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Home Equity Line of Credit
  • Variable rate after the first 6 months shall be the Wall Street Journal Prime Rate (currently 5.50% as of 7/28/2022) floating with a floor of 4.00%
  • 10-year interest-only draw period (interest-only monthly payments) then 180-month principal plus interest repayment period
  • Financing up to 85% Loan to Value (Primary & secondary residence only) payments over 25 years
  • Minimum credit score of 670 required

²Introductory APR of .99% for the first six months with a minimum $50,000 line amount and $50,000 initial draw at funding. Property insurance is required. Flood insurance may be required. Monthly payments do not include amount due for taxes and/or insurance. All lines are subject to credit approval. Introductory rate not available for refinancing existing BHCU loans. Maximum line amount is $1M. Lines $500,000 or more require BHCU to be in 1st lien position. Promotion may be discontinued at any time. An early termination fee of $500 will be assessed if the line is closed before 36 months. Borrower is responsible for all closing costs (appraisal, credit report, flood and property search, recording fees, and title insurance if required). Vacation/second home must be in a 1st lien position and titled in name of a natural person. Other restrictions may apply. Variable rate after the first 6 months shall be the Wall Street Journal Prime Rate (currently 5.50% as of 7/28/2022) floating with a floor of 4.0%. 

Kick Starter Home Equity Loan
  • Interest-only payments during first 6 months
  • 5.19% APR fixed for 25 years after the first 6 months
  • Fixed principal and interest payments over 25 years
  • Financing up to 85% Loan to Value (primary & secondary residence only)
  • Minimum credit score of 670 required

¹Introductory APR of .99% for the first six months with a minimum $50,000 loan amount. Monthly payments for the first six months shall be interest-only based on the loan amount. Starting in the seventh month and monthly thereafter until the loan is paid in full, a monthly principal and interest payment based on the loan amount at an APR of 5.19% fixed and fully amortized for a twenty-five-year period (300 month) shall be due. For example, based on a $50,000 25-year loan at 5.19% APR, the interest only payment for the 1st 6 payments = $41.25/month with the remaining 300 payments = $297.86/month. Monthly payments do not include amounts due for taxes and/or insurance. Property insurance is required. Flood insurance may be required. All loans subject to credit approval. Introductory rate and/or interest-only period not available for refinancing existing BHCU loans. Maximum loan amount is $1M. Loans over $500,000 or more require BHCU to be in a 1st lien position. Promotion and/or interest rate may be discontinued at any time. Borrower is responsible for all closing costs (appraisal, credit report, flood and property search, recording and satisfaction fees, and title insurance if required). Vacation/second home must be in a 1st lien position and titled in name of a natural person. Other restrictions may apply.

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