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With Interest-Only payments,
you get flexibility and extra money in your pocket
with significantly lower payments. Although you have selected to pay Interest-Only, you may pay as much of the principal balance as you choose.
The monthly payment is whatever interest has
accrued on the line for the previous month with a minimum of $100.
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| Rate |
Adjustable² |
| Term |
10-year draw
followed by a 10-year repayment |
| Maximum Loan Amount¹ |
• Revolving
credit line up to $250,000 for loans up to 70% of your home’s appraised
value less encumbrances
• Revolving
credit line up to $100,000 for loans up to 80% of your home’s appraised
value less encumbrances
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| Minimum Loan Amount |
$10,000 |
| Distribution Of Funds |
Access funds
with convenience checks or a SDCCU® EquityLine Platinum Visa® Credit Card |
| Additional Features |
• Free Internet
Branch online account access
• Unlimited TalkTone Teller® calls
• Free eStatements
• Potential tax deductions - check with your
tax
advisor |
| Minimum Payment |
1% of outstanding
balance or interest-only³, minimum $100 |
| Payment Options |
• Automatic payments
from an eligible SDCCU
account available
•
Additional 0.50% discount for Direct Deposit
with automatic transfer payments from an
eligible SDCCU account |
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Contact a Real Estate Specialist today to apply or get more information!
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¹Maximum EquityLine is 70%
Combined Loan-To-Value (CLTV) with a maximum loan
of $250,000 or 80% CLTV with a maximum loan of $100,000.
²The Annual Percentage Rate can adjust monthly and is limited to a 6.00%
increase over the life of the loan. The minimum rate may not decrease
below 4.00%.
³$100 minimum payment is required. A balloon payment will result
if you only make the minimum monthly payments.
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