Home Equity Lines
Owner Occupied Equity Line of Credit. The maximum line of credit plus the outstanding first mortgage shall not exceed eighty (80) percent of the appraised value of the real estate. Maximum dollar amount $300,000. Property insurance is required in an amount equal to or greater than the amount of the approved home equity line and 1st mortgage. The Annual Percentage Rate may vary. Annual Percentage Rate is based on the prime rate listed in the Wall Street Journal. Rate will not exceed 18% APR. The Annual Percentage Rate is current as of today’s date and is not guaranteed until a loan contract is executed. All payments will be made up of principal and interest. Fees may apply.
Fixed Rate Home Equity
Loan Owner Occupied Fixed Rate Home Equity Loan. These rates are subject to change at any time and are not guaranteed until a Fixed Rate Home Equity Loan contract is executed. Fixed Rate Home Equity Loans may be approved for up to Eighty Percent (80%) of the appraised value of the real estate, minus First Mortgage balance before minimum dollar amount. Minimum dollar amount is $10,000. Maximum dollar amount $300,000. Property Insurance is required in an amount equal to or greater than the amount of the approved loan and 1st mortgage. Annual Percentage Rate will not exceed 18% APR. Fees may apply. The Annual Percentage Rate is current as of today’s date and is not guaranteed until a loan contract is executed.
Us here at Woburn Municipal Federal Credit Union are proud to announce and introduce our new intern. Through the Woburn Business Association internship program, Stephanie Kirabo, a Junior at Woburn High School, started her internship this past Tuesday. Stephanie is a member of the National Honors Society and is recognized for her classroom performance by […]
Woburn Municipal Federal Credit Union is excited to announce three new promotions being offered from April 1st to May 31st. The details and restrictions for each promotion are as follows: Youth Account Promotion April 1st – May 31st Teach your children the value of saving at a young age. Open a youth account and be […]
Meet Our 3 Candidates for Re-Election! Each of the following candidates was nominated by the Nominating Committee. Since there were only three vacancies and three nominations, no additional nominations will be accepted from the floor. Carolyn Flaherty (Incumbent) I have been a proud member of this Credit Union for over 20 years Carolyn and have […]
Home Equity Rates
|Name||Term (in months)||APR||Loan Amounts|
|Home Equity Line 80%||Maximum draw 10 years; repay term 5 years||Prime**||Minimum $10,000 Maximum $300,000|
|Home Equity Loan 80% (fixed/second mtg)||Up to 180 Mos||As Low As 4.99%||Minimum $10,000 Maximum $300,000|
APR - Annual Percentage Rate
* Actual APR based on credit history and term
**PRIME RATE IS CURRENTLY AT 4.50%
Rates are subject to change without notice.