Home Equity Promotion – 1.75% APR first 6 months (Iowa Only)

April 18, 2012 1 Comment »

1.75% Home Equity LoansWe were just forwarded a nice promotional home equity offer from Iowa Community Credit Union which is available for a limited time.

Currently, the promotion allows qualifying borrowers to lock in a home equity rate as low as 1.75% APR for the first six months followed by Iowa CCU’s standard home equity rate, featuring rates as low as 3.75% APR (see below for full list of options available after promotional period).

This deal is for Iowa residents who are eligible for membership at Iowa Community Credit Union only. If you’re not included, visit our home loan center for updated offers in your area.

Who Should Take This Offer?

This is and ideal promotion for those looking to remodel a house or are even considering flipping a property. Believe it or not, flipping homes is once again a hot business model with 2012 looking to be a big year for home flippers.

Of course flipping properties doesn’t come without a decent amount of risk, but those whom are already committed to it may find this deal very beneficial. Because home-flippers only hold a piece of property for a relatively short period of time, a 6 month 1.75% APR period can go a long way in terms of providing cheap capital.

Also, for those who have decided to move within the year but need to do a little remodeling beforehand, this offer may also be fitting for those budgetary needs.

1.75% APR 6-month Home Equity Deal from ICCU:

- $125 in closing costs.

- Proof of home ownership required.

Terms available after 6 month promotional period:

- 3.75% for a 5-year term

- 4.25% for a 10-year term

- 4.75% for a 15-year term

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  • Ryan

    Do you have to roll the loan into another 3,5, or 10 year mortgage once the 6 months is over or can you just use it for 6 months and be done with it?