Borrow
Home Equity Line of Credit
Home Equity Line of Credit
Limited time offer.
4.00%Intro APR*
7.5%APR*
*Advertised Introductory 4.00% Annual Percentage Rate (APR) is the lowest available and is fixed for the first 12 months. Offer applicable to applicants with minimum credit score of 660 and subject to loan value (LTV) of 80%. After initial 12 month billing cycle, rate automatically reverts to a variable rate of interest based on Prime Rate +0 (7.5% APR as of December 18, 2024) as published in the Wall Street Journal. Approval and amount of the line are determined by individual creditworthiness. 1-4 family, owner-occupied, primary residence properties only. Property insurance (and flood insurance if applicable) required. Offer and rate are subject to change without notice. APR will not exceed 18% APR or fall below a floor of 3.00% APR after the introductory 12 months. Existing Ocean State Credit Union home equity lines/loans are not eligible for refinance with this promotion. Other terms and conditions my apply. Ocean State Credit Union Membership and Checking Account required for approval.
Whether funding a college education, making home improvements, taking a vacation of a lifetime or consolidating debt, Ocean State Credit Union’s Home Equity Line of Credit puts it all within your reach.
- OSCU will finance up to 80% of the value of your 1-4- family owner occupied home minus the first mortgage loan.
- Draw period is 10 years with a 15 year repayment schedule at the end of the draw period. During the draw period, payments will be due monthly. Your minimum monthly payment will equal the amount accrued interest and credit insurance premiums (if any) or $50.00 whichever is greater.
- Financing up to 80% value of residence
- Prime rate with no closing costs
- Fast turn around and friendly service
| Term | Rates(as low as) |
|---|---|
| 300 months | Prime Rate Variable - 80% of Appraised Value |
*APR = Annual Percentage Rate
Rates Are Subject To Change at anytime without notice
Home Equity Loans
Equity Loans (Closed End)
- The security is a mortgage on your home.
- OSCU will finance up to 80% of the value of your 1-4 family owner-occupied home minus your first mortgage balance.
- Terms of repayment range from 36 months to 240 months.
- Payments can be made automatically from your checking or savings account or by cash or check.
- Fixed Rate Term Loans are offered.
- Financing up to 80% value of residence
| Term | Rates (as low as) | Notes |
|---|---|---|
| 60 months | 6.75% APR | 80% Maximum Loan to Value |
| 120 months | 7.00% APR | 80% Maximum Loan to Value |
| 180 months | 7.25% APR | 80% Maximum Loan to Value |
| 240 months | 7.50% APR |
*APR = Annual Percentage Rate
Rates Are Subject To Change at anytime without notice
Home Equity PLUS Loans
Ocean State Credit Union offers Home Equity Plus Term Loans and Lines of Credit. This unique loan offering allows us to offer our members up to 100% of the value in their home as opposed to the traditional 80% value cap with a standard Home Equity Term Loan or Home Equity Line of Credit. You must meet certain qualifications to be eligible for this program – please call us or stop in to speak with a Loan Officer for more information.
| Term | Rates (as low as) | Notes |
|---|---|---|
| 60 months | 7.75% APR | 100% Maximum Loan to Value |
| 120 months | 8.00% APR | 100% Maximum Loan to Value |
| 180 months | 8.25% APR | 100% Maximum Loan to Value |
| 240 months | 8.50% APR | 100% Maximum Loan to Value |
*APR = Annual Percentage Rate
Rates Are Subject To Change at anytime without notice
Rates Effective as of December 18, 2024
DISCLOSURE: Ocean State Credit Union provides loan rates based on a risk rate schedule. The risk rate schedule carefully evaluates an applicant’s credit history, debt to income ratio, assets, and employment stability. Ocean State Credit Union is competitive in the market. Completing an application gives our loan officers the tools to provide you a rate that works for your financial needs. APR = Annual Percentage Rate Some Restrictions Apply. Rates Are Subject to Change at anytime without notice.
USA Patriot Act: Important Information About Procedures for Filing a Loan Application with Ocean State Credit Union. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you is that when you file a loan application with us, we will ask you for your name, address, date of birth and other information that will allow us to identify you. We will also ask to see your driver’s license or other identifying documents no later than at the time the loan is closed.