NOVEMBER 2020 • LONGISLANDPRESS.COM 71
Quick, easy and
no closing costs.
HOME EQUITY LINE OF CREDIT
Prime for life,
Call 855-244-0090, or visit
1 Closing costs for the first $500,000 will be paid by Bethpage Federal Credit Union (Bethpage), but must be repaid by the borrower(s) if the Home Equity Line of Credit (HELOC) is closed within first 36 months
of account opening. Loan amounts over $500,000 may be available on a case-by-case basis to qualified applicants, are not eligible for the discounted introductory rate at any time, and the borrower(s) will be
responsible for mortgage tax and title insurance costs on the loan value portion over $500,000.
2 APR = Annual Percentage Rate. The introductory APR is fixed for one year (twelve months). After one year, the APR is variable based on the U.S. Prime Rate as published in the Wall Street Journal, plus a margin.
To obtain an introductory rate, borrower must meet credit and loan program requirements, including (but not limited to): 1) maximum Combined Loan-to-Value (CLTV) of 75%, 2) borrower must take an initial draw
of $25,000 and maintain this balance for 12 months, 3) borrower must have automatic transfers from a Bethpage personal savings or checking account for the monthly HELOC payments, and 4) borrower must
not have had a previous introductory rate for a Bethpage HELOC within the past five years. The introductory rate applies to the variable line in use only.
3 The Prime APR is variable based on the U.S. Prime Rate as published in the Wall Street Journal, plus a margin (if applicable). The minimum floor APR is 3.25%. HELOCs are variable rate products and rates may
not exceed the maximum legal limit for Federal credit unions (currently 18%). The Prime Rate as of 10/30/2020 = 3.25%.
Rates and terms are subject to change without notice. All offers of credit are subject to credit approval requirements and applicants may be offered credit at higher rates and other
terms. Loan-to-Value (LTV) and/or Combined LTV (CLTV) restrictions apply. Hazard insurance is required on all loans secured by real property (flood insurance may also be required where
applicable). Rates shown are based on a borrower’s primary residence, maximum CLTV of 75%, and automatic transfers from a Bethpage personal savings or checking account. Consult
a tax professional regarding the potential deductibility of interest. Bethpage does not currently offer HELOCs in Texas. Membership at Bethpage is required by opening a minimum $5.00
share savings account at or prior to HELOC account opening.
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