Home Equity Line of Credit Disclosure

Rates, terms and conditions are subject to change. All loans are subject to credit approval. Contact Huntington Federal Savings Bank (HFSB) for specific eligibility requirements and guidelines. APR = Annual Percentage Rate. APR applies toward a Home Equity Line of Credit on your owner-occupied residential property. Not available for rental or commercial properties. This is a variable rate credit line with an initial APR of 4.75%. The rate is based on the Prime Rate (“the index”) as published by the Board of Governors of the Federal Reserve System in its statistical release H.15(519) entitled Select Interest Rates. HFSB will use the most recent index available to us as of the last business day of each month, preceding the start date of each billing cycle. The APR can change monthly and is determined by adding a margin of ¼% to the index rate. 18% APR is the maximum rate you may be charged. HFSB will not accept a lien position that is secondary to another lender or lienholder. The minimum loan request is $10,000. There is a maximum combined loan to value of 85%. For example: HFSB first mortgage loan balance of $56,250 and a home equity line of credit request of $50,000 and an appraised value of $125,000 would have a combined loan to value of 85%. There is an inactive fee of $50 charged on the anniversary of the loan if no credit advances occur within the preceding one-year period. There is an early closure reimbursement fee of $350 If you pay off your Home Equity Line of Credit within the first 36 months. Sufficient insurance and current real estate taxes required.