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What you should know about home equity lines of credit. Download our Booklet.

Type of Mortgage & Terms of Loan

  • Application Type *

Property Information & Purpose of Loan

  • Are you refinancing? *

Contact us for information on construction loans.

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Borrower Information

  • Borrower

    (Include Jr. or Sr. if applicable)
  • (Include area code)
  • (MM/DD/YYYY)
  • (If different from Present Address)
  • (If residing at present address for less than two years)
  • Co-Borrower

    (Include Jr. or Sr. if applicable)
  • (Include area code)
  • (MM/DD/YYYY)
  • (If different from Present Address)
  • (If residing at present address for less than two years)

Employment Information

  • Borrower

  • (Include area code)
  • (If employed in current position for less than two years or if currently employed in more than one position)
  • (Include area code)
  • (Include area code)
  • Co-Borrower

  • (Include area code)
  • (If employed in current position for less than two years or if currently employed in more than one position)
  • (Include area code)
  • (Include area code)

Monthly Income & Combined Housing Expense Information

Gross Monthly Income

Income Type Borrower Co-Borrower Total
Base Employment Income**
Overtime
Bonuses
Commissions
Dividends/Interest
Net Rental Income
Other
Total

** Self Employed Borrower(s) may be required to provide additional documentation such as tax returns and financial statements.

Describe Other Income Notice: Alimony, child support, or separate maintenance income need not be revealed if the Borrower (B) or Co-Borrower (C) does not choose to have it considered for repaying this loan.

B/C Income Type Monthly Amount

Combined Monthly Housing Expense

Expense Type Present Proposed
Rent
First Mortgage (P&I)
Other Financing (P&I)
Hazard Insurance
Real Estate Tax
Mortgage Insurance
Homeowner Association Dues
Other
Total

Assets & Liabilities

This Statement and any applicable supporting schedules may be completed jointly by both married and unmarried Co-Borrowers if their assets and liabilities are sufficiently joined so that the Statement can be meaningfully and fairly presented on a combined basis; otherwise, separate Statements and Schedules are required.

If the Co-Borrower section was completed about a nonapplicant spouse or other person, this Statement and supporting schedules must be completed about that spouse or other person also.

  • Completed *
  • Assets

List checking & savings accounts below

  • (Company Name, Number & Description)
  • (Enter market value from schedule of real estate owned)
  • (Make & Year)
  • (Itemize)

Liabilities

Liabilities and Pledged Assets. List the creditor's name, address, and account number for all outstanding debts, including automobile loans, revolving charge accounts, real estate loans, alimony, child support, stock pledges, etc. Use continuation sheet, if necessary. Indicate by (*) those liabilities which will be satisfied upon sale of real estate owned or upon refinancing of the subject property.

Name & Address of Company Account No. Monthly Payment Unpaid Balance
  • (Child care, union dues, etc.)
  • (Total Assets minus Total Liabilities)

Schedule of Real Estate Owned

Property Address (enter S if sold, PS if pending sale or R if rental being held for income) Type of Property Present Market Value Amount of Mortgages & Liens Gross Rental Income Mortgage Payments Insurance, Maintenance, Taxes & Misc. Net Rental Income
   

Totals

List any additional names under which credit has previously been received and indicate appropriate creditor name(s) and account number(s):

Declarations

Borrower Co-Borrower
    Yes No Yes No
a. Are there any outstanding judgments against you?*
b. Have you been declared bankrupt within the past 7 years?*
c. Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 years?*
d. Are you a party to a lawsuit?*
e. Have you directly or indirectly been obligated on any loan which resulted in foreclosure, transfer or title in lieu of foreclosure, or judgment?
(This would include such loans as home mortgage loans, SBA loans, home improvement loans, educational loans, manufactured (mobile) home loans, any mortgage, financial obligation, bond, or loan guarantee.*
f. Are you presently delinquent or in default on any Federal debt or any other loan, mortgage, financial obligation, bond, or loan guarantee?*
g. Are you obligated to pay alimony, child support, or separate maintenance?*
h. Is any part of the down payment borrowed?*
i. Are you a co-maker or endorser on a note?*
       
j. Are you a U.S. citizen?*
k. Are you a permanent resident alien?*
l. Have you had an ownership interest in a property in the last three years?*
  (1) What type of property did you own-principal residence (PR), second home (SH), or investment property (IP)?
  (2) How did you hold title to the home-solely by yourself (S), jointly with your spouse (SP), or jointly with another person (o)?

