Home Equity

APL FCU offers two types of 2nd Mortgages: Home Equity Lines of Credit and Fixed-Rate Home Equity Loans. These loans use the equity of your current home for such things as weddings, tuition, home improvement and debt consolidation.


Home Equity Line of Credit

  • Variable Interest Rate = Prime plus 0%*
  • No Closing Costs**
  • Credit Lines from $5,000 to $200,000.
  • Borrow up to 90% of your home's value, less any liens
  • Monthly Minimum Payments of Just 1% of Your Outstanding Balance (except for balances below $10,000, which require a $100 minimum monthly payment)
  • An open-end line of credit available anytime through Online Banking, Telephone Banking, by phone, or walk-in
  • No minimum initial draw requirements. Lines with a $0 balance remain open for future use
  • Available for primary residences in MD, VA, PA, DE, DC and WV

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Home Equity Loan

  • Borrow as little as $5,000 or as much as $100,000 (based on 90% market value less liens)
  • Low fixed rates with terms up to 20 years
  • Members are permitted two Home Equity Loans at the same time; however, the aggregate may not exceed $100,000
  • Available for primary residences in MD, VA, PA, DE, DC and WV

Rates Apply Now Contact a  Loan Officer

* The rate may vary monthly and is based on the highest Prime Rate as published in the Wall Street Journal on the last day of each month, effective the following day. Maximum rate is 18.0% APR.

** APL FCU pays for the following closing costs at settlement: documentary tax, title examination, state recording fees and flood certification. If an appraisal is required, any fees associated with the appraisal are not considered part of the closing costs, and are payable by the borrower(s).
Please consult your tax advisor on deductibility of interest charges. Early termination fees apply for lines open less than 36 months. Adequate homeowners insurance required.


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