The Home Equity Line of Credit
Five Star Bank's Home Equity Line of Credit (HELOC) is a perfect solution with no upfront costs and a very competitive interest rate plan. Loan amounts are up to $250,000 with a variable rate feature. The annual percentage rate is based on the Prime Index Rate as published in the Western Edition of the Wall Street Journal.
A special low rate of Prime +0.50% floating, with a minimum rate of 6.50%, is offered in addition to:
- NO points1
- NO application fees
- NO appraisal fees
- NO closing costs
1 Offer applies for new equity lines of credit only. Limited time offer. The $50 annual fee is waived during the first year. The Minimum APR is 6.50% and the Maximum APR is 14%. Information above applies to Five Star Bank Home Equity Lines with credit limits of $15,000 to $250,000. Prepayment processing fee of $500.00 paid by borrower if line of credit is closed within the first three years. Sub-escrow fees associated with paying off other lenders, and fees for line amounts over $250,000 are not covered under this program. The zero cost program applies to 2nd trust deeds only. All lines subject to credit approval and appraisal. Fire Insurance to be provided in at least the replacement cost, naming lender as 2nd mortgagee. The Base Index is the Prime Rate as published in the Western Edition of the Wall Street Journal. The base rate as of 01/30/08 was 6.00% and would result in a loan rate of 6.50% APR. This is a variable rate account; however, the APR cannot fall below 6.50%. APR is Annual Percentage Rate.
