A Home Equity Line of Credit is a revolving line of credit that works much like a credit card.
It is an open ended line of credit that is secured by the equity in your home.
Online Bankingreal estate investment
Term | 5 Years | |
Introductory Rate | First 12 Months- with Auto-Pay (ACH) | 2.50% |
Introductory Rate | First 12 Months- without Auto-Pay (ACH) | 3.50% |
Rate-Next 9 Years | With Auto-Pay (ACH) | Prime Floating with a 4.00% Floor |
Rate-Next 9 Years | Without Auto-Pay (ACH) | Prime Floating + 1.00%, with a 5.25% Floor |
Closing Costs | Line must be open for 2 years* | $0.00 |
Minimum Line Amount | In order to get the advertised special rates | $10,000 |
Floor | With Auto-Pay (ACH) | 4.00% APR |
Ceiling | With Auto-Pay (ACH) | 20.00% APR |
*Loan Special for a limited time. APR= Annual Percentage Rate. Interest rates and APR are accurate as of 3/17/2020.
**The Line of Credit will have a floor of 4.00% after the first year with monthly payments automatically deducted from a bank account.
*** Offer is subject to change without notice.
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