DCU Member's Monthly - September 2007

Home Equity Loans
An Economical Way to Finance

Whether you're paying for your son's college education, your daughter's wedding, or home improvements, a DCU Home Equity Loan may be the most economical way to finance it.

With a home equity loan, you borrow against the value of your home. Unlike consumer loan interest, home equity loan interest is tax-deductible for most people and can save you money.* This includes loans on first and second homes up to $100,000. Plus you can save a considerable amount on interest over credit card or consumer loans.

All DCU Home Equity Loans feature no application fees and no closing costs.**

Equity Line 1-2-3

Prime minus 1.23%.
For active users with significant equity and outstanding credit history.
Minimum line of $200,000.
Minimum balance of $20,000 to avoid $20 monthly fee.
20-year draw and 20-year repayment.
Borrow up to 80% of your home's value.

Equity LinePLUS

Rates as low as Prime minus .25%.^†
A revolving line of credit that allows you to have up to two fixed-rate advances at one time at current fixed-rate loan terms.
Borrow up to 100% of your home's value minus your first mortgage balance.
An interest-only option is available; you may borrow up to 90% of your home's value less your first mortgage balance.
20-year draw and 20-year repayment.
Low minimum payment.

Flash Equity Loan

A fixed-rate home equity loan that is guaranteed to close in five business days.^††
A single advance for a one-time purpose.
Loans from $5,000 to $50,000.
Borrow up to 90% of your home's value minus your first mortgage balance.
Choose from four terms – 5, 10, 15, or 20 years.

Fixed-Rate Home Equity Loan

A single advance for a one-time purpose.
Borrow up to 100% of your home's value minus your first mortgage balance.
Borrow for up to 20 years.

You May Already Be Approved
To see if you're approved for a DCU home equity loan, log on to PC Branch and look for a message on the Account Summary Screen and select "Accept Pre-Approval."

If you're not pre-approved, applying is easy. Here's how:

Online: Apply 24 hours a day at dcu.org.
By phone with a live rep: Call 508.263.6700 or 800.328.8797 (select 3 for the Loan Application Menu, then select 4 for Home Equity Loan). If you have any other questions, please call our Information Center.
In person: Apply at any DCU branch.

*	The Internal Revenue Service at irs.gov (publication 936) and your state department of revenue have more information on deductibility.
**	No closing costs exclude state mortgage taxes in FL, KS, MD, MN, NY, OK, TN, and VA.
^†	Rate determined by your personal credit history. DCU's minimum APR (Annual Percentage Rate) is 4.00%, the maximum is 18.00%.
^††	Five business days starts with receipt of completed application. DCU offers Home Equity Lines of Credit in all states except Texas and Connecticut.

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