College Bound

The Annual Percentage Rate (APR) shall be set at the time of funding and may be as high as the current Prime Rate plus 2% with a maximum APR of 18%. A representative monthly payment based on a fixed, 10-year term Home Equity Line of Credit in first mortgage position at a 3.875% Annual Percentage Rate is $10.07 per $1,000 borrowed. A representative monthly payment based on a variable, 20-year term Home Equity Line of Credit in first mortgage position at a 2.75% Annual Percentage Rate is $5.42 per $1,000 borrowed. Rates are accurate as of   and are subject to change without notice. No closing costs on home equity lines of credits (HELOCs) up to $250,000. Discharge fees and overnight shipping charges are excluded where applicable. If the HELOC is paid and closed within 3 years of the closing date there is a recapture fee in which you will have to reimburse the Credit Union for all closing costs paid on your behalf. Estimated recapture fee examples include $457 in closing costs and a maximum average of $2,475 in New York state mortgage tax for Albany, Schenectady, and Rensselaer counties. Actual closing costs and mortgage tax may be different.

All Lines of Credit require a minimum initial advance of $5,000 and a minimum limit of $10,000. Other rates are available and subject to change without notice. Mortgages in New York State only. CAP COM FCU NMLS Identifier: 401261.