Our 2024 FRFCU Foundation Scholarship deadline is Monday, April 15, 2024. Learn more and submit your application!

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5/5 Adjustable Rate 10 Year Term Home Equity Loans

  • No application fees and no closing costs.
  • Certain states impose a Mortgage Recording tax at the time a mortgage is recorded and can vary from state, county and locality, and can range from $1 to $21.75 for each $1,000 of the approved credit line amount.
  • State specific taxes and/or fees are the responsibility of the borrower(s). Member is responsible for any city, county and/or state taxes if the subject property is located in FL, LA, MD, MN, NY, TN, or VA.
  • For all HELOCs where state mortgage tax or other state fees are charged, the borrower will be responsible to pay this at closing and may take as an advance from the HELOC.
  • An early termination fee of $195 will apply for lines paid-off and cancelled within one year from being established.
  • Borrow up to 80% of your home’s value minus your first mortgage balance up to $250,000.
roofer working on framing a home addition

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After 5 years, the APR adjusts once to the current Prime rate as listed in the Money Rates section of the Wall Street Journal, plus a margin based on individual credit circumstances and adjustment cap of 5%, but never lower than 3.44% APR, for an additional 5 years.(4)