Panduit Employees Credit Union
Home Equity Line of Credit (HELOC)
Effective Date : September 12, 2009
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Fixed Rate |
Variable Rate |
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Current Rate |
4.00% |
4.00% |
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| Index | Wall Street Prime | Wall Street Prime | ||
| Margin | plus .75% | minus 1.00% (floor in effect) | ||
| Maximum Line | $125,000.00 | $125,000.00 | ||
| Term | 12 Years | 15 Years | ||
| Draw Period | 6 Years | 8 Years | ||
| Periodic Rate Adjustment | N/A | Quarterly
February 1st |
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| Date Index Determined | N/A |
Jan 1st for February 1st Adjustment April 1st for May 1st Adjustment Jul 1st for Aug 1st Adjustment October 1st for November 1st Adjustment |
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Payoff Period
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Up to $5,000.00 $5,000.01 to $10,000.00 $10,000.01 to $20,000.00 $20,000.01 to $30,000.00 $30,000.01 to $40,000.00 $40,000.01 to $50,000.00 $50,000.01 to $60,000.00 $60,000.01 to $75,000.00 $85,000.01 to $100,000.00 $100,000.01 to $125,000.00 |
36 Months
48 Months 60 Months 72 Months 84 Months 96 Months 108 Months 120 Months 132 Months 144 Months |
Up to $5,000.00 $5,000.01 to $10,000.00 $10,000.01 to $15,000.00 $15,000.01 to $20,000.00 $20,000.01 to $30,000.00 $30,000.01 to $40,000.00 $40,000.01 to $75,000.00 $75,000.01 to $90,000.00 $90,000.01 to $125,000.00
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36 Months
48 Months 60 Months 84 Months 120 Months 132 Months 144 Months 168 Months 180 Months
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Additional Terms
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Application Fee
Annual Fee Early Payoff / Early Closing Fee |
Refunded at the time of first draw Must maintain a balance for the first year |
$300.00 None 4.00% |
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Minimum Interest Rate |
4.00% |
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Minimum Line Maximum Line - % of Assessed Value Minimum Initial Advance Minimum Subsequent Advances Maximum Advances per Year |
Must be taken within 90 days of closing |
$10,000.00 |
Single Family Residences, Townhomes, and Condominiums
(Illinois Owner-Occupied Residences)
Rates are Subject to Change Without Notice