Financial Flexibility For Life’s Big To-Do List
Custom Fit Home Equity gives you options—at rates as low as X.XX% APR*, all with no application, origination, prepayment, or annual fees. Get financial peace of mind and leverage your home equity to pay for expenses such as:
Pay for college tuition and educational expenses
Home improvement and remodeling projects
Down payment on a second house
No minimum draw amount. Revolving line of credit with 10‑year draw period. 15‑year amortization after end of draw period.
Fixed-Rate Loan Segments
$5,000 minimum draw amount. 5, 10, and 15‑year terms available. Fully amortized principal and interest payments.
X.XX – X.XX% APR**
X.XX – X.XX% APR***
You can use 2,500 Salal Rewards points to decrease your Custom Fit Home Equity line rate by 0.25%2 or to decrease your Custom Fit Home Equity fixed-rate segment by 0.25%3.
Variable-Rate Line of Credit 1
A Flexible Approach to Home Equity
Unlike traditional home equity products, Custom Fit gives you both a variable line of credit and the option of locking in up to five fixed-rate loan segments, all in one uniquely flexible solution.
You start with one variable line of credit, giving you flexible access to funds when you need them. And since there’s no minimum draw amount, you can simply keep the line of credit available in case of emergencies.
Easily use your line of credit with a Salal Visa card or check. Once you use your line of credit—maybe you decide it’s time invest in those granite countertops you’ve always wanted—you can then turn your balance into a fixed-rate loan segment to lock in a great rate whenever you want.
Lock in a fixed-rate segment at any time, all while keeping your line of credit open and ready for whatever your future holds.
†Available in WA only.
*APR=Annual Percentage Rate. Actual APR will be based on creditworthiness, loan-to-value (LTV), and the owner occupancy status of the subject property.
** Index=Wall Street Journal Prime Rate. The APR is variable and may change during the term of the loan. The minimum APR is 3.24% and the maximum APR is 18%.
***10-Yr Nominal Constant Maturity Treasury. EXAMPLE PAYMENT—Fixed-Rate Segment: $XXX.XX a month based on a 60-month, $20,000 loan at X.XX% APR.
1For new applications only between 8/1/19 – 9/30/19. Current/existing Custom Fit HELOCs, the variable rates are 6.24 – 8.49% APR. 2Salal Rewards points must be redeemed at time of application for Custom Fit Home Equity Line of Credit. 3Salal Rewards points must be redeemed at time of request for a fixed-rate loan segment in Custom Fit Home Equity Line of Credit.
Subject to credit approval. Rates effective as of XX/XX/XXXX. Maximum LTV available based on approved credit and valuation of the property. Homeowners insurance required. Residential real estate only. Subject property must be located in Washington state and vested in borrower’s name. To open your account, you must pay certain fees to third parties such as appraisers, credit reporting firms, and government agencies. These fees generally total between $0.00 and $700.00. Interest may be tax deductible. Consult a tax professional for information regarding the deductibility of interest and charges. Salal Credit Union NMLS #416045.