*APR = Annual Percentage Rate.
1. The variable APR is based on The Wall Street Journal Prime Rate (the “Index”) plus a margin. This rate may vary with changes in the Prime Rate. As of 2/10/2021 Prime Rate is 3.25%. The maximum APR that can apply is 18.00%. The minimum credit limit and loan amount is $25,000; maximum is $250,000. 10-year draw period followed by a 15-year repayment period.
2. Margin – Your margin may vary depending on your credit score. Margin ranges between 1% - 2%.
Based on owner-occupied, California primary residences or second home only.
Home Owner’s Insurance is required.
HELOC: A Home Equity Line of Credit is secured by your home. 2.99% APR Intro Rate valid for first 12 months; after which will change to the regular rate (currently as low as 4.250% to a maximum APR of 18.00%). “Regular” rate after intro rate is variable. Loan subject to borrower and property qualifications, not all applicants may be approved. Rates and terms as of 2/10/2021 and are subject to change without notice. Conditions, restrictions and terms may apply.
Home Equity Loan: Payment sample: $100,000 home equity loan with 15-year term at 5.810% APR, resulting in 180 monthly payments of $830.41. A Home Equity Loan is secured by your home. Loan subject to borrower and property qualifications, not all applicants may be approved. Fees may vary from $309 to $708 depending on term and loan amount. Rates as of 2/10/2021 and are subject to change without notice. Conditions, restrictions, and terms may apply.
Please consult your tax advisor regarding the tax deductibility of interest on a home equity loan or line of credit
In the event the borrower requests a separate appraisal, and we agree; the borrower will be responsible for any fees.
We may pay some third party closing costs associated with this home equity line of credit on your behalf. If you close the home equity line of credit within thirty-six (36) months of opening, you may be required to reimburse us up to $500 for the bonafide third party fees paid on your behalf, as permitted by applicable law.