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- The Annual Percentage Rate (APR) for our Home
Equity Line of Credit may vary and is indexed to the Prime Rate as
published daily in the "Money Rates" section of the Wall Street
Journal (currently 5.00% variable APR as of May 2, 2008.) The
variable APR may be as low as Prime minus 0.51% (currently 4.49%
variable APR).
- No Application Fee, No Closing Costs*, No
Annual Fee, Minimum Line amount of $10,000.
- Home Equity Lines of Credit have 60-month draw
periods, followed by a 180 month repayment period.
- To qualify for the lowest rate, customers must
take out a line of credit at the minimum amount of $10,000, have a
good credit history, and meet loan to value conditions.
- Loan amount cannot exceed an 85% loan to
appraised value ratio.
- Certain other limitations apply.
- Loans are subject to credit approval.
- Rates are variable and subject to change daily.
Maximum APR is the lesser of
25.00% or the maximum rate allowed by applicable law.
- Property insurance (and flood insurance, if
applicable) will be required.
- Consult a tax advisor concerning the
deductibility of interest.
- This home equity line of credit is secured by a
primary residence only.
- This offer available to U.S. residents only in
the state of Delaware.
*Community Bank Delaware will pay closing costs on
new home equity lines of credit. Lines paid off and closed in less than
24 months from the loan origination date will require reimbursement of
all closing costs paid by the Bank. Closing costs typically range
between $150.00 to $1,000.00.
Home Equity Term Loans are also available. For more information,
contact our Loan Department at (302) 348-8600
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