Home Equity

Whether you choose a Home Equity Line of Credit or a Home Equity Loan, using the equity in your home makes good financial sense in many situations.

First, there’s generally a tax deduction on the interest you pay, which means the federal government may actually subsidize your borrowing costs. (See a tax advisor for your personal situation.)

Second, because the loan is backed by your home’s equity, rates and terms are generally more favorable than with other types of loans. You can decide between our:

Home Equity Line of Credit. Provides you the most flexibility because you can write your own loan and access the funds as your borrowing needs require, without reapplying over again. Plus, we offer interest-only payment options (certain restrictions apply, ask for details).

Counter-balance your financial risk with debt protection that pays. Ask about Andrews Federal’s LoanGuard, our voluntary, loan-payment protection product that can cancel or reduce repayment of your loan debt in time of an unexpected life event. Even with the best preparation, life can still take you by surprise and possibly impact your financial well-being.

Choose to protect your loan and lessen the worries for you and your family for good. LoanGuard is available on all auto loans, credit cards, unsecured loans and lines of credit as well as home equity lines of credit. Ask about LoanGuard when you apply for a loan today.*

Home Equity Loan. Has a one-time cash payout, with a fixed or variable rate and term, so you’ll know your monthly payments exactly.

Home Equity Loans (Owner Occupied)²
Term	APR	Minimum Loan Amount	Monthly Payment Per Every $1,000 Borrowed	Maximum Loan to Value
7 years	As low as 6.49% fixed rate	$10,000	$14.84	90%
10 years	As low as 7.49% fixed rate	$10,000	$11.86	90%
12 years	As low as 7.99% fixed rate	$10,000	$10.81	90%
15 years	As low as 9.99% fixed rate	$10,000	$10.74	90%
¹ ²Fees paid to third parties to open your account are estimated to range from $295 to $850 for a loan amount of $50,000 depending on cost of appraisal, title work, and your state’s recording fees and mortgage taxes, if any.
September 1,2010

Home Equity Lines of Credit - Variable Rate
Line Amount	APR¹	Maximum Loan to Value³	Closing Costs²
$10,000 - $24,999	Prime Plus 2 1/2% As low as 5.75% APR	80%	Closing costs paid by Andrews Federal
$25,000 - $500,000	Prime minus 1/2% As low as 2.75% APR	80%	Closing costs paid by Andrews Federal
$10,000 - $24,999	Prime Plus 3% As low as 6.25% APR	90%	Closing costs paid by Andrews Federal
$25,000 - $500,000	Prime As low as 3.25% APR	90%	Closing costs paid by Andrews Federal
¹APR = Annual Percentage Rate. Subject to credit & property approval. Rates are APRs & subject to change without notice. Line of credit rates are variable and based on The Wall Street Journal Prime Rate plus/minus a margin, adjusted each quarter. The maximum APR is 18%. Property insurance is, and flood insurance may, be required. Consult your tax advisor regarding the deductibility of interest. Availability restrictions may apply. ²Fees paid to third parties to open your account are estimated to range from $295 to $850 for a loan amount of $50,000 depending on cost of appraisal, title work, and your state’s recording fees and mortgage taxes, if any. ³Member responsible for any appraisal costs associated with loan.
September 1,2010

*LoanGuard is a debt protection product offered by Andrews Federal Credit Union and is not available on first mortgages. Enrollment in this debt protection product is voluntary and not required to obtain a loan. Please contact us for additional information on benefit maximums, eligibility, and limitations. Currently available online and through branches, will be available via call center in October 2009.

Call us at 800.487.5500 to apply for a Home Equity Line of Credit.

Attraction of Home Equity Loans