Acknowledgment & Agreement

Each of the undersigned specifically represents to Lender and to Lender's actual or potential agents, brokers, processors, attorneys, insurers, servicers, successors and assigns and agrees and acknowledges that: (1) the information provided in this application is true and correct as of the date set forth opposite my signature and that any intentional or negligent misrepresentation of this information contained in this application may result in civil liability, including monetary damages, to any person who may suffer any loss due to reliance upon any misrepresentation that I have made on this application, and/or in criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Sec. 1001, et seq.; (2) the loan requested pursuant to this application (the "Loan") will be secured by a mortgage or deed of trust on the property described in this application; (3) the property will not be used for any illegal or prohibited purpose or use; (4) all statements made in this application are made for the purpose of obtaining a residential mortgage loan; (5) the property will be occupied as indicated in this application; (6) the Lender, its servicers, successors or assigns may retain the original and/or an electronic record of this application, whether or not the Loan is approved; (7) the Lender and its agents, brokers, insurers, servicers, successors and assigns may continuously rely on the information contained in the application, and I am obligated to amend and/or supplement the information provided in this application if any of the material facts that I have represented herein should change prior to closing of the Loan; (8) in the event that my payments on the Loan become delinquent, the Lender, its services, successors or assigns may, in addition to any other rights and remedies that it may have relating to such delinquency, report my name and account information to one or more consumer credit reporting agencies; (9) ownership of the Loan and/or administration of the Loan account may be transferred with such notice as may be required by law; (10) neither Lender nor its agents, brokers, insurers, servicers, successors or assigns has made any representation or warranty, express or implied, to me regarding the property or the condition or value of the property; and (11) my transmission of this application as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or my facsimile transmission of this application containing a facsimile of my signature, shall be as effective, enforceable and valid as if a paper version of this application were delivered containing my original written signature.

Acknowledgment. Each of the undersigned hereby acknowledges that any owner of the Loan, its servicers, successors and assigns, may verify or reverify any information contained in this application or obtain any information or data relating to the Loan, for any legitimate business purpose through any source, including a source named in this application or a consumer reporting agency.

I/We fully understand that it is a Federal crime punishable by fine or imprisonment, or both, to knowingly make any false statements concerning any of the above facts as applicable under the provisions of Title 18, United States Code, Section 1001, et seq.

Type your name in the box below to represent your electronic signature

Disclosure*

This disclosure contains important information about our Variable HELOC - SOFR Index. You should read it carefully and keep a copy for your records.

  1. AVAILABILITY OF TERMS. All of the terms described below are subject to change. If these terms change (other than the annual percentage rate), and you decide, as a result, not to enter into an agreement with us, you are entitled to a refund of any fees that you have paid to us or anyone else in connection with your application.
  2. SECURITY INTEREST. We will take a security interest in your home. You could lose your home if you do not meet the obligations in your agreement with us.
  3. POSSIBLE ACTIONS. Under certain circumstances, we can:
    1. Terminate your line of credit and require you to pay us the entire outstanding balance in one payment;
    2. Refuse to make additional extensions of credit; and
    3. Reduce your credit limit.

    We can terminate your line of credit and require you to pay us the entire outstanding balance in one payment if:

    1. You engage in fraud or material misrepresentation in connection with the line of credit;
    2. You fail to make a payment as required by the agreement; or
    3. Your action or inaction adversely affects the collateral or our rights in the collateral.

    We can refuse to make additional extensions of credit or reduce your credit limit if:

    1. The value of the dwelling securing the line of credit declines significantly below its appraised value for purposes of the line of credit;
    2. We reasonably believe you will not be able to meet the repayment requirements under the line of credit due to a material change in your financial circumstances;
    3. You are in default of a material obligation of the agreement;
    4. Government action prevents us from imposing the annual percentage rate provided for in the agreement, or impairs our security interest such that the value of the interest is less than 120 percent of the credit limit on the line of credit;
    5. A regulatory agency has notified us that continued advances would constitute an unsafe and unsound practice; or
    6. The maximum annual percentage rate is reached.
  4. MINIMUM PAYMENT REQUIREMENTS. You can obtain credit advances for 5 years. During this period, payments will be due monthly. Your minimum monthly payment will equal the greater of the following:
    • The amount of accrued finance charges on the last day of the billing cycle; or
    • $50.00.

