Not sure if a Home Equity Line
of Credit or Home Equity Loan is
best for you. Looking to consolidate
current debt and/or start a Home
Improvement project but still want
monies available for the future?
Now you can have the best of both,
a Home Equity Line and a Home Equity
Loan. Most people toss the idea around
about which program is best fitted
for their needs and now they don’t
anymore. Imagine having a Line of
Credit where you can lock in a portion
of the amount up to 30 years and
still have monies available for future
endeavors. This is what our FLEX
LINE/LOAN offers. Large up-front
expenses with ongoing access to your
home’s equity as you repay
principal. Inquire today to put this
loan to work for you.
How this account works:
- Receive up to the entire
amount as a fixed-rate advance.
As principal is repaid, funds become
available.
- Option
to convert line of credit balances
to additional fixed-rate,
fixed-term advances.
- Ongoing accesses
to funds available as you repay
principal on your
initial advance.
- Convenient
access to your available line of
credit.
Minimum monthly payment
draw period
- Initial
Fixed Rate Advance: Interest only
- Variable
Rate Advances: Interest-only
- Additional
Fixed Rate Advances: Principal
and interest
Repayment period
- Principal and interest
(minimum $100.00).
Payment features
- Initial fixed-rate
advance:
Lower fixed payments -
you pay interest
only on the initial fixed-rate
advance.
- Variable-rate advances:
Lower
variable payments - you pay interest
only on variable-rate advances during
the draw period.
- Fixed-rate
advances:
You pay both interest
and principal on
additional fixed-rate advances and on
the remaining balance during the repayment period.
Interest rates
- Variable-rate advances:
Variable rate that's generally
lower than
loan rates. Rate is based on an
index (Prime Rate) plus a margin.
0.25%
discount to the margin with automatic
payments from a qualified checking
account.
- Fixed-rate advances:
0.25%
discount with automatic payments
from a
qualified checking account.
Inquire now to see if this program
is best suited for your future
needs.
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