Home Equity Line of Credit
Looking to move from an outdated kitchen to a newly renovated one? Or finally give the house a new coat of paint? When it's time to improve your life, a La Cap Home Equity Line of Credit just might be the answer. And right now, you can get a great low rate and no closing costs. So, when it's time to move from faded linoleum to new hardwood floors, we can get you there.
*HELOC interest rates are variable, based on an index plus a margin and may vary after the account is open. The index is PRIME as published in the Wall Street Journal. The rate effective on the first day of the billing cycle will be based on the index as of the last day of the preceding month. The APR range is 3.50% to 18.00%. The rate is subject to adjust monthly. The margin will be based on your credit score, debt ratio, and loan to value – see lender for additional details. There is an annual fee in the amount of $60 which is waived the 1st year. The minimum loan amount is $10,000 with a required initial draw of $1,000. Twenty-four draws (6 per quarter) are allowed annually, with a 5 year draw period and a 10 year payback equaling a 15 year term. Monthly payments are 1.50% of the principal balance during the draw period and amortized to payoff in 10 years when the 5 year draw period is over. Property insurance with La Cap listed as lien holder is required as is flood insurance if applicable. Loan to Value allowed up to 80%, mobile home w/land combination 70%. Higher loan to value will be determined on an exception basis. Closing cost will be $0.00 to $900. Closing cost does not include full appraisal fee if appraisal is required. La Cap will pay the closing cost however these cost will be charged back to the borrower(s) if the HELOC is closed within twenty-four (24) months of origination.
FREE Annual Credit Report
Did you know that you're entitled to a free annual credit report from any national consumer credit reporting agency by law? Get a glimpse of how creditors see you and protect your identity by keeping up with your credit report.
All Access Advantage Checking
You could be earning 4.25% APY* on the money in your checking account.