Home Equity Combination Line-of-Credit
Current Rates | Financial Calculators | Home Finance Guide
Disclosures: Home Equity Combination Line-of-Credit Disclosure

Get a Home Equity Combination Line of Credit that puts you in charge ... with a credit line of up to 100% of the equity in your home and a monthly payment of interest only, 1% or 1.5% of your outstanding balance. With the Combination Line

of Credit you'll receive a Home Equity Visa Gold Card and checks to access your money when you need it. Remember - interest on your Home Equity Line of Credit may also be tax deductible. Check with your tax advisor.

• Maximum Line of Credit: $300,000; no minimum initial advance
• Maximum rate is 18% APR
• Minimum monthly payment of interest only, 1.% or 1.5% of the outstanding loan balance, as of the most recent advance. A balloon payment may result
  
  Fees
• Loan Fee: None
• SELCO will pay all closing 3rd party costs except appraisal and title fees, if required (estimate $250 to $750).
• Appraisal Fee (if needed): $250-$450
• Annual Maintenance Fee: $45
• Late Charge: if 15 days late, 5% of past due payment (maximum of $15)
• Cost to reconvey deed of trust: $75-100 (charged when loan is paid in full)
• Prepayment penalty: $500 if the loan is closed within the first 24 months
• Other non-SELCO third-party fees may apply
• Property insurance is required
• Required Documentation
  
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