Home Equity Line of Credit (HELOC): Second Home for Retirement Purpose
This HELOC allows you to borrow against the equity built in your second home intended for retirement.
You can draw up to your available credit limit. Your available line of credit replenishes as you repay the outstanding balance.
Features
- No origination fees*
- 10-year draw period; repayment period next 15 years
- Interest-only payments for first 10 years; remaining 15-year term is fully amortized
- No prepayment penalty*
- In-house loan servicing for the life of your loan
*Some restrictions apply. Click Terms & Conditions link below for details.
Max.
C-L-T-V
|
Max.
Loan
Amount
|
Margin
|
Fully
Indexed
Rate
|
Est.
Pymt.
/$1,000
|
 |
|
75%
|
$100,000
|
1.250%
|
5.250%
|
Interest Only
|
 |
Current Index Value: 4.00%
The rates quoted are effective as of 1/6/2009,
and are subject to change without notice.
Estimated Processing Time: up to 30 days
To speak to a representative regarding a Home Equity Line of Credit, please call our Telephone Service Center at 714/258-4000 or 800/462-8328, Monday through Friday, from 7 a.m. to 7 p.m.
