|Current Appraised Value:||$400,000|
|Home Equity/Current Value:||$200,000/$400,000|
|Current Loan-to-Value Ratio:||0.50 or 50%|
|Current Value x Max CLTV:||$400,000 x 80%|
|Max Combined Loan Amount:||$320,000|
|Potential Loan Amount:||$120,000|
Lenders that offer a combined loan-to-value ratio of 80% would loan up to an additional $120,000 for the home equity loan in this example.
*APR = Annual Percentage Rate. Rates as low as 3.74% APR for home equity loans with terms of up to 60 months. Appraisal costs are the responsibility of the borrower(s). PrimeWay home equity loans are available only in Texas. Maximum 80% CLTV. Certain credit criteria and restrictions apply.
Rates and terms are based on a combination of your earned credit score, the term you select, collateral, down payments, loan-to-value (LTV) position and other normal lending criteria. Acceptable property hazard insurance is required, as well as Flood Insurance if the property is in a designated flood zone.
You should consult your tax advisor regarding your possible tax implications. Rates are subject to change without notice.