HOME EQUITY LINE OF CREDIT (HELOC) with NO closing costs!**



September 27 - November 24, 2018

Debt Consolidation? Home Remodeling Project?

For more information, please contact one of our Personal Lenders.

*The annual percentage rate (APR) can change monthly after remaining fixed for 12 months if a $10,000 balance is maintained on the HELOC.  If a balance of $10,000 is not maintained on the HELOC during the first 12 months, the APR will be changed the first of the following month.  The APR is variable and is based on an index. The index is the base rate on corporate loans posted by at least 70% of the 10 largest U.S. banks known as the Wall Street Journal U.S. Prime Rate and is published in the Wall Street Journal, plus a margin.  The index as of September 27, 2018, is 5.25%. After the initial 12 month period or the HELOC balance going below $10,000 during the first 12 months, the minimum APR is 5.25%; maximum APR is 21.75%. APR does not include costs.  Your APR will be based on the specific characteristics of your credit transaction, including evaluation of credit history, property type and amount of credit.

To qualify for the lower HELOC rate, the following applies: the HELOC has a 10 year term with required automatic monthly payment from a required Center Bank checking account.

HELOC is to be secured by an owner-occupied 1-4 family residence. During the 10 year term, payments will be due monthly. Your minimum monthly payment will equal the amount of accrued finance charges on the last day of the billing cycle. The minimum monthly payments may not be sufficient to fully repay the principal that is outstanding on your line of credit at the end of 10 years. At the end of this period, your HELOC could have a balloon payment due.

HELOC approval is subject to credit underwriting guidelines.

**Any closing costs waived at account opening must be paid by borrower if the HELOC is closed within the first 5 years.  Costs range from $50 - $3000 depending on the property type, the amount of credit extended and include applicable state or local mortgage taxes.

You should consult a tax advisor regarding the deductibility for interest and charges for this line of credit.