Home Equity Rates
Rates shown are in effect as of May 15, 2012 and may be subject to change at any time.Fixed Home Equity Loans
| Loan | APR% | Term | Maximum Loan |
|---|---|---|---|
| Fixed Home Equity (0-5 yr) to 80% | as low as 5.00% | up to 60 months | $500,000 |
| Fixed Home Equity (6-10 yr) to 80% | as low as 5.50% | up to 120 months | $500,000 |
| Fixed Home Equity (11-15 yr) to 80% | as low as 6.00% | up to 180 months | $500,000 |
Home Equity Lines of Credit
| Amount Financed | APR% | Variable APR | Credit Line | Payment per $10,000 |
|---|---|---|---|---|
| Up to 80% CLTV | 4.00% | 4.00% - 9.50% | $10,000-$500,000 | $150.00 |
Payment options for Home Equity Lines are (1) 1.5% of the outstanding balance or $50, whichever is greater or (2) interest only during the draw period, recalculated monthly. For either option, the 15-year amortization commences after the 7-year draw period. The actual rate is determined by credit history and term. Rates quoted require automatic payment from a Pacific Resource checking account.
This is a variable rate loan. The Annual Percentage Rate (APR) is based on an index and margin. The maximum APR that may be charged is 18%. The index for all future adjustments is based on the most recent Wall Street Journal Prime Rate as published in the Western Edition on the last business day of each month. To determine the APR that will apply to your line of credit, we may add a margin to the index. The amount of the margin will depend on the characteristics of your line of credit. There is an annual fee which may be waived. Appraisal, title, and credit report charges must be paid at the time of closing.
