HOME EQUITY LINE OF CREDIT
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Home Equity Line of Credit
No closing costs on lines $100,000 and
less!*
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Competitively
priced at
5.25%
Annual Percentage Rate |
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* Closing
costs are waived for lines of $100,000.00
and less. The bank will pay $1,000.00 toward
closing costs on lines $100,000.01 and
above.
** Your Annual
Percentage Rate (APR) is variable and based
on U.S. Prime plus .25% (Currently 5.25%).
The rate will not exceed 24%. The APR is
indexed to the U.S. Prime Rate as published
on first business day of each month in the
“Money Rates” section of the Wall Street
Journal. No other discounts apply. The
Equity line has a ten year draw period
followed by a five year term out of the then
balance. Property insurance is required.
Consult tax advisor regarding the
deductibility of interest. Rates subject to
change at any time. Subject to credit
approval and DCB credit guidelines.
For more information
stop by one of our
branches
or call
301-368-9153.
Rates as
of 5/5/2008
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General Information Only
- Loans available from $20,000 up to 80% of the appraised home value
- Loan can be either a first or second lien
- 10-year or 5-year fixed rate
- Amortization periods over 10 years will be considered a 10-year ARM
or 5-year ARM
- Monthly Principal & Interest Payments
Please do not hesitate to contact a Loan Officer with any questions.
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General Information Only
- Lines available from $15,000 to $100,000.
- Line is accessed by check.
- Minimum advance is $500.
- Advances will reduce the amount of credit available.
- Five year draw period, during which the line can be advanced, paid down and re-advanced.
- Monthly payments are interest-only for the draw period. After five years, any remaining balance will be termed out into a five year installment loan with monthly principal and interest payments.
- Customer must submit updated tax returns and a personal financial statement for review annually.
- Subject to approved credit.
Please do not hesitate to contact your Loan Officer with any questions.
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CONVENIENCE LINE OF CREDIT With Overdraft Protection
(General Information)
Three easy ways to access your line of credit:
• Preprinted Line of Credit Checks
• Overdraft Protection on a DCB Personal Checking Account
• Credit (non-pinned) transactions with your Visa® Check Card
- Lines available from $2,500 to $15,000
- Advances on the line are made in $100 increments
- Monthly principal and interest payments will be equal to 2% of the outstanding balance.
- $25 annual administrative fee
- Application Required
Income verification may be required.
Subject to approved credit.
DCB Checking Account required
Please do not hesitate to contact a Loan Officer with any questions.
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