![]() ![]() (2) After 15 year draw period ends, remaining balance will be billed at principal plus interest following terms in credit agreement. 5 Year Interest Only Line of Credit not applicable. 50% over the disclosed Rate and APR to qualified borrowers. HELOC rate will increase 1% over the disclosed Rate and APR to qualified borrowers. Maximum CLTV of 85.0% is available for second liens only. (1) Maximum combined loan to value (CLTV) is based on creditworthiness. If you terminate your Home Equity Line or your Five Year Interest Only Home Equity Line of Credit within the first 12 months of the agreement date you will be required to pay 1% of the credit limit not to exceed $250.00 Properties held in the name of a trust require an Attorney Opinion Letter and a $250 prepaid nonrefundable fee for bank attorney review. Non-owner occupied (investment) properties, mobile and manufactured homes, cooperatives and properties held in the name of a Life Trust or Non-Revocable Trust are not eligible. Eligible property types include 1-2 family residences, condominiums. Primary or secondary (vacation home) residences only. Title insurance is required for loans and lines of credit over $400,000 or for 1st lien purchase money transactions. Flood insurance may be required if the property resides in a flood hazard area. Property insurance is required with Republic First Bank dba Republic Bank listed as mortgagee. Any size transaction where the LTV or CLTV exceeds 80%. For all loans and lines over $250,000, or 1st lien purchase money transactions or when a Home Value Estimate (HVE) is not acceptable or available. 01%ĪPR for all loan amounts is based on the Wall Street Journal Prime Rate, currently 8.50%ĥ Year Interest Only Home Equity Line of Credit PA & NJĪPR for loans $25,000-$99,999.99 is Prime Rate plus 1.00%ĪPR for loans $100,000 to $199,999.99 is Prime RateĪll loans and lines of credit are subject to credit approval.Īll loans and lines of credit are limited to $2,000,000 total consumer exposure per relationship.Īn appraisal performed by a certified or licensed appraiser will be required at the expense of the Applicant. 25%ĪPR for loans over $200,000 is Prime Rate minus. ![]() This product is a variable rate product with a floor of 3.50% and a maximum of 18.00%įirst, Second or Third Consecutive Lien (behind Republic Bank) on Primary or Secondary Residence Loan AmountĪPR for loans up to $24,999.99 is Prime Rate plus 1.75%ĪPR for loans up to $25,000-$49,999.99 is Prime Rate plus 1.00%ĪPR for loans $50,000-$74,999.99 is Prime Rate plus 1.00%ĪPR for loans $75,000 to $99,999.99 is Prime Rate plus. Second or Third Consecutive Lien (behind Republic Bank) on Primary or Secondary Residence: Term Payment Example (2) * Payment example does not include taxes or insurance. Use our Auto Rate Loan Calculator to see how loan terms, purchase price and interest rate impact monthly payment amounts.First Lien Only on Primary or Secondary Residence: Term Additional restrictions and conditions apply. Loan application requires vehicle information, as well as driver’s license number, issue date, and expiration date for all borrowers. All loans are subject to credit approval. Your interest rate will depend on a variety of factors, including the model year of the vehicle and whether the vehicle is new or pre-owned, as well as your credit history, loan amount, loan term, loan-to-value ratio of your vehicle (based upon dealer invoice for new or NADA value for used), and election to receive a 0.25% discount by having monthly payments auto-debited from your Regions checking account (the “Auto Debit Discount”). The lowest APRs require an auto-debit discount and are available only to borrowers with excellent and substantial credit history, whose loans meet other specific credit criteria, such as qualifying loan term, loan amount, loan-to-value ratio, and vehicle characteristics. As of 11/16/22, annual interest rates range from 6.49% APR to 13.99% APR. ![]()
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