Annual Percentage Rate

Type

Loan Amount

5.50% ^APR

Variable Rate

(Prime + .50%)

$25,000 to $150,000

6.29% ^APR

Fixed Rate

up to $50,000

6.79% ^APR

Fixed Rate

up to $75,000

CALL 847/670-0459 FOR AN APPLICATION or click here to download a 

                                Home Equity ApplicationHome Equity Disclosure

HOME EQUITY LOAN

Line-of-Credit

FIXED RATE

Rate Changes

Jan 1 & July 1

Fixed

Maximum Loan Term

15 Years

up to 7 Years

Loan Advances

"Open End"

Multiple Advances

"Closed End"

Single advance at closing

Minimum Loan Amount

$25,000

$25,000

Maximum Loan Amount

$150,000

$60,000

Maximum Loan-to-Value

90%

90%

Application / Appraisal /Closing Fee

$300

$300

               Provided by Great Northern Financial Corp.

Illinois Properties only. Must be member’s primary residence. Multi-Family (2-4 units), eligible at higher rate and additional costs. *Rate is indexed to prime rate and is subject to change until loan is disbursed. Home Equity Loans with Higher Loan-To-Value (LTV) ratios, may be available at a premium. The application / appraisal fee is non-refundable, additional fees may be assessed for properties outside surrounding counties. If the Equity Loan is paid off before the first anniversary of the closing date you agree to reimburse all the closing costs and fees incurred by METRO Federal Credit Union. This offer does not apply to current METRO loans. Call (847) 670-0456 for complete details.    

The Prime Interest Rate is 5.25%, as published in the Wall Street Journal 3/18/08.