Home Equity Line of Credit

Home Equity Line of Credit Features

• Variable rate
• Use the funds for:
  • Home improvements
  • Debt consolidation
  • Life events - weddings, student loans, medical expenses
• 10 year draw/10 year payback period
• Principal and interest payment options available during the draw period
• HomeFLEX: Up to 3 fixed rate conversions at any time during the draw period*

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*Homeflex Home Equity Line of Credit introductory rate (APR) of 2.99% for the first 18 months upon opening. Thereafter, the rate, including the rate on any existing account balance will convert to the applicable variable rate. Equity Lines of Credit are variable rates subject to increase after consummation, adjusting monthly to the Wall Street Journal Prime Rate minus .25% with a maximum APR rate of 18.00% with a floor rate of 4.25%. WSJ Prime Rate currently 3.25% as of 3/15/2020. Maximum Loan to Value 80%. Offer applies to owner-occupied primary residences only. Homeowners insurance may be required. A fixed rate conversion option is available. Borrowers may elect to convert an outstanding balance to a fixed rate at any time during the draw period (first 10 years of the term). There is a $50 fee for every conversion. Reimbursement Fee applicable if paid off and closed within 3 years of the date of loan closing. Other restrictions may apply. All loans are subject to credit approval.