Are you looking for a revolving line of personal credit to answer all your lifestyle needs? The flexibility of PrimeLine might be what you need. Take instant advantage of special investments or meet unexpected expenses with ease and convenience. Large credit limits - Credit lines start at $10,000 and can go up as high as $100,000! Completely confidential - What you use the money for or how you use it is totally up to you. Low rates of interest - Enjoy extremely competitive interest rates that often fall below other forms of financing.
PrimeLine is based on the equity in your home. In fact, up to 85% of a single-family home's appraised value, minus its mortgage balance, can be borrowed. For example, let's assume your home's appraisal value is $100,000, and you have a mortgage balance of $50,000. A $35,000 credit line would be computed as follows:
Try your own Calculation
Of course your actual PrimeLine of credit can be only determined when your home has been formally appraised. Personal income and outstanding debt are among the other factors considered in determining your maximum line of credit.
Keep in mind, property used as collateral must include your primary residence and be located within our service area
Borrowing money can be both time consuming and unpredictable. Avoid costly delays while arranging for financing for special purchases or investments. Once the credit line is established you will find it is the easiest and most convenient way to ever borrow money.
The interest rate is equal to the prime interest rate and changes whenever the Wall Street Journal changes. For example, if the prime rate is 3.75%, then your annual percentage rate would be 3.75% and would only change when the prime rate changes. An APR cap of 19% is established on all PrimeLine accounts.
The minimum credit line available is $10,000. The minimum amount required to access your PrimeLine is $500. What are the repayment terms? Your interest is billed monthly You have seven years to repay the principal At the end of the seven year period, you will be required to pay off any existing balance on the line in one single balloon payment. Refinancing through a variety of options will be available from the bank to qualified applicants. Interest paid on this home equity loan may be tax deductible. You should contact a tax advisor regarding the deductibility of interest. Property insurance is required.
A one time fee will range from $150 - $300 at account opening. There is no annual fee. You pay for only the money you borrow.
Call 1-877-228-8001 to speak to a representative, or you may go to our online application by clicking here.
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