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Luso Federal Credit Union
Home Equity

LUSO offers many home equity products that will allow you to do the things you have always wanted to, including:

• Complete home improvements
• Purchase a new or used car
• Assist with financing a college education
• Host the wedding you have always dreamed about
• Assist with emergency situations that may arise or,
• Purchase a recreational vehicle, such as a camper, boat, scooter, etc. that you have always dreamed about!

Home Equity Lines of Credit are available for 1-4 family owner-occupied residences only. We will work with you to finance a mortgage that is simplified to meet your specific needs and individual budget.

For complete details on any mortgage product, call 413-589-9966 or stop by LUSO Federal Credit Union and speak with one of our loan professionals. Loan applicants must live, work, worship, attend school or have a business in Hampden County. Family members of the credit union also qualify.

Click on the product you want to learn about.

Home Equity Fixed Rate

Flex Line HELOC

Special Rate Offer: Flex Line HELOC






















Rates are effective as of Monday, September 7, 2010.
Rates are subject to change without notice.



Home Equity Fixed Rate / Owner Occupied
Minimum Loan Amount: $5,000.00
Maximum Loan Amount: $250,000.00
Fees: Fees vary and are due at application.
Rate Lock Policy: LFCU will rate lock for 45 days for a fee of $500.00 which is refunded upon receipt of closing from attorney; fee is non refundable on withdrawn applications; fee and rate lock are forfeited on loans closed after the 45 day period; fee is automatically refunded on denied applications.
Appraisal: Certified appraisal required - appraisal fee paid by borrower.
LTV Term Rate APR
80% 5 Year 5.500% 5.690%
80% 10 Year 5.750% 5.856%
80% 15 Year 6.000% 6.079%
80% 20 Year 6.750% 6.822%
APR: Annual Percentage Rate is based on a $100,000.00 loan amount, unless otherwise noted.








"Flex Line" HELOC / Owner Occupied
Your Flex Line Home Equity Line of Credit is a twenty year loan consisting of a ten year draw period with interest only payments during the first ten years. Once the draw period ends, principal and interest payments are required until the loan is repaid in full. During the first ten year draw and interest repayment period, you may make optional principal payments.
Benefits: • Easy to apply
• Convert all or a portion of your balance to a fixed rate
• Up to three (3) fixed rate loans at one (1) time
• No application needed to convert to a fixed rate
• Choice of fixed rate loan terms
Fees: Fees vary and are due at application.
Rate Lock Policy: LFCU will rate lock for 45 days for a fee of $500.00 which is refunded upon receipt of closing from attorney; fee is non refundable on withdrawn applications; fee and rate lock are forfeited on loans closed after the 45 day period; fee is automatically refunded on denied applications.
Home Equity Policy: Up to a maximum 80% Loan to Value
HELOC Policy: (10) Year Draw Period / (10) Year Repay Period
Your Flex Line Home Equity Line of Credit is a twenty year loan consisting of a ten year draw period with interest only payments during the first ten years. Once the draw period ends, principal and interest payments are required until the loan is repaid in full. During the first ten year draw and interest repayment period, you may make optional principal payments.
Prime Rate: 3.25%
Appraisal: Certified appraisal required - appraisal fee paid by borrower.
  Ceiling not to exceed 18.00%; floor not to fall below 4.00%.
LTV Loan Amount Term Rate APR
80% < $24,999.99 - $24,999.99 20 Year Prime N/A
80% $25,000.00 - $99,999.99 20 Year Prime (+) .50% N/A
80% $100,000.00 - $250,000.00 20 Year Prime (+) 1.00% N/A
APR: Annual Percentage Rate is based on a $100,000.00 loan amount, unless otherwise noted.








Special Rate Offer! "Flex Line" HELOC / Owner Occupied
Your Flex Line Home Equity Line of Credit is a twenty year loan consisting of a ten year draw period with interest only payments during the first ten years. Once the draw period ends, principal and interest payments are required until the loan is repaid in full. During the first ten year draw and interest repayment period, you may make optional principal payments.
Benefits: • Easy to apply
• Convert all or a portion of your balance to a fixed rate
• Up to three (3) fixed rate loans at one (1) time
• No application needed to convert to a fixed rate
• Choice of fixed rate loan terms
Minimum Loan Amount: $5,000.00
Maximum Loan Amount: $250,000.00
Fees: Fees vary and are due at application.
Rate Lock Policy: LFCU will rate lock for 45 days for a fee of $500.00 which is refunded upon receipt of closing from attorney; fee is non refundable on withdrawn applications; fee and rate lock are forfeited on loans closed after the 45 day period; fee is automatically refunded on denied applications.
"Flex Line" Special Offer Home Equity Policy: Up to a maximum 70% Loan to Value
HELOC Policy: Your Flex Line Home Equity Line of Credit is a twenty year loan consisting of a ten year draw period with interest only payments during the first ten years. Once the draw period ends, principal and interest payments are required until the loan is repaid in full. During the first ten year draw and interest repayment period, you may make optional principal payments.
(10) Year Draw Period / (10) Year Repay Period
Prime Rate: 3.25%
Appraisal: Certified appraisal required - appraisal fee paid by borrower.
"Flex Line" Special Offer: Ceiling not to exceed 12.00%; floor not to fall below 3.00%.
LTV Term Rate APR
70% 20 Year Prime (-) .25% with share draft checking for the life of the loan N/A
APR: Annual Percentage Rate is based on a $100,000.00 loan amount, unless otherwise noted.








      

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