LMCU’s $50,000 Home Makeover Sweepstakes is bigger than ever—with a $15,000 second place prize and a $5,000 third place prize.
A home equity line of credit lets you borrow and spend money just like a credit card. But unlike a credit card, the interest rate is tied to the prime rate. With the prime rate at historically low levels you can access credit at a fraction of what most credit cards charge. Use the money for any immediate needs, or pay off high-interest debt.
To help make the homebuying process feel less like a process, we’ve broken it down into five essential steps.
Get pre-qualified to find out how much you can afford
During our initial conversation, you’ll tell us about your homebuying needs, and we’ll explain your options. We’ll review your financial information, including total assets and credit rating, to determine what amount you can qualify for.
With spring right around the corner and mortgage rates near a record low, now is the perfect time to prepare for your next big move. But before you start picking out paint swatches, ask yourself these five questions to make sure you’re ready:
Project by project, you’re slowly turning your fixer-upper into your dream home. With a home equity line of credit, you can purchase the tools and materials you need for your current project, and as you repay your balance, the funds become available again for your next project. Rates start at just 4.49% APR*** for well-qualified buyers. Learn more at HomeEquity.LMCU.org.
You’ve made the Pinterest board. You’ve analyzed Chip and Jo’s every move. You’ve browsed paint samples until you’re Jamaica Bay blue in the face. Now, all you need is the money. Here are three financing options to choose from based on your situation:
Are we alone in the universe? Is Bigfoot real? How is your credit score determined? These are the great mysteries of our time. And while we can’t help you with the first two, we can shed some light on your credit score. For better or worse, your score plays an important role in the mortgage process. The national average is 704, and the higher your score, the lower your interest rate. While a lower score can keep you from getting approved all together.