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Home Equity Line of Credit Special

HELOC


Use your home's equity to improve your life, home or outlook.


 
Or all three.

Open a HELOC. Get $250 cash back.

 
A home equity line of credit (HELOC) is a popular way to get cash you need for whatever is on your to-do list or must-have list. Right now, receive a $250 cash bonus when you open a HELOC at ALEC and take an initial advance of $5,000 or more.1 Just apply by October 31, 2018.
 

Our HELOC features:

  • 1.99% introductory APR for 6 months, after that as low as 5.25% variable APR2
  • No application or annual fees
  • Up to $500 in closing costs paid by ALEC3
  • Possible tax-deductibility - check with your tax advisor
Apply now at alecu.org. Or call 800.762.9988 or visit an ALEC Service Center. But don't wait long - our cash-back offer ends soon!
 
 
1 Offer applies to HELOC's up to 80% combined loan-to-value. Applications must be received by Oct. 31, 2018. Existing ALEC home equity loans/lines of credit and ALEC first mortgages do not qualify for this offer. The $250 will be deposited to your ALEC savings or checking account 60 days after taking your initial advance. At that time, loans must be open and have a balance to receive the one-time bonus.
2 APR is Annual Percentage Rate. The 1.99% introductory APR is for the first 6 months for HELOCs up to 80% combined loan-to-value. The introductory APR is fixed and will not change during the introductory period. After the introductory period, the APR will be variable based upon The Wall Street Journal prime rate, which was 5.25% as of 9.30.2018, but will never be more than 18% or less than 4.00%. Your APR will be based on several factors, including your credit history, loan-to-value ratio and lien status. Offer subject to change without notice and requires credit approval. Introductory APR applies only to new HELOCs. A $5,000 minimum initial draw is required. HELOCs are available on owner-occupied properties in Illinois, Ohio, Wisconsin and Minnesota. Minnesota borrowers are responsible for a mortgage registration tax. Property insurance is required.
3 The closing-cost offer is for title insurance, recording fees and flood certification. All borrowers will be required to pay a $300 appraisal fee at closing.