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* The introductory rate of
3.25
% APR is fixed for six (6) complete billing cycles and is not based on any
index. The introductory rate is available to all qualified borrowers only with
an initial draw of $25,000 at closing. After the first six (6) complete billing
cycles or without qualifying initial draw the Annual Percentage Rate may vary
and is equal to the highest Prime Rate published in the Wall Street Journal on
or before the last day of the preceding monthly billing period. Without a
qualifying initial draw, the rate is currently as low as
4.25
% APR and is a variable rate. The maximum APR that may be imposed is
4.25
% above the Prime Rate in effect at closing. There are no closing costs if you
transfer existing credit lines and/or take new advances totaling at least
$25,000 at account opening and you maintain a balance in your Home Equity
account for three years. Otherwise, you will be required to reimburse us for
certain fees paid to third parties. These fees can be as low as $925.25 for a
$20,000 line of credit and as high as $10,100 for a $500,000 line of credit.
Home Equity accounts are secured by a mortgage on your primary residence.
Property insurance is required. New accounts cannot be used to consolidate
existing MCU debt. Certain restrictions apply. Rates may be higher based on
applicant’s credit worthiness. Rates and terms are subject to change
without notice.
** This is the Prime Rate and APR as of May 1, 2008. †Check with your tax
advisor for eligibility.
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