The following are guidelines for Georgia Power NE CU Home Equity Loans:

• Variable Rate - Rate is calculated at 1% above Prime and can adjust twice a year in January and July. This rate cannot increase or decrease more than two percent per year (one percent per six months).
• Then Year Term - 120-month term with no ballooning at the end.
• Minimum Advance is $1000 - Advances are available throughout the term of the loan. Payments would be recalculated with the current rate and remaining term at the time of the advance.
• Line of Credit maximum will be $75,000.00 and is calculated by:
  120% of most recent tax assessors' statement of property value minus the first mortgage balance OR
  90% of a full appraisal value** minus the first mortgage balance
• Closing Costs are currently paid by the Credit Union. NO CLOSING COSTS PAID BY YOU!**
• Interest is normally tax deductible in most cases, however, please check with your tax consultant to verify deductibility for your individual finances.
• Processing time ranges from one to two weeks until closing.
• If you would like to begin this process we will need to provide you with a Home Equity Brochure and an Early Disclosure.

We will ask you to complete a Loan Application and a few steps to initiate the loan process.

We strive to make the Home Equity Lending process easy and convenient for our members. Let us provide you with our great personal service as you obtain your Home Equity Loan.

**A Full Appraisal will be paid for by the applicants(s).