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Home Equity

Put the sledgehammer down. This is what we meant when we said there’s money hiding in your home...

The equity you’ve built in your home, it’s “money” in your home. Tap into it with a Pinnacle Home Equity Line of Credit or Home Equity Loan to pay for home improvements (hot tub, anyone?), a special vacation or your child’s education

Home Equity Line of Credit – up to 80% CLTV

Use the money when you need it, repay and use it again! Draw options including an interest-only 5-year draw or a 10-year draw line (The draw period is the time you can withdraw from the line of credit — sorry for the loan jargon).

  • No application fee
  • No appraisal fee
  • No closing costs for second liens
  • Borrow up to 80% of the value of your home
  • Maximum loan amount of $250,000
  • Access your funds as you need them by check or online
 
 

Fixed-Rate Home Equity Loans

Don’t want to worry about your payment going up? Our Fixed-Rate Home Equity Loan is your answer — with flexible terms available from 5 years up to 20 years. Or choose our 30-year amortized/15-year balloon loan (known as a 30/15). It’s a fixed-rate mortgage that’s amortized like a 30-year mortgage, but at the end of 15 years, the remaining balance (aka “the balloon”) comes due. This means you would need to pay off the loan, or refinance within 15 years.

APPLY TODAY

Speak to one of our Mortgage Specialists today for details, terms and conditions.
(732) 225- 1505 or mortgages@pinnaclefcu.com

Disclaimers
*APR=Annual Percentage Rate. The rate will adjust to fully indexed rate (today’s rates 5.25% to 6.75%) on the first calendar day of the month. Indexed rate based on creditworthiness. Applications are valid for 30 days from date of submission. Loans are only offered in New Jersey, New York or Pennsylvania on owner occupied primary residential properties. Minimum line of credit amount is $10,000. Maximum loan amount is $250,000 or up to 80% equity in your primary residence, whichever is less. A floor rate of 4.25% for the life of the loan will apply after the introductory rate expires. The maximum APR that may be imposed will be 18%. There is a 5 year or 10 year draw period. During the 5 year draw period, payments will be due monthly calculated to satisfy interest due, with a minimum payment amount of $100. During the 10 year draw period, payments will be due monthly calculated on a fully amortized basis. For both the 5 and 10 year draw, the interest will begin to accrue when money is taken from the line of credit. A $10,000 initial advance will be required at time of loan closing. After the draw period expires, payments will be calculated to pay off the loan balance in equal monthly payments by the maturity date. The rate may change monthly based on the prime rate published in the Wall Street Journal. Payments will be due monthly until loan has been satisfied. FEES: There is no application fee/charge, and no closing costs. We will pay third party fees on your behalf. If we do so, you must keep the line of credit open for at least 60 months (five years) or be liable to reimburse the Lender by paying a $400 origination reimbursement fee. A fee breakdown will be provided prior to closing. Not all borrowers will qualify. Rates effective as of July1, 2019. Rates subject to change without notification. Pinnacle Federal Credit Union is an equal housing lender. NMLS# 423010.1 Speak to your tax advisor.
**APR=Annual Percentage Rates. Rates shown are base rates. Current rates as low as 4.69% up to 6.49% APR. The actual rate will be determined based on creditworthiness and term. Your loan payment will be due monthly. Payments will be calculated by amortizing the whole loan amount over 30 years with a 15 year balloon. After 15 years, the remaining balance together with all interest will be due in full. Your interest rate on a fixed Home Equity will never change throughout the life of your loan. Loans are only offered in New Jersey, New York or Pennsylvania on owner occupied primary residential properties only. Maximum loan amount is $250,000 or up to 80% of the equity in your home. There is no application fee or charge. Lender requires a five (5) year fee agreement for all loan origination charges. Rates effective February 1, 2018. Rates advertised are subject to change without notification. Pinnacle Federal Credit Union is an Equal Housing Lender. Not all applicants will qualify. NMLS# 423010.
***APR=Annual Percentage Rates. Rates shown are base rates. Current rates as low as 3.89% up to 8.49% APR. The actual rate will be determined based on creditworthiness. Loans are offered in New Jersey, New York or Pennsylvania on owner-occupied primary residential properties only. Maximum loan amount is $250,000 or up to 80% equity in your home, whichever is less. There is no application fee or charge. The current rates for 2nd mortgages are as low as 3.79% APR for 60 month fixed loans, as low as 4.15% APR for 61 -120 month fixed loans, as low as 4.49% APR for 121-180 month fixed loans and as low as 4.89% APR for 181-240 month fixed loans. Your loan payments will be due monthly and payments will be calculated to pay off the loan balance in approximately equal monthly payments by the maturity date. Your interest rate on a fixed 2nd Mortgage will never change throughout the life of your loan. Rates subject to change without notification. Not all borrowers will qualify. Rates effective as of July1, 2019. Pinnacle Federal Credit Union is an Equal Housing Lender. NMLS# 423010.