Disclosure
*APR = Annual Percentage Rate. Rates are based on as low as the Prime Rate minus 0.25%. Maximum rate for HELOC is 18% and the lowest could never be below the floor rate of 4.99% as of 4/14/2025. Rate is also affected by your credit history and profile and, like terms, are subject to change without notice. For FlexLoan segments, which can be exercised up to 5 times, a portion of your balance will have a fixed rate. Minimum amount for each option is $5,000. The FlexLoan Line of Credit is a variable rate with a 15-year draw period. The total maximum line of credit amount for the loan is $350,000 up to 100% LTV on primary residence. For the fixed rate option, if you took no other credit advances it would take 10 years to pay off a credit advance of $10,000 at 9.25% APR. During that period, you would make 119 payments of $128.48 and one (1) final payment of $128.09.
Member can obtain credit advances up to 15 years (the draw period). After the draw period ends, the loan is setup on a repayment schedule not to exceed 15 years. During the draw period, the payment is equal to the finance charge (interest) that accrued on the outstanding balance during the preceding month. Appraisals are required on loan amounts greater than $100,000. There is no annual fee, activity charge or prepayment penalty fee. Allegacy will pay up to $500 towards the closing costs. Homeowner’s insurance and, if applicable, flood insurance is required. Interest may be tax deductible; consult tax advisor for details.