Journey Federal Credit Union Mortgage & Home Equity Loans

Home Equity Loans

Effective Date: Thursday, November 21st, 2024

Loan Type	APR*	Max Term	Est. Monthly Payment (per $1,000)	Max Loan Amount
Fixed Rate Home Equity Loan	As low as 6.50% Fixed	Up to 120 months	$19.57	$200,000
Rate may vary based upon term & LTV. Other rates & terms available.
Premium Home Equity Line of Credit	8.75% - Variable Rate** (Prime Plus 1%)	15 year term; 5 year draw period	1.5% of the outstanding balance or $50; whichever is greater.	Minimum: $5,000 Max: $100,000 or 80% loan to value.
Premium HELOC 81% Plus	9.75% - Variable Rate** (Prime Plus 2%)	15 year term; 5 year draw period	1.5% of the outstanding balance or $50; whichever is greater.	Minimum: $5,000 Max: $100,000 or 80.01% loan to value.
Premium HELOC 91% Plus	10.75% - Variable Rate** (Prime Plus 3%)	15 year term; 5 year draw period	1.5% of the outstanding balance or $50; whichever is greater.	Minimum: $5,000 Max: $100,000 or 90.01% loan to value.
*APR = Annual Percentage Rate. Rate subject to risk adjustment. Credit restrictions apply.
**APR may vary up to a maximum of 18.00%. Prime Rate as disclosed quarterly in the Wall Street Journal.
Stated APR is the base rate available. An applicants actual final rate may be higher, based upon creditworthiness, which applies to mortgages and consumer loans. For other rates, terms, application, and disclosure, call the Credit Union at 989-227-3700. Property being financed must be located in the state of Michigan. JFCU will acquire a security interest in your home and if timely repayment is not made, your home could be subject to loss. Property insurance on your home is required. There is a $100.00 processing fee plus valuation fee. Any time an appraisal is required for the subject property, the cost will be the borrower's responsibility. Special offers do not apply to the cost of the appraisal.

The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), designed to enhance consumer protection and reduce fraud, established minimum federal regulations for individuals who write mortgage loans. The SAFE Act also created a nationwide mortgage licensing database to help consumers ensure their mortgage loans are being handled by an employee licensed under SAFE Act guidelines.

Mortgage loan originators employed by a federally regulated depository, such as Journey Federal Credit Union, must meet the licensing standards established by the SAFE Act and be registered in the Nationwide Mortgage Licensing System (NMLS). To be eligible for registration under the SAFE Act, home loan originators are required by the federal government to attend classes related to mortgage licensing, pass federal and state tests, and complete credit and criminal background checks.

Journey Federal Credit Union’s NMLS number is 665895.

Mortgage Center’s NMLS number is 282701.

For more information, visit the NMLSR Consumer Access website or feel free to contact us directly.

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