Second Mortgage
With our second mortgage, you can choose payments up to 15 years with the rate fixed for 7 years. Click here for current rates.
How to calculate your home's equity:
- Find your fair market value found on your tax bill
- Multiply it by 80%
- Subtract your first mortgage loan balance
And that's your equity!
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!
Mortgage Loan Originators:
Wendell Gladem #565412
April Kaufmann #565414
Susan Ross #565413