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Equity Line of Credit
Now is the time to act with our best-ever rates and
terms. See the table below and consider how much
you can save
with our introductory rate of Prime Minus 1% for the
first six months. Plus you pay no closing costs on
line of credit limits of $10,000 and above.*
Line of Credit |
Introductory APR** |
Standard APR |
| Less than $10,000 |
Prime – 1% |
Prime + 1% |
| $10,000 - $24,999 |
Prime – 1% |
Prime + 1% |
| $25,000 and above |
Prime – 1% |
Prime |
You can
select the monthly payment plan that works best for
you. Your choices are:
- 1.5% of the principal amount due, including
interest.
- Accrued interest only.
- An amortized amount of the
unpaid balance.
*On lines of
credit less than $10,000, customer is responsible
for closing costs of between $1 and $1,500. On lines
of
credit of $10,000 and above, bank may assess closing costs of
between $1 and $2,000 if customer closes account
within two years.
**Introductory Annual Percentage Rate is in effect for the first six months after the loan is closed. After six months, the APR is the standard in effect at the time. Prime Rate is 5.25%. Rates are available to qualified borrowers and subject to credit approval. Maxiumum APR is 18%. A minimum draw of $200 is required. A balloon payment may occur on all plans. Loans have a 10 year draw and repayment period. Homeowner' insurance is required.
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