1/31/2024 0 Comments Heloc loan calc![]() Ask a mortgage banker (or approved title) for more information. APR will depend on factors including property value and occupancy status, creditworthiness, existing debt against the property, approved line of credit amount, and your account relationships with Bank of the West.ĢCombine a Bank of the West first mortgage with a loan-to-value (LTV) up to 80% and a HELOC in second position up to 9.90% LTV for a maximum combined LTV of 89.9%. As of May 4, 2023, margins range from -0.985% to +5.575% with corresponding APRs ranging from 7.265% to 13.825% for lines of credit between $15,000 and $2,000,000 and are subject to change at any time. As of May 4, 2023, the Prime Rate is 8.25%. The APR for a HELOC during the draw period is variable based on the Prime Rate as published in The Wall Street Journal, plus a margin. The APR will not exceed 18.00% (13.00% APR in Oklahoma) and will not go below 3.00% regardless of your qualifying margin or applicable discounts. APR during the repayment period will be fixed, based on the Prime Rate in effect at the end of the draw period, plus a margin and other factors. The draw period is followed by a fixed-rate fully-amortizing repayment period of 120, 180, or 240 months, depending on the balance at the end of the draw period. Annual Percentage Rate (APR) during the draw period may change as often as monthly. Ask a Bank of the West representative for details.ġAll HELOCs feature a 10-year variable rate draw period requiring a monthly interest-only payment subject to a $100 minimum. Fees: an annual fee up to $75 applies subject to state law limitations a fee of $100 may apply each time a Fixed Rate Loan Option is elected or reversed. Evidence of adequate property insurance required. Rate and offer subject to change without notice. Product details can be found in our Important Terms Brochure ask for a copy. ![]() ![]() Fees, conditions, and restrictions apply. Terms and Fees: Home Equity Lines of Credit (HELOCs) are subject to credit qualification and collateral valuation. BMO branded products and services do not qualify and are not eligible for the offers contained herein. To qualify, all accounts must be branded Bank of the West.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |