Home Equity Line of Credit
Effective June 13, 2013
- Term - 120 Months
- Minimum Amount - $10,000
- Maximum Amount - 80% of Appraised Value
- Rate** - 2.99%
- APR* - 2.99%
Monthly Payment Example: Under the monthly payment option, if you made only the minimum monthly payment and took no other credit advances, it would take 9 years and 4 months to pay off a credit advance of $10,000.00 at an ANNUAL PERCENTAGE RATE of 3.000%. During that period, you would make 111 payments varying between $125.00 and $100.00, with a final payment of $57.10. (payment does not include payment for escrow account (taxes, insurance, etc.)
- Preferred Home Equity Line of Credit [HELOC] APR assumes a $10,000 loan amount. This is an Open End Variable Rate Loan based on Prime Rate [as published in the Wall Street Journal: U.S. Prime Rate” (Prime)] as published on the last business day of the month, currently 3.25% as of 04/19/2013 minus .26%. (Prime Rate 3.25% less .260% = 2.99% APR). This is a variable rate loan and the interest rate/APR may increase. Monthly payments vary based on account balance and interest rate/APR and minimum payment requirements.
- Minimum APR is 2.99% (floor) and Maximum APR is 18.00% (ceiling).
- Loan approval subject to Bank’s Loan Underwriting Guidelines. Offer is based on review of your credit history.
- Minimum loan amount is $10,000 and maximum loan amount is $150,000.
- Fees typically range between $650 and $750. However, with this promotional offer, the fee to obtain a loan up to $150,000 is $149.
- Title insurance required, with fee to be paid by borrower(s) for loans over $150,000.
- Real estate appraisal required.
- Promotional Interest Rate offer is available for new Charleroi Federal Savings Bank home equity line of credit loan only and does not apply to refinancing of any existing Charleroi Federal Savings Bank loan accounts.
- Property must be owner occupied primary residential property in Bank’s geographic lending area.
- Borrower to pay Satisfaction Fee at time of mortgage loan payoff.
- Interest may be tax deductible, please consult your tax advisor.
- Maximum loan to value is 80%. Outstanding mortgage lien balances will be used in calculation of equity.
- Property insurance is required. Flood insurance may be required if real estate collateral is located in a flood zone.
- Annual Maintenance Fee of $50.00.
- Other rates and terms available.
* Annual Percentage Rate
** Best rate available; credit history may affect your interest rate/APR
Rates subject to change without notice.
Please call or visit any one of our branch offices for further details.
