Today's Rates. Rates are subject to change. Must be a member to qualify. Not a member?  Join now!

LINE OF CREDIT FIXED RATE EQUITY 36 MONTH LOCK RATE LINE OF CREDIT
Rates as low as Rates as low as Rates as low as
Term 80%
LTV		 90%
LTV		 Term 80%
LMV		 90%
LMV		 Term 80%
LTV		 90%
LTV
This is a variable rate plan and rates may increase after consumption 3.50% APR 4.50% APR 0-5 YEARS

6-10
YEARS

11-15
YEARS		 6.00%
APR

6.50%
APR

7.00%
APR		 7.00%
APR

7.50%
APR

8.00%
APR		 36 Month Introductory Rate then a variable rate plan and rates may increase after consumption 3.75% APR 4.75% APR
Note: Rate Cannot Exceed 18%
Prime is 3.25% APR
in effect since December 17, 2008		         Note: Rate Cannot Exceed 18%
Prime is 3.25% APR
in effect since December 17, 2008
PROPERTY VALUE INSURANCE VERIFICATION REQUIRED ON ALL EQUITY LOANS PAYMENT EXAMPLE:
$20,000 FOR 5 YEARS AT 6.00% IS $386.66 per month. $20,000 FOR 10 YEARS AT 6.50% IS $227.10 per month.		 PROPERTY VALUE INSURANCE VERIFICATION REQUIRED ON ALL EQUITY LOANS
Type: Type: Type:
Open end line of credit with a 5 year maturity on the index. (Empower reserves the right to call or to refinance any existing balance at maturity.) Closed end loan with a maximum term of 180months Open end line of credit with a 5 year maturity on the index. (Empower reserves the right to call or to refinance any existing balance at maturity.)
Fees: Fees: Fees:
$35 annual fee waived the first year and then assessed yearly thereafter. $300 Appraisal Fee if required $300 Appraisal Fee if required $35 annual fee waived the first year and then assessed yearly thereafter. NO CLOSING COSTS. $100 refinance fee if refinanced within the first 36 months to any other Empower loan product. $300 Appraisal Fee if required
Advances: Advances: Advances:
Can be accessed by personal LOC checks or disbursed by cash, check, or transfer to another account by phoning or visiting the office. Total proceeds are advanced one time at loan closing. Can be accessed by personal LOC checks or disbursed by cash, check, or transfer to another account by phoning or visiting the office.
Payments: Payments: Payments:
1.5% of the current balance of an 80% LTV loan 2% of the current balance of a 90% LTV loan Fixed based on rate and term chosen. 1.5% of the current balance of an 80% LTV loan 2% of the current balance of a 90% LTV loan
Equity: Equity: Equity:
80% Loan-to-value (LTV) based on the lessor of assessed value or fair market value disclosed on most recent tax bill or assessment. Can go up to 90% LTV when Empower holds first mortgage. Example: $120,000 value x 80% 96,000 -60,000 first mortgage 36,000 available equity. 90% financing requires an appraisal and underwriting criteria. 80% Loan-to-value (LTV) based on the lessor of assessed value or fair market value disclosed on most recent tax bill or assessment.  Can go up to 90% LTV when Empower holds first mortgage. Example: $120,000 value x 80% 96,000 -60,000 first mortgage 36,000 available equity. 90% financing requires an appraisal and underwriting criteria. 80% Loan-to-value (LTV) based on the lessor of assessed value or fair market value disclosed on most recent tax bill or assessment. . Can go up to 90% LTV when Empower holds first mortgage. Example: $120,000 value x 80% 96,000 -60,000 first mortgage 36,000 available equity.  90% financing requires an appraisal and and underwriting criteria.
Method of Payment: Method of Payment: Method of Payment:
Direct transfer from a statement savings or checking account on the 20th or the 1st of the month, or manually sending in the payment. A monthly billing is sent regardless of which method is chosen. Direct transfer from a statement savings or checking account on the 20th or the 1st of the month, or manually sending in the payment. A monthly billing is sent regardless of which method is chosen. Direct transfer from a statement savings or checking account on the 20th or the 1st of the month, or manually sending in the payment. A monthly billing is sent regardless of which method is chosen.
Due Date: Due Date: Due Date:
All Equity Loans are due on the 20th of each month Monthly payments begining 45 days after closing All Equity Loans are due on the 20th of each month
Time Frame:  Time Frame:  Time Frame: 
Funds are disbursed approximately 7 to 10 days upon receiving the application. Funds are disbursed approximately 7 to 10 days upon receiving the application. Funds are disbursed approximately 7 to 10 days upon receiving the application.

Reflective Rates

Empower Credit Union is pleased to announce that we have initiated a Reflective Lending Program to help as many as possible obtain credit.

We realize that some of our members have experienced some difficulty with their credit in the past and as a result, we or other lenders may have rejected their loan request forcing these members to pay higher rates elsewhere. Our goal is to help as many members as possible with our Reflective Lending Program. The rate you the member will pay for your loan is determined by your very own credit history. Members with exceptional credit histories will receive our very best rates. Other members, who may have had past credit issues, will be assigned rates consistent with their credit history. It is our goal that these rates will almost always be lower than they may be currently paying with other lenders.

We encourage all our members to call us regarding our Reflective Lending Program. Our goal is to help you obtain credit and improve your credit history. If you are not sure what rate you are paying another lender call them first, then call us! We want to help! Call Monica at 414.221.2557 or her now.

  • Empower Credit Union reports all loan activity monthly to consumer reporting agencies
  • All loan rates apply to new money only!
  • CURRENT Empower loans cannot be re-written for lower rates

Annual Percentage Rates Note

  • Annual percentage rates listed are our Best Rates
  • Your rate may be higher depending on credit history and underwriting criteria.