HELOC: *APR is Annual Percentage Rate. Our Home Equity Line of Credit is a variable rate loan; your rate, credit limit andintroductory rate term of 6 or 12 months will be determined based on individual creditworthiness. 2.75% introductory APR available for 6 or 12 months after the loan is funded. At the end of the 6 or 12 months promotional period the variable APR will be calculated using the Wall Street Journal Prime Rate (As of July 9, 2015, the Wall Street Journal Prime Rate is 3.25%) plus margin, not to exceed 18%. Rate and offer are subject to change without notice.
No closing costs except appraisal if needed. Property insurance is required. HELOC must remain open for a minimum of 24 months or closing costs must be repaid by borrower. An annual fee of $100 is waived with automatic payments from an Abacus Personal Checking account. Maximum loan amount is determined by the amount of equity in your home, based on appraised value. Applicable for loans sizes up to $1 million. The HELOC must be secured by a first or second position mortgage on a primary or secondary, owner occupied residential property and is available to U.S. Residents only.