    The minimum payment amount will be rounded to the nearest $.01. Whenever a flat dollar amount is used to determine the minimum payment however, the minimum payment will be rounded to the nearest $.01. The minimum monthly payments may not be sufficient to fully repay the principal that is outstanding on your line of credit at the end of 5 years. If they are not, you will, to the extent permitted by law, be required to pay the entire balance in a single payment.

    Balances of less than $50.00 must be paid in full.

  5. MINIMUM PAYMENT EXAMPLE. If you made only the minimum monthly payment and took no other credit advances, it would take 5 years to pay off a credit advance of $10,000.00 at an ANNUAL PERCENTAGE RATE of 2.760%. During that period, you would make 59 payments of $50.00 with a final payment of $8,315.02.
  6. FEES AND CHARGES. To open and maintain a line of credit, you must pay the following fees to us:
    • Annual fee: $75.00
    • Administration fee: 2.000 percent of the credit limit or $400.00 whichever is less (due when account is opened)

    Note that some fees may only apply upon the occurrence of an event and have been provided for informational purposes only. You must carry insurance on the property that secures the line of credit.

  7. REFUNDABILITY OF FEES. If you decide not to enter into this plan within three business days of receiving this disclosure and the home equity brochure, you are entitled to a refund of any fee you may have already paid.
  8. MINIMUM DRAW REQUIREMENTS. The minimum initial credit advance must be at least $100.00.
  9. TAX DEDUCTIBILITY. You should consult a tax advisor regarding the deductibility of interest and charges for the line of credit.
  10. VARIABLE RATE FEATURES. This line of credit has a variable rate feature and the annual percentage rate (corresponding to the periodic rate) and the minimum monthly payment can change as a result. The annual percentage rate includes only interest and not other costs. The annual percentage rate is based on the value of an index. The index is Secured Overnight Financing Rate(SOFR). The rate index is published in the FRED (Federal Reserve Economic Data) system of the St. Louis Federal Reserve Bank. and is trackable at: https://fred.stlouisfed.org. To determine the annual percentage rate that will apply to your line of credit, we add a margin to the value of the index. Ask us for the current index value, margin, and annual percentage rate. After you open a line of credit, rate information will be provided on periodic statements that we send you.
  11. RATE CHANGES. The annual percentage rate can change monthly after remaining fixed for 1 day. There is no limit on the amount by which the rate can change in any one year period. The maximum ANNUAL PERCENTAGE RATE that can apply during the line of credit is 21.000 percent. The minimum ANNUAL PERCENTAGE RATE that can apply during the line of credit is 2.750 percent.
  12. MAXIMUM RATE AND PAYMENT EXAMPLES. If you had an outstanding balance of $10,000.00 the minimum monthly payment at the maximum ANNUAL PERCENTAGE RATE of 21.000 percent would be $175.00. The maximum annual percentage rate could be reached in the 1st month (1 month) following an initial hold of 1 day.
  13. ADDITIONAL TERMS. The monthly rate change on your HELOC will be effective the 1st of each month. The index used to determine your rate will be the SOFR rate (found at: https://fred.stlouisfed.org) in effect on the 1st day of the month.
  14. HISTORICAL EXAMPLES. The following table shows how the annual percentage rate and the minimum payments for a single $10,000.00 credit advance would have changed based on changes in the index over the last 4 years. The index values are from the rate in effect on the 1st day of each month of April. While only one payment amount per year is shown, payments would have varied during each year. The table assumes that no additional credit advances were taken, that only the minimum payment was made, and that the rate remained constant during each year. It does not necessarily indicate how the index or your payments would change in the future.

Year

Index (%)

Margin* (%)

ANNUAL PERCENTAGE RATE

(%)

Minimum Monthly Payment

($)


2018


1.830


2.750


4.580


50.00

2019

2.460

2.750

5.210

50.00

2020

0.010

2.750

2.760

50.00

2021

0.010

2.750

2.760

50.00

* This is a margin we have used recently; your margin may be different.

This is not a commitment to make a loan.

Download our rate disclosure