Open the Door...to Affordable Financing
A Home Equity Line of Credit provides you, the homeowner, with immediate access to the equity in your home.
A HELOC from Space Age gives you the ability to draw on your home’s equity whenever you want during a five year period of time.
- You do not have to use your entire Home Equity Line of Credit at once.
- The term on a Home Equity Line of Credit is 15 years, with a 5 year draw and a 10 year payback.
- The interest on a Home Equity Line of Credit from Space Age is based on the Prime Rate, currently as low as 5.50%APR*
- Your Home Equity Line of Credit could be 100% tax deductible.**
*APR=Annual Percentage Rate. WAC=With Approved Credit. Interest on a Home Equity Line of Credit is calculated at a variable periodic rate based on the Wall Street Journal Prime Rate as of the last day of the prior month, currently 5.25% and applied to the daily principle balance. The periodic rate may change on the first day of the month following a change in the Wall Street Journal Prime Rate. Contact the credit union for further details.
Fund Your Remodel or Other Large Purchase with a Second Mortgage
**Consult your tax-advisor.
A Second Mortgage from Space Age gets you a fixed rate loan secured by your home.
- Take advantage of rates that are still low.
- To see current rates click here.
- The interest paid on a Second Mortgage may be tax deductible.*
*Consult your tax-advisor.
When applying, use the following list to ensure a smooth application process. You will need:
- Proof of Income
- Current Balance on First Mortgage
- Copy of Homeowners Insurance**
- Tax Assessment / Appraisal***
Contact a Space Age Representative at 303-369-7666 for all Regulation Z required disclosures.
**Insurance coverage will need to be enough to cover both first and second mortgage balances and Space Age Federal Credit Union must be listed as lien holder.
***One of the two – depending on loan amount.