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Home Equity Line of Credit Special

Turn the equity in your home into making your dreams a reality

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Home Equity Line of Credit Special 2019

*Limited time offer. Rate valid as of today’s date 4/5/2019 and is subject to change at any time. APR=Annual Percentage Rate. The initial fixed rate is valid for the first 18 months. Rate will increase after the initial fixed rate period. The remaining 222 month term’s APR is based on loan-to-value. Loan-to-value of up to 80% on an owner occupied property will qualify for a rate of Prime + 0.25% floating. Loan to value ranging from 80.01% to 90.00% on an owner-occupied property will qualify for a rate of Prime + 0.75% floating. The line will remain revolving throughout a portion of the 222 month term, which includes an 102 month draw period and a 120 month repayment period. Rates will be calculated based on an index plus a margin of 0.25% or 0.75%, depending on qualification. The index is the highest prime rate published in the Wall Street Journal. Prime may change at any time and is subject to change without notice. The current index rate is 5.50%. The floor rate is 5.75%. Maximum APR is 18%. Property insurance required. Minimum  credit limit is $10,000. Payments on a $10,000 advance during the first 18 month fixed rate period at an APR of 3.95% would vary between $30.30 to $33.55. Following the initial fixed rate period there will be a 102 month interest only variable rate period at an APR of 6.25%; this is called the draw period, and payments would vary between $47.94 to $53.09. After the draw period will be a 120 month variable rate repayment period at an APR of 6.25% where payments are between $136.42 and $83.75.Out-of-State loans do not qualify for this offer. Closing costs generally range between $250 and $1,000. Offer subject to credit approval for qualified borrowers. A qualified borrower must have a credit score greater than 700, automatic payments, and Bank First checking account with direct deposit. If automatic payments are not elected, the base rate may increase by 0.50%. Consult your tax advisor for deductibility of interest.


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