Non-Owner Occupied Home Equity

Non-Owner Occupied Equity Loans— The advertised loan is a 20 year Fixed Rate Loan with a 20 year fully amortizing term. The interest rate is 8.99% for 240 months. The disclosed APR is 8.99%. Example on a loan amount of $150,000.00 the monthly principal and interest payment would be approximately  $1,480.00 for 240 months. Loan Requirements: 1) Minimum FICO 720, 2) Maximum Combined Loan-To-Value of 60%, 3) 6 months’ worth of cash reserves on deposit with FIGFCU at the time of funding, 4) Maximum Debt-To-Income 50%, 5) Maximum term 240 months, 6) Direct Deposit Discount available. Non-Owner Occupied: Rental Properties, Second Home and Vacation homes only. Loans are subject to Credit Approval and verification of information, your credit history, the location and type of property, and other factors as determined by Lender. Not available in all states. Rates and Terms are effective 02/20/2023 and are subject to change without notice. NMLS #408877

APR = Annual Percentage Rate. APR is the annual rate of interest that is paid on an investment, without taking into account the compounding interest within that year. Rates are subject to change at anytime.

There is a $500 refinance fee for Home Equity Loans booked within the last 12 months, unless $20,000 new cash is added to the loan request.

DIRECT DEPOSIT / 2% LOAN DISCOUNT PROMOTION: Up to 2.00% APR (Annual Percentage Rate) discount on qualifying loan is for a current or newly established minimum of $1,000 monthly Direct Deposit or Agent Net Check into a Farmers Insurance Federal Credit Union Checking Account and Automatic Payment/Folio Deduction as a repayment method to qualify. Offer subject to change or cancellation at any time. Direct Deposit loan rate discount available if at a time prior to loan funding (a) Member has a current or newly established recurring monthly Direct Deposit of at least $1,000 from net pay, pension, or government benefits, and (b) Member is obtaining a FIGFCU loan. Maximum available loan rate discount of 2.00% if Member is eligible to combine Direct Deposit discount with other available discount a maximum of 2.00% shall be applied. If Direct Deposit stops before loan is paid off, loan interest rate will increase by 2.00%. Other restrictions may apply. All loans are subject to credit approval. Rate and terms are subject to change without notice. 

Promotion Offering applies only to Consumer accounts, which must be in good standing. Guardian, rep payee or executor, collections charge-off, business, and/or organizational accounts are ineligible. Must be 18 years of age or older. FIGFCU reserves the right to end or modify this promotion without notice. Member cannot take advantage of this promotion more than once. Promotion cannot be combined with any other account promotion for a discount over 2.00%. Visit figfcu.org for account details, minimums, and fees. Federally insured by NCUA. Subject to employer and/or payer terms and conditions. FIGFCU will generally post payroll Direct Deposits on the day they are received, other exceptions may apply. Promo Period: September 3, 2024, until December 31, 2024. (Terms updated 11/14/24). Signature Loans, Business Signature Loans and Agency Acquisition Loans not eligible for refinancing. 

Available to new and existing Members who apply for eligible loans during the promotional period. Direct Deposit in the amount of $1,000.00 or more monthly or Agent Net Check into a FIGFCU Checking account (either High Yield or CashBack) and Automatic Payment/Folio Deduction to the loan is required. Signature Loans, Business Signature Loans and Agency Acquisition Loans not eligible for refinancing. Refinance Fees are as follows: Vehicle Loans - $200 refinance fee unless $4,000 in new money is added to the loan. Agency/Business Secured Loans - $400 refinance fee unless $10,000 in new money is added to the loan. Home Equity Loans/HELOC's - $500 refinance fee for loans booked within the last 12 months unless $20,000 new money is added to the loan. Interest rate shown on final loan disclosures will be the higher rate prior to the discount. Loan will be booked with the lower discounted rate. Direct Deposit Addendum will be signed with closing loan disclosures.