If you are in the market, please contact a Home Equity Loan Coordinator before applying or call 412-344-3406.
Home Equity Terms
The maximum loan amount cannot exceed 90% of the appraised value of the property less any mortgage balance. The minimum loan amount is $10,000.00. Tri Valley Service Federal Credit Union must hold nothing less than second position as a lien holder against your deed. Loans will only be made on the applicant’s primary residence which must be within the state of Pennsylvania. Rental property, vacation homes, or owned land cannot be used as collateral.
The following costs will be paid by the borrower:
- Flood Search
- Property Report
- Any fees in relation to recording the appropriate documents
- Satisfaction fee will be required at the termination of the loan.
Should a situation arise of an unusual nature during the home equity process, the cost will be paid by the borrower and not the credit union.
Homeowner’s insurance is required. Replacement value coverage must be for the full amount of the mortgage. The credit union must be listed as loss payee on the insurance policy and must be listed as first or second mortgagee. If it is determined the property is located in a flood zone, the borrower must purchase flood insurance on the property. All insurance coverage must be maintained for the life of the loan.
See our TVS Member Choice Borrower Security for a peace mind.
See current rates.
See our financial calculators here.
NMLS – verify a financial services provider
*APR=Annual Percentage Rate. Rate based on creditworthiness of individual applicant and subject to change without notice. Approval based on normal lending guidelines.
Dina Auth NMLS 744433
Andrew Kloss NMLS 1906972
Carol Mattesi NMLS 867017