Second mortgage installment loans are available in varying level of Loan-to-Value (LTV) up to 80% of the estimated value of the property, less the amount of any first mortgage. Home Equity Lines of Credit are available up to 80% LTV.

Four Points Federal Credit Union offers several interest rate plans for second mortgage installment loans. These include fixed, variable and adjustable rate plans. Click below for more information on each of these plans.

• Variable Rate
• Adjustable Rate
• Short-Term Fixed Rate

All Rates: view a full schedule of all loan and savings rates in our current newsletter.

Variable Second Mortgage Rates
Variable rates may be adjustable periodically at the disceretion of the the credit union Board of Directors and are not indexed to any internal or external interest rate.

Conventional Installment Loan Variable Interest Rate	APR	Estimated Monthly Payment per $1,000 On 15-Year Term (180 Months)
Up to 80% LTV	4.75%	$7.78

Adjustable Second Mortgage Loans
the credit union offers an adjustable rate plan that is a variation of the variable rate. The Adjustable Rate Mortgage (ARM) offers options to fix the interest rate for 3-year or 5-year periods. At the end of the fixed rate period, the interest rate adjusts to the Four Points ARM rate that is in effect at that time.

Four Points ARM loans differ from conventional ARM loans in that there is no external index or margin. The rate is established by the Four Points Board of Directors.

All other terms and conditions are the same as the variable rate plan, including loan to value and repayment terms up to 15 years. The fixed period is for the first 3 or 5 years of the loan term. This adjustable rate plan is not available on open-end Home Equity Lines of Credit which have a separate rate adjustment plan with an external index and margin.

Fixed Rate Period	APR	Estimated Monthly Payment per $1,000 Based on 15-Year Loan
3 Years	5.05%	$7.93
5 Years	5.50%	$8.17

At the end of the fixed rate period, the interest rate adjusts to the Four Points ARM rate in effect at the time of adjustment.

Fixed Interest Rates
Length of Term, Rate, Sample Monthly Payment per $1,000 For Term Shown in Column Heading

LTV	APR	36 Months	APR	48 Months	APR	60 Months
Up to 80%	5.00%	$29.97	5.10%	$23.07	5.20%	$18.96

Home Equity Line of Credit is based on 80% LTV. Interest rate is subject to adjustment quarterly based on the Prime Rate as published in the Wall Street Journal and is priced at Prime +1%. Estimated Monthly Payment per $1,000 for term of 15 years (180 Months)

Home Equity Line of Credit

Variable Rate

4.25% APR

Estimated Monthly Payment per $1,000 for term of 15 years (180 Months): $7.52

Four Points Federal Credit Union is an Equal Housing Lender, an Equal Opportunity Lender, and complies with all requirements of the Federal Truth in Lending Act. All published rates are subject to change without notice. Existing variable rate loans are subject to change with a 30-day notice.

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IMPORTANT DISCLOSURES
The following information is provided to you pursuant to the requirements of the Truth in Lending Act and Regulation Z of the Federal Reserve Regulations. Regulation Z prescribes uniform methods of computing the cost of credit, disclosure of credit terms and procedures for resolving errors on certain credit accounts. Four Points Federal Credit Union loan products are offered as open ended credit and closed ended credit depending on the type of loan you desire. The disclosures contained herein do not contain all of the disclosure information which you will provided if your loan is consummated. Additional disclosures required by law and regulations may be provided to you at various timed during the processing of your request as required by law.

OPEN-END CREDIT-HOME EQUITY LINES OF CREDIT: THIS DISCLOSURE NOTICE CONTAINS IMPORTANT INFORMATION ABOUT THE FOUR POINTS FEDERAL CREDIT UNION'S HOME EQUITY LINE OF CREDIT LOANS. YOU SHOULD READ IT CAREFULLY AND KEEP A COPY FOR YOUR RECORDS. Terms Subject to Change. The rates contained herein are effective as of January 1, 2010. However, the terms described in this disclosure are subject to change at any time. If, prior to your signing the loan documents, any of these terms have changes (other than the annual percentage rate) and you decide, as a result, not to obtain a home equity loan from us, you would be entitled to a refund of any fees that you paid in connection with your application.

