2nd Mortgage/HELOC Rates

All Mortgage loan rates are for members of Valley Oak Credit Union. There is a $30 requirement to open the account to become a member; $25 miniumum deposit and $5 membership fee.

Rates Effective February 28th, 2014

Variable Rate Home Equity Line of Credit Loans
Term: 15 Yr Margin: 0%
Variable Rate: 80% LTV Index: 8.25% APR*
Interest Rate: 5.75% APR* Min./Floor Rate: 5.75% APR*
Points: None Max./Cap Rate: 12.00% APR*
Max. Line of Credit: $250,000
Min. Line of Credit: $5,000
Min. Subsequent Advances: $250
Index from Wall Street Journal Prime Rate + Margin = APR*. Changes in January, April, July and October
No Annual Renewal Fees. Please ask about closing costs.
*APR = Annual Percentage Rate. Annual Percentage Rate may vary.
Fixed Rate Real Estate Loans
  10 Year 15 Year 30 Year
1st Trust Deeds 4.00% APR* 4.20% APR* 4.75% APR*
2nd Trust Deeds 6.50% APR* 6.75% APR* 7.00% APR*
$250,000 Max, $10,000 Min; 80 % LTV
Payment example: APR = Annual Percentage Rate. Pay $11.36 per month, per $1,000 borrowed at 6.50% for 120 months.
  • Returned Check Fee: On all subaccounts, if a check or share draft is returned unpaid, you agree to pay a fee of $25.00
  • Late Charges: If your payment is 10 or more days late you will pay 6% of the payment no less then $10.
  • Collection Costs: You agree to pay all costs of collecting the amount you owe under the Agreement, including court costs and reasonable attorney fees.
  • Rates are based on individual credit worthiness. Rates listed are the lowest rates available. The actual rate will be disclosed before you become obligated.
  • Financing of collaterized loans based on the manufacturer's suggested retail (MSRP) and Kelly Blue Book Guide on used collateral.
  • All loans and terms are subject to approval. All rates and terms are subject to change without notice.
  • Ask about rate discounts available
  • Refinancing existing Valley Oak loans to get the lower rate requires a minimum of $1,000 increase in loan proceeds, or a fee of $100.00 will be assessed.

Mortgage Disclosure