APL FCU offers two types of 2nd Mortgages: Home Equity Lines of Credit and Fixed-Rate Home Equity Loans. These loans use the equity of your current home for such things as weddings, tuition, home improvement and debt consolidation.
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* The rate may vary monthly and is based on the highest Prime Rate as published in the Wall Street Journal on the last day of each month, effective the following day. Maximum rate is 18.0% APR.
** APL FCU pays for the following closing costs at settlement: documentary tax, title examination, and state recording fees. If an appraisal is required, any fees associated with the appraisal are not considered part of the closing costs, and are payable by the borrower(s).
Please consult your tax advisor on deductibility of interest charges. Early termination fees apply for lines open less than 36 months. Adequate homeowners insurance required.