- 20 year draw period
- Minimum loan amount $10,000
- Competitive low rates
- No closing costs for loan amounts up to $250,000
- Interest Only Option Available*
- Call us! 1.888.623.2633
- Visit us Find a Branch
For the initial 60 months of the loan term, the minimum monthly payment will be equal to the interest accrued during the billing period, plus other fees. You may obtain credit line advance during the first 60 months only. This minimum interest payment will not reduce the principle balance outstanding on the line. During this period, your monthly payment may increase or decrease based on the variable interest rate. Beginning in month 61, after the draw period and interest only payment period ends, you will be required to pay principal and interest each month. You will have the ability to repay the outstanding balance over 15 years, your minimum payment will equal 1/180th of the outstanding principle balance, plus finance charges that accrued over the billing cycle, plus any other fees. During this 15 year repayment period, your monthly payment may increase or decrease based on the variable interest rate for each billing period. The interest rate will not exceed 18.00%.