Home Equity Line of Credit Uses
- Home improvements
- Medical expenses
- Business needs
- Debt consolidation
Our Home Equity Line of Credit
- Maximum loan to value up to 90% for properties under $500,000
- Minimum loan amount is $10,000
- Three year, interest only options available
- Twenty year amortization
- Loan origination fee of $100 plus borrower pays closing costs*
For more information contact your local branch or complete our secure form.
*Home Equity Line of Credit - The Annual Percentage Rate (APR) is variable and may be based upon an index plus a margin. The APR will vary with Prime Rate (the index) as published in the Wall Street Journal. The APR for 80% or less loan to value the base rate is 4.579% APR. For any loan over 80% loan to value the APR base rate is 5.080%. The rate will not vary above 20% APR, or applicable state law, or below 4.579% APR, depending on market. Choosing an interest-only repayment may cause your monthly payment to increase, possibly substantially, once your credit line transitions into the repayment period. The loan fee under the plan is $100. In addition, title fees generally cost $3.00- $6.00 per $1,000 financed, transfer taxes generally cost $1.00 per $1,000 financed, and other fees related to the loan range from $700-$2500. Repayment options may vary based on credit qualifications. Interest only repayment may be unavailable. Loans are subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rates and program terms are subject to change without notice. Credit Line may be reduced or additional extensions of credit limited if certain circumstances occur. Property insurance is required. You should consult your tax and/or legal advisor for advice and information concerning your particular situation. Other restrictions may apply. Some exceptions do apply. Does not apply to Bridge Home Equity Loans. Contact an OakStar lender for more details. Borrower pays closing costs including but not limited to appraisal, title search, recording fee, flood certificate, and credit report.