Home Loans Choice Home Equity Variable and Fixed Rates First Mortgage
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Choice Home Equity

Bringing you more choices to fit your every need!

Most likely, your home is your largest asset. Why not put it to work for you? A home equity loan is a loan that is secured by a mortgage on your home. It is a cost effective way to use the value of your home to pay for college, home improvements or debt consolidation.

Choose from our variable or fixed rate options. Whatever your goal, you can choose the home equity loan that is right for you!

Calculating your maximum loan amount:
Ashland Credit Union determines your maximum loan amount using the lesser of the following:

1) Up to 100% of the appraised value of your property, less the balance owed
     on any other mortgage(s).

For example:
Appraised value of home                  $100,000
                                                              x     100%
Percentage of appraised value        $100,000
Less balance owed on mortgage     - $60,000
Potential loan amount                           $40,000

2) Twice your annual base salary, or

3) $200,000

Click Here to calculate your potential line of credit.

In determining your actual loan amount, ACU will also consider your ability to repay by examining your credit history, income, debts and other financial obligations.

Click here for current rates

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Variable Rate Choice:

• Interest Rate
      1) Subject to change semi-annually
      2) Based upon your credit score and LTV* ratio
      3) Minimum Rate is 4.25%
• Credit Line - Borrow up to 100% of your home's equity
• Term - Up to 15 years
•  Initial Advance - $5,000 minimum
• Additional Advances - $500 minimum

Fixed Rate Choice:

        • Interest Rate
                1) Fixed for term of loan
                2) Based upon your credit score and LTV* ratio
                3) Minimum Rate is 4.25%
          •  Loan Amount - Borrow up to 100% of your home's equity
          • Term - Up to 10 years
          •  Initial Loan Amount - $5,000 minimum
          •  Additional Advances - Not available

Variable and Fixed Rate Choices Include:
        •  No fees, no closing costs
          •  No pre-payment penalty
          •  Tax deductible interest (consult your tax advisor)
         

*Loan to Value (LTV) ratio is the relationship between the amount owed on your home to your home's appraised value.

Click here for current rates

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First Mortgage

Buying a new home can be a frustrating process.  With the help of an Ashland Credit Union mortgage specialist, your dream home can become your reality. Our trained specialists will guide you through every step of the process.

Ashland CU is a loan originator with PHH Mortgage Company, one of the top 10 originators of retail residential mortgages in the country. We offer 10, 15, 20 and 30 year fixed rate mortgages. Adjustable rate mortgages are available, as well as, mortgages for investment property containing 4 units or less.

Whether you are purchasing a new home or refinancing your current mortgage, Ashland Credit Union's mortgage specialist will guide you every step of the way.

           Features Include:
                          • Competitive rates
                          • Up to 100% financing
                          • No application fee
                          • Reasonable closing costs, with no hidden fees
                          • Pre-approvals at no charge
                          • Electronic payments
                          • Available in all 50 states

If you are interested in buying a home, call our mortgage specialist at 800-245-8112
or 606-329-5487.

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