* ChoicEquity line of credit has a fixed APR of 1.99% for six months from the date of closing. After that date, APR becomes a variable rate adjusted monthly based upon the Prime Rate, as published in the Wall Street Journal, minus .50% for the life of the loan with a minimum rate of 3.49%. As of 3/17/20 Prime Rate was 3.25% which would result in an APR of 3.49%.
** ChoicEquity line of credit has a fixed APR of 3.49% for thirty-six months from the date of closing. After that date, APR becomes a variable rate adjusted monthly based upon the Prime Rate, as published in the Wall Street Journal, for the life of the loan with a minimum rate of 3.49%. As of 3/17/20 Prime Rate was 3.25% which would result in an APR of 3.49%.
For both ChoicEquity Lines of Credit above: Maximum APR is 12.00%. $50 annual fee after one year. If you pay off your account in full and close the credit line within the first 3 years, you will pay a Reimbursement Fee. The Reimbursement Fee charge will be equal to all upfront closing costs paid by lender to third parties at closing. Minimum loan amount is $10,000. Maximum loan amount cannot exceed 80% of the home’s current value, less any existing first mortgage liens. Appraisal required. Homeowner insurance required. Flood insurance may be required, if applicable. Offer available only on new accounts for owner occupied 1-4 family primary residences. Offer may be withdrawn at any time. Other Rates and Terms also available. Consult a tax advisor regarding deductibility.
