Get Home Equity Line of Credit fixed rates as low as 3.75%
The Annual Percentage Rate is fixed for a 10-year term. You can also get a $50 gift card and be eligible to win a big prize!
*Home Equity Line of Credit Offer Details
Subject to credit approval. APR = Annual Percentage Rate. The APR for this loan will be 3.75% or higher based on your creditworthiness, loan to value ratio, and other factors. This offer is limited to new Home Equity Lines of Credit. If your initial advance is $30,000 or more, America’s First Federal Credit Union (AmFirst) will waive its standard closing costs, including the costs of an appraisal if required, as long as AmFirst maintains a security interest on the property securing the amount of the initial advance for at least three (3) consecutive months following the closing date, and the initial advance may not include the liquidation of any existing AmFirst loan balances. Closing costs are estimated to be between $400 and $1,000. You will be required to maintain property insurance throughout the life of the loan naming AmFirst as loss payee and title insurance will be required for any first mortgage HELOC. Available equity is based upon the current assessed or appraised value of your property. The maximum loan-to-value ratio for this loan product is 90%. Due to the changes in tax laws, interest on your Home Equity Line of Credit may not be deductible. Please consult your tax advisor to determine how the tax laws apply to your particular situation. The annual non-usage fee is waived for any year in which you have an advance on your HELOC. Limited to primary residences located in the State of Alabama. Must apply by 10/31/2020 and close by 11/30/2020.
$50 Home improvement gift cards are limited to qualifying loans with a minimum initial draw of $30,000 and available only while supplies last. Minimum initial draw of $15,000 for eligibility for other prizes.
The home furnishings giveaway promotion is governed by these rules. By participating in the promotion, each entrant agrees to abide by these rules, including all eligibility requirements, and understands that the results of the promotion, as determined by America’s First Federal Credit Union (“the Sponsor”) are final in all respects. No purchase necessary to play or win.
PRIZES: Several prizes will be awarded during this promotion, including: home furnishings, furniture, and lawn maintenance equipment. Arrangements must be made upon acceptance of prize; at the discretion of the Sponsor and are subject to availability. Restrictions, conditions and limitations may apply. Sponsor assumes no responsibility or liability for damages, losses, or injury resulting from acceptance or use of any prize or participation in the sweepstakes. The Sponsor may substitute prizes of equal or greater value. Limit one prize per household.
HOW TO ENTER: There are two (2) ways to enter the Promotion. (1) Automatic Entry – All members who apply by 10/31/2020 and receive a qualifying home equity line of credit (HELOC) loan through America’s First Federal Credit Union by 11/30/2020 will be automatically entered in the drawing. There will be one entry per loan. (2) Alternate Method of Entry – An America’s First Federal Credit Union member can enter the Promotion without financing a loan. He or she must use a 3”x 5” card, and legibly hand print or type on the card, his or her first name, last name, age, complete address, city, state, zip code and home telephone number (including area code), the card must be placed in an envelope and mailed to:
HELOC Prize Giveaway!
America’s First Lending
Department, PO Box 11349
Birmingham, AL 35202.
All envelopes must be received by November 30, 2020 to be considered eligible. Limit of one (1) entry per envelope. The maximum number of entries by this method is limited to one (1) per entrant. The Sponsor is not responsible for lost or stolen entries.
ELIGIBILITY: The Promotion is open to America’s First Federal Credit Union members, who are legal U.S. residents in any of the fifty (50) United States or the District of Columbia, and who are nineteen (19) years of age or older at the time of entry. Void where prohibited. Business entities are ineligible to participate. The winner must have a unique, personal and valid social security number for the Credit Union to report the tax liability associated with acceptance of the prize. Employees of America’s First Federal Credit Union and their immediate family members (parents, children,
siblings or spouse) regardless of where they live, or persons living in same household, (whether related or not) are not eligible to participate or win a prize.
ODDS OF WINNING: Odds of winning the prize are dependent upon the total
number of eligible entries received during the promotion period.
To apply, contact any of our local branches or call 205-320-4163.
