Limited-time offer from September 1 through
October 31, 2018.3
5.24% APR Gold Equity Choice Line of Credit1, 2
- $0 Closing Costs
- $0 Annual Fee for the first year1
- $0 Pre-Payment Penalty
- Interest-only payments for the first 10 years1
You have options with your home’s equity
- Consolidate debt
- Remodel a room
- Cover unplanned expenses
The APR (Annual Percentage Rate) of 5.24% shown is a sample discounted rate and assumes an owner-occupied property in a second lien position with a maximum CLTV of 70%, a minimum credit score of 740, a minimum line amount of $150,000 and automatic payments from a Bank of the West checking account. Not all borrowers will qualify for this rate. Rate is variable during the draw period and is subject to changes in the Prime Rate.
We also offer home equity lines of credit on investment properties, too. (Rate will vary)
1All Home Equity Lines of Credit are subject to credit qualification and collateral evaluation. Additional fees, conditions and restrictions may apply. Product details can be found in our Important Terms brochure; ask for a copy. Rate and offer are subject to change without notice. Evidence of adequate property insurance required. Additional Combined Loan-to-Value (CLTV) restrictions may apply depending on property values. CLTV is calculated by dividing the aggregate total of all mortgages by the value of the property. All Home Equity Lines of Credit feature a 10-year draw period followed by a repayment period of 120, 180 or 240 months depending on the balance at end of draw period. An Annual Fee up to $75 applies, subject to limitations in some states, but is waived for the first year and for customers with certain relationships; ask your loan officer for details. Minimum credit line is $15,000. Maximum credit line amount is $2,000,000. Other products and terms available.
2The APR of 5.24% (Prime minus 0.01%) shown reflects a limited-time discount off standard pricing for the draw period and is based on a $150,000 line amount on an owner occupied, single-family residence in second lien position, ≤70% Combined Loan-to-Value (CLTV) and 740+ FICO® Score. Not all applicants will qualify for this rate. Rates are dependent on the verified value and occupancy status of your home, any existing debt against your property, the amount you borrow, your personal credit history, and your relationship with our bank. APR during the draw period is variable and may change as often as monthly. APR during the repayment period varies based on loan-to-value ratio and occupancy status at the time of origination. The APR during the repayment period will likely be higher than the APR applicable during the draw period. Prime is the Prime Rate as published in The Wall Street Journal. As of September 27, 2018 the Prime Rate was 5.25%. APR does not include costs other than interest. The maximum APR is 18% or the lesser maximum allowed by state law. Minimum APR is 3%. A $150,000 credit line balance at 5.24% APR (Prime minus 0.01%) has an estimated monthly interest-only payment of $43.67 for every $10,000 borrowed, subject to a minimum payment requirement of $100 per month during the draw period.
3Application must be received between September 1, 2018 and October 31, 2018.
4A 0.25% discount with automatic payment from a new or existing Bank of the West deposit account is available to all applicants. The discount may be reversed and your rate and payments may increase if automatic payments are discontinued for any reason. Depending on which type of deposit account opened, a minimum opening deposit may apply. Ask a banker for details. All terms and conditions (including fees and charges) applicable to the deposit account apply.