting as low as 9.25%. APR is based on evaluation of applicant's credit at time of application. Your actual APR may vary. FedChoice Federal Credit Union's normal underwriting requirements apply.