Today's Rates

** 2.99% Promotional Rate ends 5/1/2015; thereafter the HELOC will have a variable rate indexed to Prime, currently 3.25% APR. Home Equity Credit Lines and Personal Lines of Credit have a variable rate indexed to the Prime rate. Home Equity Line of Credit APR will never exceed 21.75%, and will never exceed the highest allowable rate for this type of agreement as determined by applicable state or federal law. Home equity loans may only be written for home in MN and WI. Promotional loan rates apply to new loans and are not valid for refinancing of existing SharePoint loans. Must have an active SharePoint Checking or Visa Credit Card to receive promotional rate. Contact your advisor about the deductibility of home loan interest. SharePoint will pay for all closing costs, excluding the costs associated with mortgage registration tax and appraisal. Average mortgage registration tax is between $10 and $250. The average appraisal cost is between $150 - $400, but actual costs may vary by appraisal company and will be the responsibility of the member. Home Equity Loans that are paid off within the first year will be charged an early payoff penalty. Property insurance is required for Home Equity Loans and Credit Lines. Additional loan rates and terms are available. Rates and terms are subject to change.

***Freedom Mortgage: As low as 2.99% APR is for up to an 8 year term. Loan-to-value up to 80%. SharePoint must be in first lien position. Maximum term is 12 years. $899 flat fee applies to loans $100,000 and under, $1199 flat fee for loans over $100,000. There is no prepayment penalty with this loan. 2.99% APR for 8 years with a $70,000 balance the payment is $820.75 P & I.

Sample month payment on Home Equity loans: Home Equity loan (80% LTV): $10,000 for 10 years at 4.49% is $103.59. Home Equity loan (100% LTV): $10,000 for 10 years at 6.99% is $116.06.

The information provided assumes the purpose of the loan is to purchase a property, with a loan amount of $150,000 and a loan to value of 80% or less. The property is an existing single family residence, located in Hennepin County, and will be used as the primary residence. An escrow account is required. The rate lock period is 60 days and the assumed credit score is 740. 

At a 3.250% interest rate, the APR for this loan type is 3.388%. The payment schedule would be 

·         359 payments of $652.81 at an interest rate of 3.250% 

·         1 payment of $652.46 at an interest rate of 3.250%

If an escrow account is required or requested, the actual monthly payment will also include amounts for real estate taxes and homeowner’s insurance premiums.

To calculate your sample mortgage payment; copy and paste the following into a new browser window: https://sharepointcu.com/calc_mtgPmtCalc.asp