IAACU 808 IAA DRIVE
PO BOX 2901
BLOOMINGTON, IL
61702-2901
800.676.2541
Home Loans > Home Equity Loans
Thinking about doing some major remodeling to your home? Need a little help financing your child's education? An IAACU home equity loan is tailor-made for these and many other worthwhile purposes.
Our home equity loans are designed to provide you with the ultimate flexibility. Take advances via check, Home Banking or through the office. You can lock into a rate that’s as low as .25% under prime, and you’ll never pay an annual fee. You can even select to make payments as low as interest only, giving you the freedom to choose your own repayment plan.
With IAA Credit Union, you can borrow up to 100% of the equity in your home, and we'll even pay all of the closing costs. In most cases, the interest will be tax-deductible. Consult your tax advisor to be sure. Proof of homeowner's insurance is required.
Working with your Credit Union loan officers is a breeze. They're fast, friendly and very helpful — just like family. So call today to see how much your home has stored up for you. There could be quite a bit of equity available for a new car, dream vacation or swimming pool! We offer fast approvals and easy closing virtually anywhere in the U.S.*
Currently, IAA Credit Union is offering the following rates to its members:
Mortgage Rates
Rates last updated 8/28/2008 9:15:33 AM. They are subject to change without notice.
LoanType
Term (in months)
Rate
Payment (per $1000)
Annual Percentage Rate
Home Equity - Variable Rate
240 (20yr)
80% loan-to-value**
NA
3.90%**
240 (20yr)
90% loan-to-value**
NA
4.90%**
Lock in an 80% HELOC Balance
120 Months
6.50%
$11.36
6.50%
Lock in a 90% HELOC Balance
120 Months
7.75%
$12.01
7.75%
Home Equity - Fixed Rate
60 (5yr)
80% loan-to-value
$19.22
5.75%
120 (10yr)
80% loan-to-value
$11.61
6.99%
60 (5yr)
90% loan-to-value
$19.80
6.99%
120 (10yr)
90% loan-to-value
$12.13
7.99%
5 Year Balloon - 2nd Mortgage
5 year up to 360
80% loan
$6.16
6.25%
New Mobile Homes
Up To 180 Months
11.50%
$11.69
11.50%
Used Mobile Homes
Up To 180 Months
12.00%
$12.01
12.00%
First Mortgage - Fixed Rate
180 (15 yr)
6.250%*
$8.58
6.290%
360 (30 yr)
6.750%*
$6.50
6.777%
First Mortgage - Adjustable Rate
3 year ARM (3-1)
5.500%*
$5.69
5.520%
5 year ARM (5-1)
5.500%*
$5.69
5.520%
* Rates are based on borrowing $150,000 on a primary residence in Illinois.
* The APR and monthly payment per $1,000 calculations are based upon 80% loan-to-value and do not include Private Mortgage Insurance (PMI). PMI is required for loans over 80% loan-to-value. 1st Mortgages are available up to 97% loan-to-value, but please call the credit union for the current rates.
* Rates above include a 60 day lock from the date of application.
* Mortgages are available in all 50 states, but the rates may vary slightly.
**80% and 90% Home Equity Line rates are a 6 month introductory rate. After the 6 months the Home Equity Lines adjust to a variable rate based on prime. 80% lines are Prime -.25%(Currently 4.750%). 90% lines are Prime + 1.00%(Currently 6.000%).
IAA Credit Union is an 
ESI
EHL
