Take advantage of your home equity

Posted in Articles on Tuesday, July 18, 2017

Our 1.30% APR* home equity promotion ends July 31. Apply today!

If you’ve been dreaming about fixing up your home or consolidating your debt, we’ve got an amazing offer for you.

That’s because you could get 1.30% APR* on the home equity loan of your choice for your first six months. This special rate is because we’re celebrating the opening of our 30th branch. And even after that low promotional rate ends, your regular rate could still be as low as 3.40% APR* with our Loyalty Discount.

However, this special rate ends July 31.

Home equity loans are great because they can be used for so many things, such as home improvements, consolidating debt, a vacation or something else. Plus interest paid on home equity loans is typically tax-deductible (consult your tax advisor).

Applying for a HELOC is quick and easy. The closing time is short, and your funds are deposited right into your account. Apply today!

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  1. home equity

*APR = Annual Percentage Rate. Offer available to all Veridian members who qualify. Offer valid 5/1/2017 through 7/31/2017 and 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. Intro rate is 1.30% APR for first 6 months and not eligible for Loyalty Discount. Loyalty Discount is 0.25% APR deduction for enrolling in direct deposit of net income and automatic loan payments from a Veridian account (borrowers lose Loyalty Discount if qualifications aren’t met during loan term). After intro period, loan returns to regular rates and terms. Current rates range between 3.40% APR and 6.75% APR depending on the loan type chosen and may include Loyalty Discount. Maximum rate includes additional 2-2.5% to rate for home equity loans with loan-to-value ratios over 80% (maximum of 100%). Maximum APR for home equity lines of credit is 21%. Existing home equity loans with Veridian may be refinanced if loan balance will increase by at least 25%. Promotion excludes home improvement loans. Appraisal fees may apply.

APR = Annual Percentage Rate. Rate is fixed for first five years of the plan, and after the five-year (60-month) term expires, the rate is variable and the maximum APR is 21%. For a $30,000 five-year fixed HELOC at 3.40% APR, the monthly payment will be $300 (taxes and insurance premiums not included). Includes Loyalty Discount of 0.25% APR when enrolled in direct deposit of net income and automatic loan payments from your Veridian account. Borrowers will lose Loyalty Discount if they fail to meet qualifications during loan term. Add 2.50% to interest rate for loans with loan-to-value ratio over 80%. Appraisal fees may apply. 

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