On January 1, 2018 changes were made to the tax law that will affect the deductibility of Home Equity Loan interest.
At LGE Community Credit Union our goal is to help you achieve financial success by offering solutions to help you save. Refinance your Home Equity Line of Credit (HELOC) or Home Equity Loan into any first mortgage product with LGE and we’ll waive our origination fee!
Save up to $4,000*
During the promotional period, we are waiving our origination fee (equal to 1% of loan amount) up to $4,000**! That means if your loan amount is $200,000, you will save $2,000! Plus, pay no intangible tax on your loan, which saves you an additional $600 on a $200,000 loan. And of course, the savings will continue with our low loan rates.
Why you should take advantage of this?
On January 1, 2018 changes were made to the tax law that will affect the deductibility of Home Equity Loan interest. In the past, homeowners who took out home equity loans were potentially eligible to deduct the loan’s interest. Under the new tax bill, this deduction is a thing of the past and NO ONE is grandfathered in as an exception. The tax law does allow interest deduction on certain refinance transactions. Please consult your tax advisor regarding tax benefits and deductions.
Offer is only available January 31 through February 14!
To save and put more money in your pocket by having your origination fee waived call LGE at 770-424-0060 option 5 or click here to apply online.
Thank you for being a valued LGE member!
Membership eligibility required: must be an existing member or must establish a base savings account at LGE with a $5 minimum balance to apply for a loan. All loans subject to approval. Excludes condos, manufactured homes, and investment/rental properties. This email is not intended as tax advice; consult your tax advisor regarding tax benefits and deductions.
*1% of loan amount not to exceed $4,000. A $400 administration fee, discount points, and third party fees still apply.
** Loan must close within 60 days of applying for the mortgage. Discount applies only to completed mortgage applications submitted between 12:01 a.m. ET on January 31 until 11:59 p.m. ET on February 14, 2018. Excludes new home purchase loans and refinances not used to payoff any existing Home Equity Line of Credit (HELOC) or Home Equity Loan. Applications that are already in process prior to the promotion are not eligible. Rates are 60 day pricing. Mortgage approval based on credit qualifications. Cannot be combined with any other mortgage discount.