Your monthly digital newsletter is now available. Stay up to date on all things CommonWealth!
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Tap into to your Home's Equity to Make your Dreams a Reality
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From funding your child's education to the kitchen remodel you've always dreamed of, the equity in your home can be used in many ways. Now is the time to start thinking about how it can help you reach some of your goals in 2022.
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What is a Home Equity Line of Credit?
A Home Equity Line of Credit (HELOC) is a form of revolving credit, much like a credit card, that you can use as you see fit. This is a great option if you’re looking to be able to take out money at various times when you need it.
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With a low fixed rate for 24 months, you have more time to use your HELOC to do all the things you’ve been dreaming about.
It can help with: - Tackling that home improvement project
- Purchasing a big-ticket item
- Paying for higher education
- Taking care of unexpected expenses
- Consolidating debt to one low monthly payment
What are the features of a HELOC? - Borrow any amount, at any time, for any purpose
- Borrow up to 80% of the equity in your property
- Lines from $10,000 to $500,000
- 10-year draw and a 20-year repayment period
If you would like more HELOC information, click here.
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*APR = Annual Percentage Rate. The initial rate for the Intro Rate Home Equity Line of Credit is a fixed rate not based on the index and margin used for subsequent rate adjustments. The Intro Rate HELOC initial rate of 2.99% APR fixed for the first 24 months. After the introductory rate the APR can vary and is based on Prime Rate plus a margin of 0.00% to +5.00% based on credit rating. The APR is subject to change on the 10th of each month, based on changes to Prime Rate, the highest Prime Rate published in the Wall Street Journal "Money Rates" table on the 20th of the prior month. Minimum APR 4.00%, maximum APR 18.00%. Intro Rate Home Equity Line of Credit up to 80% CLTV with loan amounts of $10,000 - $500,000. During the draw period, you may withdraw (advance) funds up to your credit line limit and pay interest accrued on that balance monthly. After the draw period, you may not withdraw any more funds from the line. Your loan is then amortized and you begin to pay the principal and interest monthly. There are no loan processing or early closure fees and no prepayment penalty. Borrower is responsible for closing costs ranging from $450 to $1,500 including appraisal and escrow. Offer not applicable on refinancing of existing CommonWealth HELOCs or within 24 months after the closed date of the 12 mos or 24 mos Intro Rate Home Equity Line of Credit. All third-party fees associated with the loan at origination that was not collected at the time of origination will have to be reimbursed to the credit union if the line of credit is closed within 24 months of the opening date. Rates, terms, and conditions are subject to change without notice. Real Estate loans are available for owner-occupied properties in the state of California only. NMLS ID #458544
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Join Us For Drive Thru Shred Day! Saturday, May 7th 10:00am to 2:00pm
Have a lot of personal documents taking up space in your home? Now is the time to declutter and get rid of it all, safely and securely!
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Annual Meeting & Board Elections Wednesday, April 20th Join us as we celebrate our members, discuss the past year and our plans for the credit union, announce new Board Members, present student scholarship awards, charitable contribution awards and much more! Learn More!
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New Online Bill Pay Is Here! Our new and improved Bill Pay is now live! Pay anyone or any company within Online Banking . You determine who you want to pay, when you want to make the payment, and which account you want the payment to come from. It's safe, secure and easy to use.
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Federally Insured by NCUA
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