With Rates on the Rise, Lock in Your Home Equity Line of Credit Rate with WyHy's New Hybrid HELOC
If you’re looking for a Home Equity Line of Credit (HELOC) or a Home Equity Loan, how about both all in one?
Our NEW Hybrid HELOC offers the flexibility you deserve and is easy to use. It starts out as a line of credit and allows up to two (2) fixed loan segments so your rate on each specified amount remains fixed, no matter what!¹
Use the value within your home for any variety of needs. If you don't want the funds in one lump sum and rather have access to the funds in bits and pieces when you need it — then a Home Equity Line of Credit is the route to go.
For Example: Let's say you're looking to do a bathroom remodel:
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You have a $100,000 HELOC with a balance of $50,000 on the line of credit, with $50,000 still available
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So you decide to “fix” $25,000 as one of your fixed rate segments
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Your fixed balance of $25,000 comes with a 10-year amortization¹
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Your available line of credit is still $50,000
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Your balance in the line of credit is now $25,000 at the same variable rate, with the other $25,000 locked into your fixed rate segment
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While you have two rate scenarios, they will be added together so you only have to pay one total amount each month until each segment is paid in full
It's a fixed rate loan with a line of credit all in one!
And as always, our HELOCs offer:
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Loan to Value (LTV): Up to 100%
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Draw Period: Up to 120 months / 10 years
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Repayment Terms: Loan is amortized for 240 months/20 years with the final 10 years strictly repayment of the loan balance
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Closing Fee: None
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Early Payoff Penalty: None
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Interest: Simple interest based on a 365-daily accrual
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Make your monthly payments in a variety of ways: in person, through the mail, auto deduction, payroll deduction, Online Banking or telephone banking
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Receive statements via Online Banking, or through the mail
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Members who select eStatements via Online Banking will be able to view their statements on the 1st day of each month
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Please reference Important Terms for more information on loan qualifications and examples. All loans subject to final credit approval. Consult your tax advisor concerning the deductibility of interest.
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Home Equity Loans
Use the value within your home for anything from home improvement projects, to planning a wedding or paying for school. So if you own property in the State of Wyoming, our Home Equity Loans offer:
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Loan to Value: Up to 100%
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Repayment Terms: You have several options to choose from, based on your credit score and loan amount. Payments will remain the same through the term of the loan.
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Interest Rates: Based on your credit score and loan to value
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Closing Fee: Fees will vary and are based on loan amount and loan to value. Fees may include, but are not limited to: appraisal fee, document preparation, flood certification, origination fee, recording fee and title insurance.
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Early Payoff Penalty: None
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Late Fees: The greater of 5% of the payment, or $25 after 10 days
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Interest: Monthly 360 day accrual
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Make your monthly payments in a variety of ways: in person, through the mail, auto deduction, payroll deduction, Online Banking or telephone banking
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Receive statements via Online Banking, or through the mail
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Members who select eStatements via Online Banking will be able to view their statements on the 1st day of each month
Apply Now View Rates Online Payments