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Home Equity Line of Credit

Do you need to:

Repair your roof before the winter storms hit?

Consolidate debts into a lower interest rate loan?

Re-model your old kitchen?

Pay for college tuition?

Go on a great vacation?

If you own your home, a Home Equity Line of Credit (HELOC) may be the answer. HELOC funds can be borrowed during a "draw period" (typically 5 years). As you pay on your HELOC loan, the balance goes down, as you borrow again against your HELOC your balance goes up. Your monthly minimum payment varies depending on your outstanding balance. The amount you set as your maximum loan amount determines the length of time you have to repay the loan (typically 10 to 20 years). A Newrizons HELOC loan is a variable interest rate loan which is set every August 1 based on the US 1 year Treasury index. For the past 6 years that rate has been 4.25% but it can change annually. For more information, please contact Newrizons.

Let Newrizons Federal Credit Union Come To Your Rescue!