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1.  APR= Annual Percentage Rate. Rates are effective as of June 18, 2018. Introductory rate of 1.50% for the first six (6) months after loan and Prime minus 0.25% after. The current Prime Rate is 5.00%. After the six (6) month introductory rate period, the interest rate will be variable and equal the Index minus 0.25%. The index is the PRIME RATE published daily in the Money Rates column of the Wall Street Journal. The APR may increase or decrease each month if the Prime Rate changes throughout the Draw Period and the Repayment Period. Up to 80% of the value of your home minus your first mortgage balance (if any). All loan applications are subject to PNCU credit guidelines, property approval and underwriting requirements.
2.  APR= Annual Percentage Rate. Rates are effective as of June 18, 2018.The interest rate will be the current Prime Rate plus 1.00%. The current Prime Rate is 5.00%. The interest rate is variable and equal to the Index plus a margin of 1%. The index is the PRIME RATE published daily in the Money Rates column of the Wall Street Journal. The APR and payments may increase or decrease each month if the Prime Rate changes during the Draw Period or the Repayment Period. Up to 90% of the value of your home minus your first mortgage balance (if any). The minimum median credit score of at least one borrower must be 700. The maximum debt to income ratio (DTI) is 41%. All loan applications are subject to PNCU credit guidelines, property approval and underwriting requirements.
3.  The maximum APR is 18% and the minimum APR is 4.25%. The Draw Period is ten (10) years and the Repayment Period is twenty (20) years. The total term is thirty (30) years. Monthly payments of interest only calculated on the amount advanced will be required during the Draw Period. Monthly payments of principal and interest will be required during the Repayment Period. The minimum credit limit is $10,000 and the maximum credit limit is $250,000. If the line of credit is paid off within the first twelve (12) months after loan opening, an early termination fee of $450 will be charged in addition to any balance due on the loan. If the line of credit is paid off after the 12th month and within thirty-six (36) months after loan closing, an early termination fee of $350 will be charged in addition to any balance due on the loan. Typical legal and recording fees will be paid by the credit union. Borrower(s) will be responsible for any fees related to trust review, subordinations, discharges, etc. If an appraisal is required, the appraisal fee will be paid by the borrower(s). Homeowner’s insurance and flood insurance (if applicable) are required. Eligible properties are 1-4 family, owner occupied homes. All rates are subject to change without prior notice.

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