APR – Annual Percentage Rate. Rates may be subject to change without notice.
An introductory annual percentage rate (APR) of 5.99% for the first twelve billing cycles with a periodic rate of 0.00499167%. 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 periodic rate of 0.00291667%, 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 70% of the property value and deducting the balance of any mortgages.