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With Interest-Only payments for the first 10 years,
you get flexibility and extra money in your pocket
with significantly lower payments. During the
Interest-Only period, you may pay as much or
as little of the principal balance as you choose.
The monthly payment is whatever interest has
accrued on the line for the previous month or
1% of the balance with a minimum of $100.
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| Rate |
Adjustable² |
| Term |
10-year draw
followed by a 10-year repayment |
| Maximum Loan Amount |
• Revolving
credit line up to $250,000
• Up to 100% of your home’s appraised
value
less encumbrances (for purchases only) |
| 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-Only, minimum $100³ |
| 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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| Apply for an EquityLine today at any of our convenient branch locations or online: |
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Current members: |
New Members: |
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¹Maximum EquityLine is 100%
Combined Loan-To-Value (CLTV) with a maximum loan
of $100,000. Mortgage Insurance premium is required
for loans over 90% LTV (paid by SDCCU).
$50 annual fee on 100% CLTV
loans.
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 4.50%.
³$100 minimum payment is required. A balloon payment will result
if you only make the minimum monthly payments.
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