Rates

Nuvision members can obtain a Home Equity Line of Credit with low, adjustable rates based on the Prime Rate.

Home Equity Line of Credit

Disclosures

*APR – Annual Percentage Rate. Rates are effective as of 03/03/2025 and are subject to change without notice. Rates are based on creditworthiness.

**HELOC rates are based on the WSJ Prime Rate, which adjusts on the first day of each billing cycle and includes a margin (up to 2.00%) based on loan criteria. This is a variable rate account. As of 12/27/2024, the APR ranges from 7.75% – 8.75%. The APR cannot increase more than 8% above the initial rate without exceeding the maximum APR of 18% or fall below the floor rate of 4%. Minimum credit line available is $10,000. All loans are subject to credit approval, income verification, and satisfactory appraisal and collateral. Property insurance is required. HELOCs are only available on owner occupied primary residences in the following states: AK, AZ, CA, CO, HI, ID, MT, NM, NV, OR, UT, WA and WY. Rates, terms, and fees are subject to change without notice. You should consult a tax advisor regarding the deductibility of interest and charges. For more information on HELOCs, download the What you should know about Home Equity Lines of Credit (HELOC) PDF Booklet

PAYMENT INFORMATION. You can obtain credit advances for 10 years (draw period). After the draw period ends the repayment period will begin as outlined in your Credit Agreement and Truth In Lending Disclosure and Home Equity Addendum. You will be required to make monthly payments during both the draw and repayment periods. Your minimum monthly payment during the draw period will be equal to 1.00% of the outstanding balance each month or $75.00, whichever is greater. Your payment will include any amounts past due and any amount by which you have exceeded your credit limit, and all other charges. After the draw period ends, you will start the repayment period. The length of the repayment period will depend on the balance at the end of the draw period. Your minimum monthly payment will be calculated to repay any outstanding balance at the current variable APR and interest rate adjustments, but will never exceed 15 years. Making only the minimum payments on your HELOC may not be sufficient to repay the outstanding principal balance during the repayment period. If there is a balance at the end of the repayment period, you will be required to pay it in full in a single payment. Other charges include a $15 late fee for payments that are over 15 days past due, a $40 yearly fee that is applied to your account on each anniversary, and a $30 non-sufficient funds fee for exceeding your credit limit.

***Fee Reimbursement. We will waive your closing costs unless the loan is paid off and closed within three (3) years after the closing date of the loan, otherwise, third party fees ranging from $400 to $2,000 will need to be reimbursed to Nuvision Federal Credit Union.

Minimum Payment Example: The information provided is based on an initial $10,000 advance at funding on an existing single-family home used as a primary residence. The assumed credit score is 720 with an assumed CLTV of 75% and a credit limit of $100,000.

During Draw Period: 120 payments of $100.00 at an interest rate of 1.00%.

During Repayment Period: 180 payments of $94.13 at a variable interest rate of 7.75%.

Other terms and conditions may apply. Equal Housing Opportunity. Membership is required.