Line or Loan?
I'm revolving & you only make payments on me when something is owed
Home Equity Line of Credit / HELOC
The Fall Equity Campaign Dates
September 13- November 14
Minimal borrowing amount for either line or loan
$5,000
The amount of days the government gives you to change your mind on accepting the line or loan.
3 days!
You can borrow from me at a fixed rate
Home Equity Loan / HELOAN
The promotion rate is for what equity product?
HELOC
I help consolidate debt, pay for college expenses, and house repairs
BOTH HELOC AND HELOAN
Maximum loan to value (LTV) %
90%
You MUST sign your documents where you did the application?
FALSE - you can go to ANY branch that is best for you
You only have 10 years to borrow from me
HELOC
The promotional rate and time frame
1.95% for 12months
I provide security with fixed monthly payments and rates
HELOAN
The rate on this cannot change
HELOAN
I have a specific date I need to be closed by.. or else
HELOAN
My max term is 20 years
HELOAN
True or False.. If I have a heloc in repayment i do not qualify for a promotional rate?
FALSE! You DO qualify since it's a NEW Application
True or False?
A home equity loan can have taxes escrowed into it's payment
FALSE
If you pay us off before 36 months this is what you have to pay ESL
Closing Costs/ Bail out Charge
I have a house out of state can I apply for a home equity on that property?
NO it is outside our 10 county range
You can borrow from me at either 80 or 90% loan to value
BOTH
1)If I increase my current HELOC can I get the promotional rate?
2) If I am paying off existing ESL mortgage or equity product am I eligible for the promotional rate?
1) NO
2) NO
Aside from our amazing customer service, this is a benefit exclusive to ESL members with a line or loan.
MORE OWNER'S DIVIDEND
True or False?
You can have both a HELOC and HELOAN at the same time?
TRUE
Name all 10 counties we lend to
Genesee, Livingston, Monroe, Ontario, Orleans, Seneca, Steuben, Wayne, Wyoming and Yates.