Whether for a new kitchen or rec room, a vacation, education expenses, new car or for just about any purpose, a home equity loan can be the answer while also offering possible tax advantages.* Ours come with no points, no closing costs and no annual fees.** And, unlike many institutions that make you pay the old-fashioned way…monthly, or charge you a fee to pay more frequently, at Wave you can set up a weekly, bi-weekly or monthly payment plan. And you can change it at any time…without penalty. You can also choose to pay interest only or principal and interest.
So whether you are interested in a variable rate plan or a fixed rate plan, put it on the house and let us help design the right loan program for you. Applying is easy. Just bring in your verification of income, proof of ownership and an insurance binder and we’ll help with the rest. We can even provide a pre-approval within 24-hours.
Fixed Rate Home Equity Loans
Wave home equity loans have fixed rates, set monthly payments and no annual fees or closing costs.** They are ideal for borrowing a large amount at once and paying a pre-determined monthly amount.
Variable Rate Home Equity Lines
Wave variable rate home equity lines can be accessed by simply writing a check or transferring funds via Wavenet, Waveline or a simple telephone call. You pay only on the amount you use and at a rate based on the Prime Rate. You can also choose to pay interest only or principal and interest. There are no annual fees or closing costs.**
** Minimum borrowing requirements may apply.* APR = Annual Percentage Rate. 2.49% APR for 12 months from date of closing. On the 13th month, the rate on outstanding balances for the remaining draw period will revert to the Wall St Prime Rate or 4% APR, whichever is higher. Stated rate good for LTV’s up to 80% and is based on credit worthiness. A minimum $25,000 line required. Other rates and terms available. Rate eff ective December 15, 2019 and subject to change without notice. Existing WFCU
home equity lines/loans are not eligible for refi nance with this promotion.
**You should consult your tax advisor or attorney regarding tax issues specific to your circumstances.