Fees. No loan fee calculated as a percentage of the credit limit to be extended or any other fee is imposed by Four Points Federal Credit Union or by a third party for establishing the loan account or the making of the loan. However, certain costs will be incurred by the borrowwer which may include the actual costs for verification of estimated market value of the property, title lien search, flood plain certification, fee of the closing agent, filing fees and other incidental costs incurred by the credit union or the borrower for services requried to complete the loan transactions. These fees generally total between $500 and $1,500. If you ask, we will give you an itemization of the fees you may have to pay for this transaction.

The Annual Percentage Rate. This type of loan has a variable rate feature, and the annual percentage rate, corresponding to the periodic rate, can change as a result. As a result of the change in interest rates, the minimum payment amount will not change unless specifically requested by the borrower, instead, such increase in interest may result in additional payment(s) beyond the scheduled number of regular payments in order to pay for the additional interest costs. The annual percentage rate includes only interest and not other costs. The annual percentage rate is based on the value of an index. The indes is the Prime Rate as published in the Wall Street journal plus 1.00%. If a range of rates is published, the higher rate will be used.

Rate Changes. The rate may change on the first day of each calendar quarter. The index rate value used will be as of 10 days before the date of any rate adjustment. The loan rate will increase or decrease as the index increases or decreases from time to time. The credit union, at its sole discretion, may elect to change a rate that is less than the index rate plus the margin. Contact the credit union for current index value, margin and annual percentage rate. After you open a credit line, rate informatin will be provided on periodic statement that will be sent to you.

Maximum Rate and Payment Examples. The annual percentage rate can change each month. THERE IS NO MAXIMUM ANNUAL PERCENTAGE RATE THAT CAN APPLY. There is no limit on the amount by which the rate can change during any one month period. If your line of credit had a peak balance of $10,000 at 10% annual percentage rate with an amortization period of 180 months (15 years) your monthly payment would be $107.46. If the rate increased to the highest historical rate over the past twenty (20) years, (20.08% index plus 1.00% margin in 1981) you would need to increase your monthly payment to $183.66 in order for your loan to be fully repaid as scheduled.

Membership or Participation Fees. You must be a member of the Four Points Federal Credit Union to obtain a loan from Four Points Federal Credit Union. There is no membership or participation fee associated with that membership and no such fee is imposed for obtaining a loan.

CLOSED-END CREDIT: THIS DISCLOSURE NOTICE CONTAINS IMPORTANT INFORMATION ABOUT FOUR POINTS FEDERAL CREDIT UNION’S CLOSED END-CREDIT LOANS. YOU SHOULD READ IT CAREFULLY AND KEEP A COPY FOR YOUR RECORDS. Terms of Repayment. First mortgage real estate loans are available on both variable and fixed rate plans. Fixed rate loans are made only on terms up to 60 months, with the exception of extended term vehicle loans which may be made at fixed rates up to 72 months. All loan of terms longer than these will be made only at variable rates of interest. Long term fixed rate first mortgage loans are available through a program with the Federal Home Loan Bank.

The Annual Percentage Rate. The Annual Percentage Rate for closed end credit loans are subject to change. At the currently published interest rates, the repayment terms would be as described in the above chart.

Interest Rate Changes. The rates contained herein are effective as of January 1, 2010. However, the rates and terms described in this disclosure concerning variable rate loans are subject to change at any time. FOUR POINTS FEDERAL CREDIT UNION IS AN EQUAL HOUSING LENDER, AND EQUAL OPPORTUNITY LENDER AND COMPLIES WITH ALL REQUIREMENTS OF THE FEDERAL TRUTH IN LENDING ACT AND APPLICABLE REGULATIONS. ADDITIONAL DISCLOSURES REQUIRED BY LAW AND REGULATIONS MAY BE PROVIDED TO YOU AT VARIOUS TIMES DURING THE PROCESSING OF YOUR REQUEST AS REQUIRED BY LAW.