The information you provide will only be stored on your computer and will not be transferred to any other source. Ask us for the current index value, margin, and annual percentage rate. When banks increase the prime rate, they also increase the rate on any kind of adjustable home loan, including adjustable-rate mortgage loans and adjustable-rate HELOCs. HELOC, rate information will be provided on the periodic statements that we send to you. The annual percentage rate includes only interest and not other costs. The annual percentage rate is based on the value of an index. Page | 3 Initial HELOC Disclosure Revised 01/06/2020 MINIMUM PAYMENT REQUIREMENTS. After the Draw Period ends, the repayment period will begin. This disclosure contains important information about our Home Equity Line of Credit Plan. You will no longer be able to obtain credit advances. H�\�͊�@��>E-���u��H �tC��d��V�BGŘE�~�x�!��{>��v��w���c_��Nm׌����:�cf����c۝�ß�����0|�K�&�p�k�) �V ߫Kt���iߤ��tJk�=��>DW��K��}�CUDZ��1+�X��-�,v���s��T�WcVxx�H��� Y�����g���o����;�+��FN������_��`�x�xO�`�y�y�y�y%+��������������0W�+�d �Y�,A�0K�%�d �Y�,A�0K�,�#�G؏�a?�~��� �'���N: ������tptptpS���ݕ��������=(zPf)��Y�,e��Y�Aу��_��Dщ�E'�N�(;Qtb��Љ���o�7�� �F�����o�7�� �F�����o�7��0�X,�2�WJF�k� ��s�a[�������m�v�?1�>�o������U�e ɖ� endstream endobj 28 0 obj <>stream Prime Rate . If these terms change (other than the annual percentage rate) and you decide, as a result, not to enter into an agreement with us, you are … The length of the … This maximum annual percentage rate could be You should read it carefully and keep a copy for your records.We can refuse to make additional extensions of credit or reduce your credit limit if (1) any reasons mentioned above exist; (2) the value of the dwelling securing the line declines significantly below its appraised value for purposes of the line; (3) we reasonably believe that you will not be able to meet the repayment requirements due to a material change in your financial circumstances; (4) you are in default of a material obligation of the agreement; (5) government action prevents us from imposing the annual percentage rate provided for in the agreement; (6) the priority of our security interest is adversely affected by government action to the extent that the value of the security interest is less than 120 percent of the credit line; (7) a regulatory agency has notified us that continued advances would constitute an unsafe and unsound business practice, or (8) the maximum annual percentage rate is reached.To determine the annual percentage rate that will apply to your account, we add a margin to the value of the Index.

2010. %PDF-1.6 %���� The length of the repayment period will depend on the balance at the time of your last advance before the draw period ends, but will not be more than 15 years. The Index: The Index is the . To assist members and employees to achieve financial success through service that is superior, convenient and easy to use.Copyright © 2020 CASE Credit Union. H��Wmo�6��_q% RDɖ�b�ɖ!m�D]Q�� ۊ�֑�j�?�)��:pD�x/�=w "BHA ���ް���Ɲ��� ��>���O��ϗ�*���u��bY $�=�۴_��֝G(��xAx��I��U����~U��fj�c\��I�'��֜>�|��;. VARIABLE RATE FEATURE: This plan has a variable rate feature and the annual percentage rate (corresponding to the periodic rate) and the minimum payment may change as a result. If a HELOC has a variable rate, you will find all of the program disclosure requirements in Section226.5b. If the rate is not already rounded we then round up to the next 0.25%. "�p�gs3�����ڱ%}����;~��c�ЉުR����3�>����G>{Xg z,��5��x�����PL�[i\lT�'�aN����Nw[Ma�=j���]�� qg0!�*�4��(7*��� �8�k�C��CL���d��`�k����O�eb��t��_�u~��;��%� �~�hh�?�+]ˆ�V:7����'�N+S�n:�b�o��u���Ԅ9D�7P����D�Y��N�/(�h�����3���o'��-~B�Q,� 5���ڤ�������M���6�"No�.ʹ �u+���������`jSj�|�˅������QY����LcW���E��Mw�nMQ�������*�&�Ɋu�Uj�?xu�r�i�eՖ�������2�5�.�ׅA���I��Y�K|���o���g�.׃��ꁺ����7����!5fctZ|�S0�P2�r q6��u.�]�D��'�m��2�:�Ԙ��]'=�o�杼J�~ZV�������۫����ć�б�"!rͳ��ى"$HZ��rя��#�.�I?�`�{�� 䳖 =�|Nk������c'h�1,������[}��s����uu�~�#���)I8�J�P^$����& g� Ix�$w�"[��)��pO~�*u��%��Ms���_�k�~g�L�F£����Mw�����Aj�V�(�s�?�D&��_ P@" endstream endobj 27 0 obj <>stream Payments vary depending on the interest rate … If you had an outstanding balance of $ 10,000.00 duri ng the Dr aw Peri od, th e minimum m on thly payment at t he max imum ANNUAL PERCENTAGE RATE of 15% would be $140.00. AVAILABILITY OF TERMS: All of the terms described below are subject to change. RE070 Home Equity Disclosure Page 4 of 4 R 04-30-19 14. To answer your second question (Does a HELOC disclosure on a previous HELOC for the same customer suffice for a new HELOC or do you need a new disclosure? The annual percentage rate is based on the value of an index.