Home Equity Line of Credit Special

*NEW Home Equity Line of Credit accounts (includes refinances from another financial institution) – APR= Annual Percentage Rate. The variable 2.99% (prime -.26%) APR is a promotional rate and will be applied to any purchases, cash advances, or balances transferred made against your new Home Equity Line of Credit. Variable rate will be prime – .26% for the duration of the draw period. Rate may change monthly. Promotional offer is only available until May 31, 2013. Must have a credit score of 760 or above.  Any payments made will be applied to the highest interest rate dollars first.  Your home equity contract APR is variable based on the Wall Street Journal Prime Rate, on your creditworthiness, and Ohio Catholic FCU’s lending policies.  Your APR will vary but will never exceed 18.00% and never fall below 2.99%. Financing up to 70% of the home’s value is available. Must make an initial minimum draw on the line of $10,000 or more for a six month period or longer. $25,000 minimum amount required; $200,000 maximum loan amount allowed. This offer is available only on owner occupied homes. Property insurance required. Flood insurance may be required. Documents must be signed within 30 days of line of credit approval. The home equity line of credit must stay open a minimum of 12 months or all service fees must be repaid to the credit union. Maximum line of credit repayment period is 240 months. Ohio Catholic Federal Credit Union may discontinue or change program without notice.  Please contact your tax advisor to determine any tax benefits. If you respond to this offer but do not meet the criteria for the loan, or if you do not provide the required collateral or documentation, we may not be able to extend credit to you.  Ohio Catholic is an Equal Housing Lender. Monthly Payments will be $100 or 1% of the account balance, whichever is greater.  EXISTING Home Equity Line of Credit accounts with Ohio Catholic FCU are eligible for the promotional variable rate of 2.99% (floating prime -.26 for the 10-year draw period) if the following requirements are meet: subject to creditworthiness, financing up to 70% of the home’s value is available, must have credit score of 760 or above, and must make an initial minimum draw on the line of $25,000 for a six month period or longer.