Holiday Reminder

FAIRWINDS branches will be closed on Thursday, November 23 in observance of Thanksgiving.

fairwinds.org | wherever you are

 
product photo

Searching for convenience, access, and flexibility? A home equity line of credit is perfect for ongoing home improvement projects.

By establishing a variable-rate line of credit you can access your money when you need it, wherever you are, to help with home improvements, large purchases, college tuition and more.

  • Borrow up to 80% of your home's value including existing mortgages
  • Draw on the line for periods up to 15 years
  • Choose from accrued interest-only payments or 1% of the outstanding balance
  • Your Annual Percentage Rate (APR) will vary with the market based on the Prime Rate.*
  • Discounts on closing costs up to $1,000**
  • Quick approval and fast closing
  • Automatic payments
  • No application fee
  • No annual fee
  • Interest may be tax deductible. (Consult your tax advisor for details.)

Branch Appointment Apply Today

Home Equity Variable Line of Credit
Annual Percentage Rate (APR) Prime + .25% (4.50%)
Rate Your APR will vary with the market based on the prime rate. *
Payment Options 1% of outstanding balance
Draw Period 15 years
Maximum Financing Up to 80% of home's value excluding existing mortgages


*Prime Rate as published in the Wall Street Journal + 0.250 (currently 4.25%) as of 11/17/17, subject to change.

**No closing costs options are only available for equity lines up to 15 years. $15,000 minimum draw required at closing. Closing costs up to $1,000 may be paid by FAIRWINDS. This includes the application fee, origination charge, appraisal, title insurance, settlement and search fees, recording fees, and mortgage document stamps. Closing costs over $1,000 are the responsibility of the member.

Loans are subject to credit union membership eligibility, credit approval, and verification of information provided on the application. Other terms and conditions may apply. Terms and conditions subject to change at any time without prior notice.

In order to open the loan plan, you must pay a flood zone determination fee of $20 to the Credit Union and certain fees to third parties which generally total between $300 and $3,800. You may request more specific cost information about third-party fees from the Credit Union. Property insurance on the property that secures the plan is required to open the plan.

†APR = Annual Percentage Rate. A minimum initial draw of $15,000 is required at closing. After 12 months, your APR will be a variable APR based upon the Prime Rate, plus a margin, for the remaining life of the line, subject to a maximum APR of 18.00%. Your margin will be based on several factors, including your credit history, loan to value ratio, property type, and lien status. All normal closing costs will be paid by FAIRWINDS, up to $1,000. Certain terms and restrictions apply. Offer subject to termination or change at any time without notice.

FAIRWINDS Member Reviews

Home Equity Loan is rated 4.4 out of 5 by 84.
Rated 5 out of 5 by from Awesome I have been a member at Fairwinds for several yesrs. Also got both my kids to get accounts there. Have always had great help and support from Fairwinds in Mount Dora.
Date published: 2017-10-25
Rated 5 out of 5 by from Very Smooth Thanks to Serina at College Park for helping make this a smooth process.
Date published: 2017-10-25
Rated 3 out of 5 by from Needs some work! Product seems to be good. But the initial term of the loan was entered incorrectly and the first payment amount was incorrect.
Date published: 2017-10-22
Rated 5 out of 5 by from Home Equity Loan It was very easy to work through the process and it was explained very well to me so I could make my selection.
Date published: 2017-10-20
Rated 5 out of 5 by from went smoothly Happy with Fairwinds since 1969. A quality member focused financial institution.
Date published: 2017-10-16
Rated 5 out of 5 by from Always there for us!! We can always count on Fairwind's for whatever our needs are and they come through! We would never bank anywhere else!!
Date published: 2017-09-25
Rated 1 out of 5 by from HEL I have been a Fairwinds member for 23 yrs and never have had a bad experience until I applied for a HEL. It took almost 3 months from application to closing. I had to call for every step of the process for updates and in instances took one week for someone to return my calls. It was very stressful and frustrated process.
Date published: 2017-09-24
Rated 5 out of 5 by from Easiest loan ever Very easy process , excellent service from the loan officers at Fairwinds on Tuskawilla. So glad we are members of this credit union !
Date published: 2017-09-24
  • y_2017, m_11, d_20, h_22
  • bvseo_bulk, prod_bvrr, vn_bulk_2.0.3
  • cp_1, bvpage1
  • co_hasreviews, tv_12, tr_72
  • loc_en_US, sid_761, prod, sort_[SortEntry(order=SUBMISSION_TIME, direction=DESCENDING)]
  • clientName_fairwinds
  • bvseo_sdk, p_sdk, 3.2.0
  • CLOUD, getContent, 64.55ms
  • REVIEWS, PRODUCT