Home Equity Line of Credit
(Primary Residence)
A home equity line of credit (HELOC) is similar to a home equity loan as the maximum loan amount is
determined by the equity in your home. Instead of receiving the amount in full, however, you are
given a line of credit to draw funds up to your credit limit. Your available credit replenishes
as you repay the outstanding balance.
Features
- No origination fees*
- 10-year draw period; repayment period next 15 years
- Interest-only payments for first 10 years; remaining 15-year term is fully amortized
- No prepayment penalty*
- Condos and town homes are eligible*
- In-house loan servicing for the life of your loan
*Some restrictions apply. Click Terms & Conditions link below for details.
Margin
Range |
APR |
Max.
Loan |
Max.
CLTV |
Est. Pymt.
/$1,000 |
1.200% -
2.200% |
4.450% -
5.450% |
$250,000 |
80% |
Interest Only |
| Margin |
APR |
Max.
Loan |
Max.
CLTV |
Est. Pymt.
/$1,000 |
| 2.200% |
5.450% |
$100,000 |
90% |
Interest Only |
PLEASE BE ADVISED:
The pricing you may qualify for is based on factors including your credit rating and the combined
loan-to-value (CLTV) of your property. A minimum credit qualifying score is required. Pricing
effective as of 3/14/2010 and subject to change without
notice. An approved application is required for pricing to be determined.
APR: Variable; may increase after loan consummation.
Payments: Interest-only payments are made for the first 10 years. The remaining 15-year term is fully amortized.
Lifetime Maximum Cap: 18.000% APR. The highest rate that can be charged.
Lifetime Floor Rate: 4.000% APR. The lowest rate that can be charged.
Index Rate: 3.250%. The current highest "prime rate" as reported in The Wall Street Journal on the last business day of the month preceding the start date of each billing cycle.
Fully Indexed Rate: The index rate plus margin that results in the APR.
Questions? Call a real estate loan consultant at 714/258-4000 or 800/462-8328, extension 8288. Consultants are available Monday - Friday, from 8 a.m. to 7 p.m., and Saturday, from 9 a.m. to 3 p.m.
