Rates accurate as of December 1, 2023
|HELOC Type||Interest Rate||Annual Percentage Rate (APR)||Loan Fee|
|LTV - Up To & Including 80%|
|LTV - Up To & Including 80%||8.625% Variable||8.625%||$0|
|LTV - Up To & Including 80.01% - 90.0%|
|LTV - Up To & Including 80.01% - 90.0%||9.875% Variable||9.875%||$0|
The value of the index is based on the Wall Street Journal Prime Rate. The rate is computed by adding the Wall Street Journal Prime Rate + our margins of .125 or 1.375. The current Wall Street Journal Prime Rate is 8.500%, however, we have an Annual Percentage Rate minimum (floor) of 4.00%. The maximum Annual Percentage Rate (APR) is 18.000%.
*Maximum Loan Amount is $250,000; however, the following stipulations apply:
- If Olyfed is in 1st lien position, 90% maximum loan to value up to $150,000
- If Olyfed is NOT in 1st lien position, 80% maximum loan to value up to $150,000
- 75% maximum loan to value for loan amounts $150,001 – $250,000.
- 75% maximum loan to value if the purpose of the HELOC is for debt consolidation
FEES AND CHARGES. To open and maintain a line of credit, you must pay the following fees to us:
Maintenance: $50.00 (due annually). Note that some fees may only apply upon the occurrence of an event and have been provided for informational purposes only.
You must also pay certain fees to third parties, such as appraisers, credit reporting firms, and government agencies. These fees generally total $588.00 to $2,463.00.
The following are an estimate of third-party fees:
- Appraisal: $0 – $1,100.00
- Credit report: $25.00 – $50.00
- Official: $215.00
- Title insurance: $250.00 – $1,000.00
- Flood Determination: $17.00
- Tax Registration: $81.00
Olympia Federal Savings reserves the right to charge to customer a fee, as allowed by law, for any check tendered to Olympia Federal Savings that is not honored and returned to Olympia Federal Savings for any reason including, but not limited to, a stop payment order, insufficient funds or an over the limit draft. You must carry insurance on the property that secures the line of credit.