Home Equity Line of Credit minimum monthly payment will be based on the outstanding balance.
Combined loan/line amounts secured by subject property may not exceed $1.0 million for LTV’s/CLTV’s >80%.
For Home Equity Line of Credit up to 80% LTV, variable rate is based on Prime rate minus 0.50%
For Home Equity Line of Credit 80.01 – 100% LTV, variable rate is based on Prime rate plus 1.00%
Current Prime rate is: 5.50%
APR can change each quarter. The maximum APR is 18%.