HELOC for the New Year
POSTED IN ARTICLES ON FRIDAY, JANUARY 3, 2020
Get a fresh financial start with a HELOC in 2020.
Many people have financial resolutions for the new year, and Veridian can help you achieve yours. Get a fresh start to 2020 by consolidating high-interest debt with a Home Equity Line of Credit (HELOC) – and save even more with zero closing costs* when you apply by Jan. 31!
What is a HELOC?
A HELOC is a home equity loan that allows you to tap into the equity in your property. Instead of giving you a lump sum up front, however, a HELOC is a revolving line of credit you can draw from at any time. You only pay interest on the money you actually spend, with a rate as low as 3.50% APR♦ for the first five years of the 25-year term.
What can I use a HELOC for?
You can use a HELOC for just about anything, including home improvements, adoption, medical expenses, travel and tuition. It’s an excellent tool for refinancing high-interest debt held elsewhere, whether that’s credit cards, auto loans or student loan debt. You could save hundreds in interest payments by consolidating debt with double-digit interest rates into a HELOC. And that can save you time as well as money if you turn multiple bills into one easy monthly payment.
What is the repayment plan?
Your monthly payment is just 1% of your balance with a $50 minimum.
How much can I borrow at once?
If you qualify, up to 100% of the equity in your home.
How can I access my HELOC?
Simply transfer money from your HELOC to your Veridian checking account through online banking and our mobile app.
Ready to apply?
Start today to get a fresh financial start by locking in a rate as low as 3.50% APR for the first five years. Apply by Jan. 31 to save even more with zero closing costs!
♦ APR = Annual Percentage Rate. Includes Loyalty Discount of 0.25% APR when enrolled in direct deposit of net income and automatic loan payments using your Veridian account. Borrowers will lose Loyalty Discount if they fail to meet qualifications during loan term. Rate fixed for first 60 or 120 months of the 25-year term; after that, the rate is variable and the maximum APR is 21%. Add 1.0-2.5% to interest rate for home equity lines of credit with loan-to-value ratios over 80% (maximum of 100%). Rate may not be used in conjunction with first-mortgage loans. Rates, terms and conditions subject to change and may vary based on qualifications including creditworthiness, loan-to-value ratio and collateral conditions. All loans subject to approval. See Veridian for details.
* Standard closing costs of up to $200 are waived. Other fees, such as appraisal, AVM or title guarantee fee, may apply and will be paid by borrower. Offer valid through 1/31/20 and may not be used in conjunction with first-mortgage loans. Initial loan balance must include at least $10,000 in new money to qualify. Existing home equity loans with Veridian may be refinanced if loan balance will increase by at least $10,000.