FlexLoan + Line of Credit
choose for you.
With a FlexLoan or a Flex Line of Credit, you choose your own terms. You can use it to lock in a fixed interest rate on one or more portions of a variable-rate loan, or consolidate high-interest debt into one monthly payment. As a a revolving loan, it also lets you borrow and repay as many times as you like.
Borrow up to $350,000 on your primary residence, with a loan-to-value max of 100%
Fixed + Variable Rate
Convert all or part of your variable-rate home equity into multiple fixed-rate loans
A revolving, open-ended loan that lets you borrow funds, repay and borrow again
What others are saying
It was nice to finally find someone to go above and beyond to help them.
As always you are very helpful, courteous, and professional. You and people like you are the reason I am with Allegacy and will never go back to a bank.
We had heard very positive comments regarding Allegacy so we applied for membership and a vehicle loan. Selina made the whole experience seamless and enjoyable. We will certainly consider Allegacy for any future financial needs.
At 1st, I was weary of the thought an out of state bank. Brandi and your team made the process so easy. She was very responsive informative and helpful. I am very thankful i found you guys.
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APR=Annual Percentage Rate. Rates are based on as low as the Prime Rate minus 0.25%. Rate is also affected by your credit history and profile and, like terms, are subject to change without notice. For FlexLoan segments, which can be exercised up to 5 times, a portion of your balance will have a fixed rate. Minimum amount for each option is $5,000. The FlexLoan Line of Credit is a variable rate with a 15-year draw period. The total maximum line of credit amount for the loan is $350,000 up to 100% LTV on primary residence. Using the Line of Credit option at a variable rate, if you made only the minimum monthly payment and took no other credit advances it would take 13 years to pay off a credit advance of $10,000 at 5.75% APR. During that period, you would make 60 payments of $73.49 to $100.00 followed by 95 payments of $95.21 and one (1) final payment of $94.43. For the fixed rate option, if you took no other credit advances it would take 10 years to pay off a credit advance of $10,000 at 7.74% APR. During that period, you would make 119 payments of $120.00 and one (1) final payment of $118.33. Appraisals are required on loan amounts of $100,000 or greater. Closings costs are paid up to $500. There is no annual fee or prepayment penalty fee. Homeowner’s insurance and, if applicable, flood insurance is required. Interest may be tax deductible; consult tax advisor for details.