* Annual Percentage Rate
The Calculator assumes an 84.99% combined loan-to-value (CLTV) ratio. Actual CLTV eligibility depends on your state, product, lien position, credit and deposit relationship. This interactive calculator is made available to you as a self-help tool for your independent use and is intended for illustrative purposes only. Any results are estimates only. Changes to the account balance or any of the inputs will alter the results. This calculator does not offer any tax, legal, or financial advice.
**If you have any tax, legal, or financial questions, please consult with a qualified professional.
Normal credit qualifications and other terms and conditions apply. APR is for a home equity line of credit effective as of today’s date. Advertised rates and terms are subject to change without notice. Advertised APR includes a 0.25% discount when you set up automatic payments from any checking or savings account. Advertised APR is based on an excellent credit history, and a loan-to-value of 84.99%. Your variable rate is calculated by adding a percentage to the most recent Prime rate published in the “Money Rates” section of The Wall Street Journal. The minimum APR that will be imposed is 3.50% and the maximum is 18%. Additional terms and restrictions apply. Subject to borrower qualification. Upon approval, your home equity line of credit amount may vary based on your specific situation.
Fees and charges: To open and maintain a line of credit, you must pay an annual fee of $75.00 on the account opening date and on each anniversary of this date during the draw period. If you request an initial draw of $25,000 or more as of the account opening date, we will waive the annual fee due on the account opening date. You must also pay certain fees to third parties to open a line. If you ask, we will give you an itemization of the fees you will have to pay to third parties. Auto Club Trust, FSB will pay many closing costs except mortgage taxes, intangible taxes, recording fees, city/county/state tax stamps, transfer tax/ stamps, mortgage certificate and per loan fees which the borrower may be responsible for. To open a typical line of credit of $75,000, borrower closing costs are estimated to range from $350 - $2,500 depending on the geographic location of the property. At the borrower’s expense, property insurance is required and if applicable, flood insurance is required. Auto Club Trust, FSB will pay for title insurance (lender’s and owner’s coverage), if required, on home equity lines of credit that are less than $250,000.
During the draw period, your minimum monthly payment will be the interest on your current balance (any funds you have drawn from your HELOC). If you draw $50,000 and your interest rate is 4.00%, then your minimum payments during the draw period will be about $167 a month. When the draw period ends and your balance due is $50,000, then during your repayment period your payments will include the principal amount plus interest in an amortized schedule, which will end up being about $370 a month.