*All rates and terms are subject to change without notice. All offers are subject to credit approval; applicants may be offered credit at higher rate and other terms. Other conditions may apply. Homeowners insurance required on all loans secured by real property; flood insurance may also be required.

4 HELOC Introductory Rate for 24 months. New loans only. To receive this rate an individual must maintain an outstanding balance of $25,000 for the first 24 months. HELOC is a variable rate product. After the initial 24 months, the APR will vary with the market based on the Prime Rate. Prime Rate currently 3.25%. Primary residence only and property must be located in New York. Mortgage tax must be paid by borrower if residence is not in Nassau County or Suffolk County. Line must remain open for 36 months to avoid payment of closing costs. Not available to Members who have an existing Island Home Equity Loan or Line of Credit. See HELOC product description for more details.  

+For Fixed Rate Home Equity Loans with No Closing Costs the monthly payments must be paid by automatic deduction from an Island checking account otherwise add 1.00% to rate. For terms over 120 months, add .25% to rate listed for No Closing Costs option. For loans over over $300,000, full title policy required and paid by member. Rates listed require the borrower to pay closing costs.

**Mortgage rates change daily. Lower rates are available with payment of "points." The 1% 60-day rate lock is refunded at closing provided you close mortgage within 60 days of date rate is locked in. Members who do not lock in a rate will be given the rate in effect seven (7) calendar days prior to closing. Membership in Island Federal Credit Union is open to anyone who lives, works, worships or attends school in Nassau County or Suffolk County (with the exception of the townships of East Hampton, Southampton and Shelter Island). Share account with $1 minimum balance required. APR based on a $165,000 Convention loan assuming the highest credit rating.

***Mortgage Special: Must have a 700 FICO Score and Loan to Value must be 70% or less/Monthly payments must be automatically deducted from an Island FCU checking account for life of loan. Rate lock fee does not apply. One family primary residence in Nassau or Suffolk County. APR based on a $165,000 Convention loan assuming the highest credit rating.

****Mortgage must remain open for 36 months to avoid payment of closing costs.

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