HELOC
How long is the draw period for a HELOC?
10 Years
What is the best rate on the HELOC promo?
4.99%
10 Years
How long is the promotional rate locked in for?
12 months from when it is locked in.
Is the interest rate on a HELOC fixed or variable?
Variable
How many promotional segments can a member have?
3
What factors make up the interest rate on a HELOC?
Prime Rate (Federal Rate) + Margin (Based on credit score)
When is the HELOC promotion ending?
April 28th
What equation is used to calculate the available equity for a property?
Home value x .8 (or .9 if going to 90% CLTV) - the current mortgage balance.
How long do members have to lock in the rate from when their HELOC funds
45 days