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Home Equity Line of Credit Rates
Effective Date: 06/01/2016

Subaccount Type
Approximate Term
Home Value
Margin
ANNUAL PERCENTAGE RATE Variable*
Daily Periodic Rate
ANNUAL PERCENTAGE RATE Fixed
Daily Periodic Rate
Fico Score
Home Equity
(2 year draw, 120 month repayment.)
70% CLTV
 
 
 
5.99%
0.016411%
680 or higher
Home Equity
5 year draw, 360 month repayment while in draw period. 180 month repayment after expiration of draw period.
70% CLTV
3.88%
4.25%
0.0116438%
 
 
720 or higher
Home Equity
5 year draw, 360 month repayment while in draw period. 180 month repayment after expiration of draw period.
70% CLTV
4.88%
5.25%
0.0143836%
 
 
680 to 719
Finance Charge
If your payment is more than 10 days late we may charge you 6.0% of the payment or $10.00, whichever is greater.
Fees
Late Charge
The finance charge on each new advance begins on the date of the advance and continues until the advance has been paid in full. There is no "free ride period" which would allow you to avoid a finance charge.
Return Payment
$25.00
Fee Reimbursement

If the loan is paid within the first year from its opening, you agree to reimburse Members 1st for the amount of those bona-fide third party fees paid on your behalf up to $200.00, as permitted by applicable law. The fee may be added to your principal balance.
Collection Costs
You promise to pay all costs of collecting the amount you owe under this agreement.


Your starting annual percentage rate may vary depending on credit worthiness.
*The VARIABLE ANNUAL PERCENTAGE RATE may change. It cannot increase more than 6.0 percentage points above the initial rate.

Index: May Auction Average for the 6 month Treasury Bill
0.371%
Floor: (index plus margin equals annual percentage rate)
4.00%

Representative Example: A 180 month Home Equity Line of $25,000 at 4.25% APR, would require 179 payments at $188.13 with one final payment of $185.00. 

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