Home Equity Line of Credit

Home Equity Line of Credit
Summary

Do you need to cover major home repairs, a medical emergency or your child's college education? Community Bank's Home Equity Line of Credit ends the inconvenience of applying each time you need to borrow money. You pay nothing until you write a check as you borrow off the equity of your home and funds are available immediately...when you need them most. Plus, interest rates are based on 1/2% below the daily Prime Rate* reported in the Wall Street Journal Index with a floor rate of 4.00% APR. The Bank recognizes an obligation to lend money primarily to our client depositors. The Bank's primary market is Cass County, Missouri and includes the census tracts defined in the Bank Community Reinvestment Act (CRA) Statement. Any loan request outside our market area will be given careful consideration.


* The Annual Percentage Rate (APR) may change daily, but will not exceed 18%. Maximum combined LTV is up to 80% (including prior mortgages or liens). Insurance must be carried on the property securing this loan.

Rates & Terms

The Home Equity Line of Credit interest rate is based on the printed Daily Prime Rate located in the Rate Index of the Wall Street Journal* minus 1/2% with a floor of 4.00%. Disclosures available here. Apply today by calling us at 816-540-2525 and ask for a Home Equity Loan Officer.


* The Annual Percentage Rate (APR) may change daily, but will not exceed 18%. Maximum combined LTV is up to 80% (including prior mortgages or liens). Insurance must be carried on the property securing this loan.

Repayment

A. During draw period (first 120 months of 240 month schedule) - monthly interest only payments

B. During repayment period (last 120 months of 240 month schedule) - monthly payments equal to 0.8% of the outstanding balance plus interest with a minimum payment of $100


* The Annual Percentage Rate (APR) may change daily, but will not exceed 18%. Maximum combined LTV is up to 80% (including prior mortgages or liens). Insurance must be carried on the property securing this loan. This product has a floor rate of 4.00%.

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