FIGFCU Non-Owner Occupied Home Equity
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Farmers Insurance Federal Credit Union

Routing Number: 322077795

front of home in neighborhood

Non-Owner Occupied Home Equity

As Low As 9.99% APR

Introducing Non-Owner Occupied Home Equity Loans!
Now you can afford to renovate your vacation or rental property, adding value and comfort with more affordable financing. Rates as low as 9.99% APR when you have Direct Deposit.

Available only for Rental Properties, Second Homes and Vacation Homes.

Subordination Requirements: email or fax your Subordination Request form to 323-209-6736.

Demand for Payoff: email or fax your Demand with Borrower Authorization to 323-209-6736 (Turnaround time is 24-48 hours).

Disclosures

Non-Owner Equity Loan
  • Required 6 months’ worth of cash reserves on deposit with the Credit Union at the time of funding
  • Borrow up to 60% of your Home’s equity
  • Minimum FICO 720
  • Loans up to $350,000
  • Terms up to 240 months
  • Rates as low as 9.99% APR
  • No prepayment penalty
  • Rental properties, Second home and Vacation homes only
  • Available in all states except AL, AK, FL, HI, and LA
  • Manufactured Homes are not available

APPLY TODAY

Non-Owner HELOC
  • Required 6 months’ worth of cash reserves on deposit with the Credit Union at the time of funding
  • Borrow up to 60% of your Home’s equity
  • Minimum FICO 720
  • Apply for up to $350,000
  • Rates as low as  10.49%  APR
  • No prepayment penalty
  • Rental properties, Second home and Vacation homes only
  • Available in all states except AL, AK, FL, HI, LA, and TX
  • Manufactured Homes are not available

APPLY TODAY

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 9.99% for 240 months. The disclosed APR is 9.99%. 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.