Home Equity Rates
| Home Equity Line of Credit (HELOC) | ||||
|---|---|---|---|---|
| Rate* | Points | APR | Maximum Amount |
|
| HELOC | 4.90% | 0 | 4.90% | $75,000 |
Adjustable Rate: As of 4/30/08. The annual percentage rate is based on the value of an index. The index is the weekly average yield on U.S. Treasury Securities adjusted to a constant maturity of one year. We add a margin of 2.75% to the value of the index and round up to the next .25% if the rate is not already rounded.
Appraisal fee and closing costs are approximately $350.00. Fees are waived when there is an initial advance of $10,000 or more. If the borrower terminates the agreement and requests a discharge of mortgage within 24 months from the date of the note, borrower shall then be obligated to pay Lender the full amount of the waived costs. Adequate property and flood insurance (if applicable) is required at time of closing.
Maximum APR is 20.0%. Consult with your tax advisor for income tax implications.
All rates subject to change without notice.