NO
Closing Cost Home Equity Loans!
Any of these projects on your list?
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If you're
a homeowner, a Home Equity Line of
Credit is one of the best ways
to borrow because the interest
may be tax deductible.* A
Home Equity Line of Credit is a
revolving credit line that allows
you to borrow 100% of your home's
value. Just use the amount you
need, when you need it!
-
Rates as low as Prime -.50% APR, with a floor of 3.50% APR
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Interest may be tax deductible*
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Low Monthly Payments
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No Closing Costs
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No Application Fees
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"How
much equity do I have?" |
Here's
an example: |
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Appraised
value of home |
$100,000 |
|
Multiply
by 90% |
$
90,000 |
|
Subtract
mortgage loan balance |
-
60,000 |
|
Potential
line of credit |
$
30,000 |
*As
of March 1, 2009, the prime rate is 3.25%. Property
insurance may be required in
connection with this plan. If
you close your HELOC within the
first 3 years, you are responsible
for a closing cost reimbursement
fee up to $350. Consult
your tax advisor to determine your
tax benefits.
