skip to main content

New! Information on stimulus payments. Updates on branch lobby visits. Plus, learn how you can perform most common transactions without leaving your home or car, or make a branch appointment.

LEARN MORE
LEARN MORE
 

HELOC Rate Modifications

HELOC Rate Modifications

As a Landmark member with an existing Home Equity Line of Credit (HELOC), you have two options if you would like to take advantage of the new lower introductory rate. Those options are detailed below.

  Modify Your Existing HELOC Apply for a New HELOC
Best For If you want a quick and easy way to take advantage of the lower rate on your existing HELOC without modifying your credit line or promotional term. If you are ok with a bit more paperwork and possible other appraisal and would like to increase your credit line or begin with a fresh promotional rate term.
Your Line of Credit Limit Will not change You’ll need to increase your limit by $5,000 or more to take advantage of the promotional rate.
Loan to Value Limit Will need to be at least 70% or lower to take advantage of the promotional rate.1 Will need to be at least 70% or lower to take advantage of the promotional rate.
Promotional Rate Term Your term will begin with 12 months of the promotional rate. Your term will begin with 12 months of the promotional rate.
Fee $89 flat fee No fee3
Credit Inquiry Will require a new credit inquiry which may have an impact on your credit score.2 Will require a new credit inquiry which may have an impact on your credit score.
Appraisal Does not require a new appraisal to be performed.1 May require an appraisal based upon your property attributes.
Timeframe It’s quick and easy and can be done completely electronically, in most cases in under a week. May require some additional paperwork to validate current income and other items. May take up to 3-4 weeks to close on the new line.
  Modify Existing HELOC Apply for a HELOC

Promotional rate available on loans for owner-occupied primary residences with loans up to 70% Loan-to-Value (LTV) and credit scores of 680 or higher. Other restrictions may apply.

1 This is determined based on your loan information as of the closing date of your loan.

2 Credit score from original HELOC closing must be 680 or higher.

3 No closing costs or application fees if: (i) Loan-to-Value (LTV) ratio is less than or equal to 90%; (ii) balance/limit is $10,000 - $250,000; and (iii) home is a single family residence and owner occupied. Fees will apply if these terms are not met. Additional loan programs may be available. Homeowner’s insurance required. Early termination fee applies.

Routing Number: 275079714
NCUA Equal Opportunity Housing
back to top