When you borrow from Capital Credit Union, you pay interest on the unpaid loan balance. There are no penalties for paying off your loan early. Payment by payroll deduction is also available. Credit Life and Credit Disability Insurance are both offered at a low rate. Interest rates are very competitive with other financial institutions. Several options are also available that offer automatic repayments.
Home Equity Line of Credit (HELOC) loans can be completed from application to funding in 10 business days or more. If an appraisal needs to be ordered it can increase the process time.
1As of 4/1/2020, floor rate is 3.75% Annual Percentage Rate and applies to 90% LTV. APR may vary. HELOC must be a minimum of $5,000. Property insurance is required. Offer and rates subject to change without notice. Other restrictions may apply. All loan rates and terms are subject to credit approval. Based on credit qualifications. Loan fees and closing costs vary up to $1,200.
2Applies to home equity loans/lines with $20,000 or more of new money borrowed. Maximum closing costs paid by Capital Credit Union: $175. Does not apply to refinancing of existing Capital Credit Union home equity loans/lines or to interest-only home equity loans or to home equity loans with a designated closing cost amount. Capital Credit Union does not cover the cost of an appraisal (if needed) or Minnesota mortgage registry tax fees. Capital Credit Union reserves the right to end this promotion without notice.