![]() (For example, a $125,000 loan financed for 180 months at 7.99% APR would result in an approximate monthly payment of $1,194.25. The Allegacy Fixed-Rate Equity loan is a fixed-rate that is based on your credit history and profile and, like terms, are subject to change without notice. Rates and terms are subject to change without notice. Rates are based on your credit history and profile. Rate is also affected by your credit history and profile and, like terms, are subject to change without notice.Īll loans are subject to credit and property approval. The maximum rate is 18.00% and the lowest could never be below the floor rate of 4.00%. ![]() Prime Rate as published in The Wall Street Journal and adjusted quarterly for equity. Interest-Only Line of Credit – Rates as low as Prime + 0.50%. ![]() Interest may be tax deductible consult tax advisor for details. Homeowner’s insurance and, if applicable, flood insurance is required. Allegacy will pay up to $500 towards the closing costs. There is no annual fee, activity charge or prepayment penalty fee. The total maximum line of credit amount for the loan is $350,000 up to 90% LTV on primary residence.Īppraisals are required on loan amounts greater than $100,000. During the draw period, the payment is equal to the finance charge (interest) that accrued on the outstanding balance during the preceding month. After the draw period ends, the loan is setup on a repayment schedule not to exceed 15 years. Member can obtain credit advances up to 15 years (the draw period). There is no annual fee or prepayment penalty fee. Appraisals are required on loan amounts of $100,000 or greater. During that period, you would make 119 payments of $120.00 and one (1) final payment of $118.33. For the fixed rate option, if you took no other credit advances it would take 10 years to pay off a credit advance of $10,000 at 7.74% APR. During that period, you would make 60 payments of $73.49 to $100.00 followed by 95 payments of $95.21 and one (1) final payment of $94.43. Using the Line of Credit option at a variable rate, if you made only the minimum monthly payment and took no other credit advances it would take 13 years to pay off a credit advance of $10,000 at 5.75% APR. The total maximum line of credit amount for the loan is $350,000 up to 100% LTV on primary residence. The FlexLoan Line of Credit is a variable rate with a 15-year draw period. Minimum amount for each option is $5,000. For FlexLoan segments, which can be exercised up to 5 times, a portion of your balance will have a fixed rate. Rate is also affected by your credit history and profile and, like terms, are subject to change without notice. Rates are based on as low as the Prime Rate minus 0.25%.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |