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Home Equity Line of Credit (HELOC)

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Whether you're planning home improvements, a once-in-a-lifetime vacation, or consolidating debt, a Home Equity Line of Credit from Freedom Credit Union may be the key to turn your plans into reality. And for a limited time, we've made the process even easier with closing costs of just $29!

FAQ:

Q: What does the $29 closing costs cover?
A: This covers everything to prepare and underwrite your Home Equity Line of Credit.

Q: How long does it take to get a Home Equity Line of Credit?
A: The process generally takes 2-3 weeks from the time we receive your completed application until the funds are in your hand.

Q: What does it take to get started?
A: We will need an application, a recent pay stub from all borrowers, and information about your 1st mortgage and homeowners insurance. If you have an HOA, we will also need that info too.

Q: Is the interest I pay on this loan tax-deductible?
A: Good question. This interest is generally tax-deductible, but everyone's situation is unique. Be sure to check with your tax adviser regarding this question.

Q: I've still got questions. Who can help me?
A: Stacy Jensen (NMLS #1066517) is our mortgage loan expert. Give her a call at 801-375-2120; she'll be happy to help.

Q: Isn't there supposed to be fine print?
A: Of course! Here it is: Estimated closing costs typically range from $195 to $500. Open lines of credit only. Minimum loan amount $25,000. Variable rate as low as Prime +0%, currently 4.25% APR. The annual percentage rate may vary after the account is opened. Maximum APR 18.0%. Rates, terms, and conditions are subject to change without notice. All loans are subject to creditworthiness and underwriting approval. Equal Housing Lender.


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