Home Equity Line of Credit (HELOC)

Disclosures

General Requirements

The Annual Percentage Rate (APR), listed above, is based upon loan to values of 80% or less. Loan to values greater than 80% will require private mortgage insurance and your APR will be higher. The APR is estimated based on loan size of $250,000 for conforming loans and $806,501 for jumbo loans. APR may be higher for cash-out refinance applications. Interest rates and loan programs shown are subject to change without notice and assume excellent credit. A consumer credit report will be obtained in connection with an application. The name and address of the agency and/or agencies providing the credit report will be furnished upon request. A consumer credit report may also be requested in connection with any update, renewal or extension of the credit for which application is made.

You must be a member of USALLIANCE Financial. Membership is not required to apply for a mortgage but will be established if not already a member upon the funding of your loan. Membership criteria and eligibility will be reviewed during loan application process.

USALLIANCE Financial provides its mortgage lending services to 1-4 family homes, planned unit developments (PUDs), and individual condominium units. If your home is an attached condominium unit, you will need to have the Condo Questionnaire completed by your homeowners association before we can order any appraisal.

USALLIANCE Financial will lend in all states, except for Alaska, Hawaii, and Texas.

We do not offer mortgages, home equity loans, or lines of credit on vacant land, manufactured (mobile) homes, cooperatives, properties held in life estates or leasehold. If property is held in trust, it must be removed prior to or at closing, depending on product and vesting. See your loan officer for more details.

Rates are based on the terms of the loan and set by the Asset/Liability Committee of USALLIANCE Financial.

Example: A 5-year ARM loan will have an initial rate fixed for the first five years. The month following the 5 years initial fixed period the interest rate can increase, or decrease, to a maximum of 2% above or below the initial rate according to the index plus the margin. Thereafter, the interest rate will be adjusted every 6 months, capped at 1% above, or below, the previous rate until it has reached the lifetime cap of 5% above, or below, the initial interest rate. However, the rate will never be lower than the margin.

Home Equity Line of Credit

Rates are subject to change. Variable annual percentage rate (APR) is calculated based on the Prime Rate as posted in The Wall Street Journal. Prime Rate is published by the Wall Street Journal (WSJ). The current WSJ Prime Rate is 7.50% as of . HELOC is a variable rate product with a Max Rate of 18.000% and a Minimum Rate of 4.000%. Margins are set based on the risk associated with the loan and an individual’s or joint credit history. Minimum line of credit is $25,000. Finance charges begin to accrue from the day of the initial advance. Initial draw period is for ten (10) years. Initial draw must be a minimum of $25,000 and a minimum of $500 for additional draws. Minimum payments are interest only during the draw period, up to twenty (20) years of principal plus interest thereafter. Consult a tax advisor regarding the deductibility of interest.