Home Equity Loans
Use your home's equity to redesign your kitchen, to buy a car, to pay off other bills or whatever you have in mind...the possibilities are endless!
You have two options, and we'd be happy to help you decide which one works best for YOUR needs.
Home Equity Line-of-Credit: The line-of-credit is open for ten years and during that time you can make withdrawals of $100 or more up to the available balance. Plus, there's no annual fee. Payments are 1 1/2% of the unpaid balance. For example, a $10,000 balance would have payments of $150 per month.
Plus, talk to your tax advisor - the interest may be tax deductible. Then come to AppleTree Credit Union for a second mortgage or home equity loan!
To complete the application process, we will need:
2) a copy of your first mortgage statement showing your outstanding balance
3) a copy of your last property tax bill
4) a copy of your homeowner's policy showing your coverage
5) a copy of your and your spouse's last paystub
How to calculate your home's equity:
* Find your fair market value found on your tax bill.
* Multiply it by 80% or 90%
* Subtract your first mortgage loan balance
And that's your equity!
Online Home Equity Insurance Verification
Part of your loan agreement is to provide homeowners insurance coverage and/or flood insurance coverage protecting your property for AppleTree Credit Union for the full term of your loan. The mortgage clause should read as follows:
AppleTree Credit Union
11333 W. Greenfield Ave.
West Allis, WI 53214
Use the link below to submit your insurance information, to check whether we have received your insurance information, or to file a claim on your collateral.
Insurance Verification
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