Home Equity Line of Credit or Loan Rates
All rates effective as of 05/12/08
|
Home Equity Line |
Home Equity Line |
Home Equity Loan |
| Up to 80% Loan-to-value |
5.25% Variable APR* |
5.25% Variable APR* |
6.25% Fixed APR |
| 81-90% Loan-to-value |
5.75% Variable APR* |
5.75% Variable APR* |
6.50% Fixed APR |
| 91 - 100% Loan-to-value |
6.75% Variable APR* |
6.75% Variable APR* |
7.25% Fixed APR |
| Monthly Payment Options |
Interest Only |
1% Principal & Interest |
Fixed Monthly Payment |
| Access Options |
Phone, Mail, online or check |
Phone, Mail, online or check |
N/A |
| Term |
10 year draw period |
10 year draw period |
Up to 10 years |
| Other Information |
Evidence of adequate property insurance required. Consult your tax adviser to determine the deductibility of interest. No points or fees. Offer of credit is subject to credit approval. Rates assume auto deduct of payment from your West Bank checking or savings account. |
Evidence of adequate property insurance required. Consult your tax adviser to determine the deductibility of interest. No points or fees. Offer of credit is subject to credit approval. Rates assume auto deduct of payment from your West Bank checking or savings account. |
Customer is responsible for closing costs up to $500. Evidence of adequate property insurance required. Consult your tax advisor to
determine deductibility of interest. Offer of credit is subject to credit approval. 0.25% discount available when payments are automatically deducted
from your West Bank checking or savings account. |
West Bank loans are made without regard to race, color, religion, national origin, sex, handicap or family status.
Additional Home Equity Line Information
*The Annual Percentage Rate (APR) on a West Bank home equity line of credit is a variable interest rate and is subject to change daily. The
APR for a West Bank home equity line of credit will not exceed 21%. Except for the 21% cap, there is no limit on the amount by which the rate
can change during any one-year period. Minimum payments may not be sufficient to fully repay the principal outstanding on the credit line. If not,
the entire outstanding balance will be required in a single payment.
Fees and Charges:
To open and maintain a home equity line of credit, you are responsible for paying certain fees to third parties. These fees generally
total between $200 and $700. If you ask, we will give you itemization of the fees payable to third parties.
Additional Home Equity Loan Information
Home Equity Loan Payment Example:
APR (Annual Percentage Rate) is based on a loan amount of $10,000 for 10 years. Payment for APR of 8.00% is 120 monthly payments of $120.00. APR reflects a discount of 0.25% for automatic payments from your West Bank checking or savings account. Rates are not guaranteed until lock-in.
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Important Information About Procedures for Opening a New Account
