Home Equity Loans
Home Equity Line Of Credit (HELOC):
A variable rate loan based on the prime rate. It works similar to a credit card, you have a credit limit and you can draw on it. When you make your monthly payments the funds become available again. You receive a Home Equity Line Checkbook, that allows you to write checks whenever you need to make an advance. There are no application fees and no closing costs (Florida properties only) for lines over $15,000. No pre-payment penalties ( unless loan is paid off within 3 years). The maximum financing is $200,000 and up to 80% of the appraised value of the home minus the first mortgage balance.
What you should know about Home Equity Lines of Credit.
Home Equity Fixed Rate Loan:
A fixed rate, fixed term home loan. Terms up to 12 years. The minimum loan amount is $ 15,000. No application fees and no closing costs. No pre-payment penalties ( unless loan is paid off within 3 years) and your interest rate is fixed for the term of the loan. The maximum financing is up to
80% of the appraised value of the home minus the first mortgage balance. Payments can be automatically deducted from your payroll or from your JetStream Federal Credit Union checking account.
Homeowners and flood insurance (if applicable) is required for all home equity loans. Ask about our townhouses, condo’s and rental property (4 units max) home equity programs.
Rates and fees subject to change without notice.
Federal Credit Union’s Mortgage Loan Officers are in
compliance with the SAFE Act; NMLS
unique identifier numbers are available upon request.
Home Equity Servicing Error Dispute &
Information Request: To submit an error dispute or request
for information on an existing Home Equity Loan with
JetStream, in writing, please send all correspondence to
JetStream FCU, P.O. Box 5487, Miami Lakes, FL 33014,
attention Lending/Collections Depts. Or by email to
email@example.com. Please submit Home Equity Loan
details on all written correspondence with name, address,
account number, contact information and specific reason for
request, to expedite the research process.