APR – Annual Percentage Rate. Rates may be subject to change without notice.
HELOC -An introductory annual percentage rate (APR) of 2.99% for the first twelve billing cycles with a daily periodic rate of 0.00819178%. Thereafter, the APR will be set on the last business day of each month and will be either a floor rate of 3.50% APR with a daily periodic rate of 0.00958904%, or set at the Prime Rate published in the Wall Street Journal on the last business day of each month, whichever is greater. The maximum rate is 18.00% and the floor rate is 3.50%. Draw period is ten years with an additional ten years to repay. Applies to owner-occupied primary residences. Equity is determined by taking 80% of the property value and deducting the balance of any mortgages. If appraisal is required the charge will range from $400 to $550. Properties deeded in a revocable trust will require a legal review and the charge can range from $150.00 to $250.