Great option to help you benefit from the equity you’ve earned.
Various documentation will be requested to process your Home Equity Loan Application. Learn more about the requested documents.
| Home Stretch Home Equity Loan | Maximum Term | Annual Percentage Rate (APR)* | Monthly payment per $1,000 borrowed |
|---|---|---|---|
| up to 15 years | 5.99% | $8.43 | |
| 16 to 30 years | 6.25% | $6.16 | |
*Loan requires a first lien equity position. Minimum loan of $10,000 and maximum of $250,000. Rate based on individual creditworthiness and subject to change without notice. 1-4 family owner-occupied properties only. Existing Rhode Island Credit Union loans are eligible with at least $10,000 in new money. Flood insurance may be required. Applicable trust review fees may apply. Other home equity loan programs, rates and terms available. Certain restrictions apply. |
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| Home Equity Loan 80% - 100% LTV | Maximum Term | Annual Percentage Rate (APR)* | Monthly payment per $1,000 borrowed |
|---|---|---|---|
| 20 years | 9.25% | $9.16 | |
*Maximum loan amount is $250,000.00 and maximum CLTV is 100%. Maximum DTI ratio is 45%. Rate is based on individual creditworthiness and is subject to change without notice. Owner occupied Single Family/Condo/Townhouse/Duplex properties only. Flood Insurance may be required. Applicable Trust review fees may apply. Other home equity loan programs, rates & terms available. Certain restrictions apply. |
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| Home Equity Line of Credit | Annual Percentage Rate (APR)* | ||
|---|---|---|---|
| 4.99% | |||
*The Annual Percentage Rate (APR) is 4.99% for the first year of the loan. After the first year, the APR will adjust to .51% below Prime Rate. Prime Rate is 6.75% as listed in The Wall Street Journal as of December 11, 2025. Rate based on individual creditworthiness and subject to change without notice. APR will not exceed 21% or fall below 3.00% in RI. The 10 year draw period is interest only payments then the 15 year repayment period is principal and interest payments. Minimum line of credit is $20,000 and maximum of $250,000. Existing Rhode Island Credit Union loans are eligible with at least a $20,000 line increase. Maximum loan-to- value is 80%. 1-4 family owner-occupied properties only. Property insurance (and flood insurance if applicable) are required. Applicable trust review fees may apply. Other home equity loan programs, rates and terms available. Certain restrictions apply. We will pay some or all of the bona-fide third party fees to open the plan. If you close your home equity line of credit plan within the first three (3) years from the opening date, you agree to reimburse us for any bona-fide third party fees we paid on your behalf. Rhode Island Credit Union NMLS #509121 |
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