Variable APR (Annual Percentage Rate) based on the Wall Street Journal Prime Rate published on the last business day of the month. 4.00% as of 3/16/17. Rates are subject to change. Maximum APR 18.00%. Minimum $25,000 line amount and $10,000 minimum draw required. $500 early termination fee. A $500 processing fee applies if the minimum draw of $10,000 is not made at closing and does not stay outstanding for 90 days. Interest only payments for initial 10 yrs, with additional 15 yr payback of P&I. Maximum LTV 80%, rate and terms may vary based upon property occupancy type, and credit history. Not available for homes currently for sale or intended to be sold. Subject to credit approval. 1-4 family, owner occupied primary residences, and condominiums qualify. Property insurance required. Flood insurance may be required. Consult a tax advisor for information regarding the deductibility of interest and charges. Trust review fees ranging from $100 to $200 apply for properties held in trust.
**Customers with a FICO Score equal or greater than 720, a RCB checking account, and automatic payment withdrawals from the RCB checking account will receive the 1.99% APR (Annual Percentage Rate) for the first 12 months following account set up. After the initial rate period, a minimum APR will apply. Current Prime Rate less 0.51% (currently 3.49% APR). This introductory rate offer is subject to change and is limited to one introductory offer per property address and per household and is not eligible for refinancing at the introductory rate.
***If customer does not meet above mentioned requirements, the Home Equity Prime for Life Product may be available. Refer to the disclosure below for details.