Your highest priorities? Achieve them with low monthly payments
If you're looking for some help handling life's large expenses, such as a home improvement project, car repairs or college costs, a First American Home Equity Line of Credit can be the perfect solution. After our easy application process, you can borrow money over and over again, and for any reason.
- No application fees
- No closing costs*
- Pay interest-only on amount borrowed
- Competitive rates help you get the most for your money
- Use money for major home improvements, college expenses or to pay off high-interest debt
Not available for investment properties - The Annual Percentage Rate (APR) is a variable rate based on the highest Prime Rate published in the Money Rates section of The Wall Street Journal on the first business day of the month. Rates subject to change at any time. The minimum APR is 3.25% and the maximum APR is 18%. Monthly payments of interest only will result in a balloon payment. No annual fee for the first year - $60 annual fee thereafter. Costs to satisfy certain prior liens may be assessed. Property insurance is required. Flood hazard insurance may be required. Subject to credit approval.
*NO CLOSING COST OPTION: Third party fees and charges ranging from $350 to $1,000 may be assessed at closing. If at the time of closing you set up an Automatic Funds Transfer (AFT) or Automatic Clearing House (ACH) to make the monthly payment on your HELOC and within the first statement cycle elect electronic statements, we will pay the Third Party Fees and Charges associated with closing on your HELOC, including, but not limited to, appraisal, title, flood, credit report and recording fees (Third Party Fees and Charges). If at any time during the term of your HELOC you fail to maintain the AFT or ACH or an electronic statement, you agree to repay the Third Party Fees and Charges that we previously paid which may be added to the outstanding balance of your HELOC. If at the time of closing you do not set up an AFT or ACH to make the monthly payment on your HELOC, then you agree to pay the Third Party Fees and Charges at closing. Not available for loans that fall outside our standard product, rate, term and underwriting guidelines.
Payment: Your Regular Payment will equal the amount of your accrued Finance Charges. Term: The draw period will extend to the first day of the month following execution of the loan documents plus ten (10) years.
Balance Due at End of Loan Term: Closing Fees: $453.00
Annual Fee: $60.00