Home Equity Loans
Line of Credit
Visa® Platinum Line of Credit
Use a credit card to draw on your home equity funds when the need arises. Plus your monthly payments will be interest-only for the first five years during draw period.3
- Draw funds as needed
- Borrow up to 90% of the property value1
- Loan terms up to 20 years - 5 year draw and up to 15 year repayment period
- Competitive variable rate2
- Use a credit card to draw funds
- Make interest-only payments for first 5 years3
1. Some housing exceptions apply.
2. Minimum Annual Percentage Rate (APR) Floor of 4%. APR calculation is subject to change monthly and is based on the Prime Rate as published in the Wall Street Journal.
3. Interest only payments can be made for the first five years during draw period. After the draw period ends, required payments are calculated at $1.25 per $100 of the outstanding balance or $150, whichever is greater.
oPayment example: On a $35,000.00 loan with a 5 year term up to 90% property value at 4.620%APR, monthly payments would be $654.42. Closing costs range from $275.00 to $590.00.
+Closing costs may range from $0 - $1000.
Home Equity Rates
| Home Equity Type | Term | APR*** | |
|---|---|---|---|
| Home Equity Installmentº* (up to 90% property value)1 | Up to 15 years | 3.50% - 6.75% | |
| Home Equity Installmentº* (up to 80% property value)1 | Up to 15 years | 3.50% - 4.875% | |
| Visa Platinum Home Equity Line of Credit+ | Up to 20 years | 4.75% - 15.00% | |
| No Equity Home Improvement Loanoo | Up to 60 months | 6.99% | |
1. Some housing exceptions may apply. oPayment example: On a $35,000.00 loan with a 5 year term up to 90% property value at 4.620%APR, monthly payments would be $654.42. Closing costs range from $275.00 to $590.00. ooMaximum loan amount is $25,000. A minimum credit score of 680 is required to obtain this loan. Offer is subject to normal credit qualifications. Payment Example: On a No Equity Home Improvement Loan with a term of 5 years at 6.99%APR, monthly payments would be $494.91. *Actual rate based on applicant's payment and credit history. Additional appraisal fee may apply should one be needed. +Closing costs may range from $0 - $1000. ***APR= Annual Percentage Rate. | |||