Home Equity Lines of Credit
No Doc Fast Equity Home Loans
Fixed Rate Home Equity/Second Mortgages
15 Year Adjusted Rate Mortgage (ARM) NEW LOAN TYPE
Credit Life and Disability Insurance

Home Equity Lines of Credit

At Viriva, homeowners can take advantage of the equity in their home to get the cash they need.  With a Home Equity Line of Credit, you’ll enjoy a variable rate for the term of the loan.  Simply apply for the Line of Credit, and qualified members will be approved for a certain amount.  We’ll also provide you with a customized checkbook linked to your HELOC, so accessing your funds is as easy as writing a check. If you’re a homeowner in need of some cash, this may be the solution for you!

• Competitive rates and terms up to twelve years
• 80%-100% loan-to-value (LTV) financing*
• Instant decisions when you apply online.  
• 7-year draw period
• Credit Lines up to $75,000*

*For qualified borrowers.

No Doc Fast Equity Home Loans

• Financing up to $50,000
• No income documentation required

To qualify:

1. Own and reside in the home being used as collateral.
2. Good credit history (credit score of 680 or above).
3. Have at least 5 credit bureau tradelines (currently outstanding or paid loans/credit cards that appear on your credit report).

Fixed Rate Second Mortgages

If you’re a homeowner looking for the stability of a fixed rate and term for your home equity loan, then a Second Mortgage may be the option for you.  With this type of loan, homeowners enjoy a stable rate and term for the duration of this loan, which uses the equity of your home to determine your amount.

15 Year Adjusted Rate Mortgage (ARM) NEW LOAN TYPE

If you're looking for the flexibility of locking in today's low rates, without significant out of pocket costs, and the opportunity to pay off your debt in a targeted timeframe (i.e, pre-retirement), now's your chance!

Viriva CCU's NEW Adjustable Rate Mortgage (ARM) program allows you to borrow funds based on the time frame that best fits your needs, while saving  money on up-front application and closing fees.

• Terms ranging from 60 to 180 months
• A fixed rate for the first 5 years that only resets after the 5th and 10th year anniversary
• Rates starting as low as 3.25%*
• No points involved
•  Borrow up to $150,000
• Save with a lower monthly payment 
•  Low origination fees

Want to learn more about our new ARM program or to find out what loan program best meets your needs? Please call us today at 888-7-VIRIVA (215-333-1201 for local calls) or email This e-mail address is being protected from spam bots, you need JavaScript enabled to view it .

*Disclaimers - APR=Annual Percentage Rate. Rate shown effective through 5/31/2012. Final approval and actual rate subject to individual credit worthiness of applicant. The ARM program is an adjustable rate mortgage and interest rate and payment can change (up or down) after the initial 5 and 10 year fixed rate periods, based on changes in the Prime Rate. Minimum APR is 3.25%. Maximum APR is 18.00%. Application fee of $300.00 applies for homes located in Philadelphia County or $250.00 for homes located in the state of NJ and Bucks, Delaware and Montgomery Counties in PA. Property insurance is required. Title insurance may be required on loans exceeding $50,000.00.  Minimum loan amount is $25,000.00 and maximum loan amount is $150,000 with a maximum Loan To Value Ratio of 80%. No loan discounts apply. A refinance of an existing VCCU loan requires member to borrow an additional $25,000 in new money.  Contact a Viriva Representative for additional promotion details by calling the number listed above.

Credit Life and Disability Insurance

Your unexpected disability or death can affect your household's income level and change your family's standard of living in an instant, making household financial commitments difficult to meet.  Coping with your disability or death can be emotionally and physically stressful for your family.  Struggling to make loan payments on a reduced or lost income is another heavy burden your family shouldn't have to bear.  When you choose to protect your loans with MEMBER'S CHOICE® Credit Life and Credit Disability Insurance, you're planning for your family's financial future.*

With payment protection like MEMBER'S CHOICE Credit Life Insurance, if you pass away and your claim is payable, your eligible loan balance is reduced or paid off.  With MEMBER'S CHOICE Credit Disability Insurance, if you're disabled due to injury or sickness, your loan payments will be paid until you're no longer disabled, your loan is paid, or you reach the policy maximum.*

The benefits of MEMBER'S CHOICE payment protection:

• Simple and quick enrollment - on your enrollment document, choose the credit insurance you prefer
• Immediate coverage - when the loan closes, you're covered
• Easy payment  - premium is included in monthly loan payment
• Financial security - coverage reduces or pays off your loan balance in the event of death or makes loan payments in the event of disability
• Peace of mind - know that your family won't struggle to make loan payments
• Complements existing insurance - credit life and credit disability insurance covers your loan payments so other funds can be used to care for your family's day-to-day expenses
• Maintains family's living standard - loan payments are made so family assets and savings are preserved

 *Be sure to read the Credit Insurance Application and Certificate of Insurance which will explain the exact terms, conditions and exclusions of the policy.  Eligibility requirements including age maximums, working requirements and health questions may apply.  Also, benefits may be subject to a waiting period.  The policy may include maximum coverage or benefit amounts and/or durations.  Exclusions for pre-existing conditions, normal pregnancy, intentional injury, air travel and/or atomic explosions may apply.